TaxBox

Filing your UAE Corporate Tax return? These 5 mistakes are among the most common reasons businesses face FTA penalties, and every one of them is avoidable.

1️⃣ Missing the deadline: Corporate Tax returns are due 9 months after your financial year end.

2️⃣ Skipping registration: Even Free Zone companies and businesses qualifying for the 0% rate must register.

3️⃣ Poor record keeping: Keep your financial records and supporting documents for at least 7 years.

4️⃣ Ignoring transfer pricing: Transactions with related parties require proper documentation and compliance.

5️⃣ Mixing personal and business finances: This can distort your taxable income and create unnecessary compliance issues.

Staying compliant doesn't have to be stressful. TaxBox handles VAT, Corporate Tax, and bookkeeping so you can focus on growing your business.

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Filing your UAE VAT return this quarter? Run through this before you hit submit.

Most VAT penalties don't come from bad intent, they come from small things missed under deadline pressure. A wrong reverse charge entry, an input claim without a valid tax invoice, or a filing period that doesn't match your FTA tax period.

So here's the 7 point checklist we run for every client before submission:

1. Reconcile sales and output VAT with your books.
2. Confirm all input VAT claims are supported by valid tax invoices.
3. Check reverse charge on imports, including Box 6 and Box 10.
4. Verify zero rated and exempt supplies are classified correctly.
5. Match your filing period to your FTA tax period.
6. Ensure your VAT payment is ready before the deadline.
7. Keep records for at least 5 years, as required by the FTA.

Get these right and filing becomes routine, not risky.

Want your VAT filing handled end to end, with every detail double checked? That's what we do at TaxBox 👉 https://zurl.co/cq0iQ

Save this for your next filing. Which of these trips you up most?

Closing your books shouldn't feel like a monthly fire drill.

Most UAE SMEs lose hours every month-end because there's no system, just scrambling through receipts and bank statements at the last minute.

So we built the checklist we wish every business owner had. Save it, share it with your accountant, and run it every month:

1. Reconcile every bank and cash account.

2. Match invoices to payments received.

3. Record and categorise all expenses.

4. Review accounts payable and receivable.

5. Verify VAT input and output entries.

6. Post accruals, prepayments and depreciation.

7. Lock the period and back up your data.

Get these seven right and Corporate Tax season stops being a panic, it becomes a formality.

Too busy running the business to run the books? That's exactly what we do.

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