Accounting & Tax
Accounting & Tax Support
Clean books, clear numbers and tax obligations handled with discipline.
Bookkeeping, management reporting, VAT and Corporate Tax consultancy, and audit preparation support for UAE businesses that want reliable financial records and confident compliance.
Financial discipline is no longer optional for businesses operating in the UAE. With VAT at 5%, Federal Corporate Tax applying to financial years starting on or after 1 June 2023, and a national e-invoicing programme being phased in by the Ministry of Finance, owners and finance teams need records that are accurate, timely and ready to stand up to scrutiny. SOMAK's Accounting & Tax division exists to give you that foundation.
We combine day-to-day accounting support with practical tax consultancy. That means keeping your ledgers current and reconciled, turning raw transactions into management accounts you can actually use, mapping your VAT and Corporate Tax position, and organising the documentation your auditors and advisers will ask for. Our focus is on structure and consistency: a clear chart of accounts, documented processes and a monthly rhythm that removes year-end surprises.
We are deliberate about the boundaries of our role. SOMAK provides accounting support, audit preparation support, and tax consultancy and compliance coordination. Statutory audit opinions are issued only by auditors licensed and registered with the UAE Ministry of Economy, and formal representation before the Federal Tax Authority is provided by FTA-registered tax agents. Where your situation requires either, we coordinate with appropriately licensed professionals so the process runs smoothly from your side.
What we offer
Services
Bookkeeping & Accounting Support
Accurate, up-to-date books maintained on a disciplined monthly cycle, with reconciliations and a clear audit trail behind every figure.
Learn more 02Financial Reporting & Management Accounts
Monthly and quarterly management accounts, cash-flow views and clear commentary that turn your numbers into decisions.
Learn more 03VAT Support
Practical support across the VAT cycle, from registration assessment and transaction treatment to return preparation and record-keeping.
Learn more 04Corporate Tax Consultancy
Clear guidance on how UAE Corporate Tax applies to your business, including free-zone considerations, registration and year-end computations.
Learn more 05Tax Compliance Coordination
A single, organised compliance calendar for VAT and Corporate Tax, with deadlines tracked and licensed professionals coordinated on your behalf.
Learn more 06Audit Preparation & Accounting Process Support
Audit-ready records, supporting schedules and improved accounting processes, so your licensed auditor can work efficiently and your finance function grows stronger.
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Records you can rely on
Structured bookkeeping, regular reconciliations and a clear audit trail, so every figure in your reports can be traced back to its source.
Tax-aware from day one
VAT and Corporate Tax considerations built into how transactions are recorded, rather than reconstructed at the filing deadline.
Decision-ready reporting
Management accounts, cash-flow views and variance commentary designed for owners and boards, not just for compliance.
Clear professional boundaries
Statutory audit and formal FTA representation remain with licensed professionals; we prepare, organise and coordinate so they can work efficiently.
How we work
- Step 1
Diagnostic review
We review your current records, systems, licences and tax registrations to understand where you stand and what needs attention first.
- Step 2
Scope and structure
We agree a defined scope, reporting calendar and document flow, and set up or refine your chart of accounts and internal controls.
- Step 3
Ongoing accounting
Transactions are recorded, reconciled and reviewed on an agreed cycle, with queries raised promptly rather than at year-end.
- Step 4
Reporting and tax review
We deliver management reports and prepare VAT and Corporate Tax working papers for review, filing or coordination with your tax agent.
- Step 5
Year-end and audit readiness
We close the year, assemble supporting schedules and liaise with your licensed auditor so the statutory audit can proceed without delay.
Frequently asked questions
Accounting & Tax
Important note
SOMAK Global Solutions provides accounting support, audit preparation support, and tax consultancy and compliance coordination. SOMAK is not a statutory auditor and is not an FTA Registered Tax Agent. Statutory audit opinions are issued only by auditors licensed and registered with the UAE Ministry of Economy, and formal tax-agent representation before the Federal Tax Authority is provided only by appropriately registered professionals; SOMAK coordinates with such professionals where required. Information on this page is general in nature, reflects our understanding of UAE rules at the time of writing, and does not constitute tax advice for any specific case.
Is SOMAK a statutory auditor or an FTA Registered Tax Agent?+
No. SOMAK provides accounting support, audit preparation support and tax consultancy. In the UAE, statutory audits must be performed by auditors licensed and registered with the Ministry of Economy, and formal representation before the Federal Tax Authority is undertaken by registered tax agents. Where you need either, we coordinate with appropriately licensed professionals and prepare the records and schedules they require.
When does a business need to register for VAT in the UAE?+
Under the current rules, registration is mandatory when taxable supplies and imports exceed AED 375,000 over the previous 12 months, or are expected to exceed it in the next 30 days. Voluntary registration is available above AED 187,500, which can include taxable expenses. We help you monitor your position against these thresholds and prepare the information needed for registration.
Does Corporate Tax apply to free-zone companies?+
Yes, free-zone companies are within the scope of UAE Corporate Tax. A company that meets the conditions of a Qualifying Free Zone Person may benefit from a 0% rate on qualifying income, while other income is generally taxed at 9%. The conditions include adequate substance in the free zone, audited financial statements, arm's-length transfer pricing and a de minimis limit on non-qualifying revenue. We help you understand how these conditions apply to your activities.
What do you need from us to get started?+
Typically your trade licence, constitutional documents, bank statements, sales and purchase invoices, existing ledgers or accounting-software access, and any tax registration details. After an initial review, we provide a document checklist tailored to your business and agree a regular schedule for sharing information.
Can you work with our existing accounting software and team?+
Yes. We can work within your current system, help you migrate to a more suitable platform, or support an in-house accountant by taking on reconciliations, reporting or tax preparation. The aim is to strengthen your finance function, not to replace what already works.
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Accounting & Tax Support
Tell us about your requirement. Your enquiry is routed to the relevant division and handled confidentially.
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