A Small Guide For A Hassle-Free Audit In Dubai
Dubai has long been one of the most important business cities in the world, encouraging entrepreneurs, professionals, industrialists, &
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WHAT WE DO
ARC Associates is one of the top-ranked and fast-growing networks of professional auditing and accounting firms in the UAE. We provide exceptional service quality to our clients, so we have a strong presence in Dubai, Abu Dhabi, Sharjah, and all over UAE.
Audit and assurance are the assessment of a company’s financial information in order to establish the
ICV was first introduced in the emirate of Abu Dhabi. However, as of 2021, it was officially announced that it will be implemented throughout the UAE.
VAT or Value Added Tax is an indirect tax or a type of general consumption tax, that the country has adopted
OUR COMPANY
ARC Associates is a group of certified chartered Accountants and Auditing experts with more than 35 years of expertise in Audit, Accounting, Financial Consultancy, and advisory services.
Being established in the challenging global business hub, it has been operated and been placed on the top list of audit firms in Dubai along with its strong presence as the best auditors in Abu Dhabi, Sharjah, and all over the UAE.
GENERAL QUESTIONS
A business must register for VAT if its taxable supplies and imports exceed the mandatory registration threshold of AED 375,000.
Furthermore, a business may choose to register for VAT voluntarily if its supplies and imports are exceed the voluntary registration threshold of AED 187,500.
Similarly, a business may register voluntarily if its expenses exceed the voluntary registration threshold.
All companies from various sectors are eligible for the ICV certificate such as Free Zone entities, Service Providers and Manufacturers. Companies that have been operating for 10 months are eligible too for this certificate.
The National In-Country (ICV) program is governed by the Ministry of Industry and Advanced Technology, so all the companies dealing with them directly or indirectly, prefer to deal with those suppliers who are ICV certified. So if you are ICV certified then you will get more businesses.
The ICV Certificate can be issued within 2-3 weeks once all requested documents are submitted.
Yes. As per Article No. 27 of Chapter 2 of New Commercial Companies Law, Federal Law No. 2 of 2015:
- Every Joint Stock Company or Limited Liability Company shall have one or more auditors to audit the accounts of the Company every year. The remaining forms of companies may appoint an auditor following the provisions of this Decree-Law.
- The Company shall prepare annual financial accounts including the balance sheet and the profit and loss account.
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We aspire to be one of the leading Auditing Companies in Dubai, Abu Dhabi, Sharjah, and UAE who provides our clients with a solid global financial strategy.
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