Frequently Asked Questions

A. VAT & Tax Compliance

VAT (Value Added Tax) is a 5% tax on most goods and services in the UAE. Registration is mandatory if taxable supplies exceed AED 375,000 in any rolling 12-month period. Voluntary registration is possible above AED 187,500. OTC helps determine your eligibility and complete the registration efficiently.
The FTA calculates your taxable turnover over any consecutive 12 months — not just a calendar or financial year.
VAT returns are usually filed quarterly. Some larger businesses may be required to file monthly. OTC prepares and files VAT returns accurately and on time.
The FTA may impose fines for late registration, delayed filing, or errors in submissions. OTC assists in resolving penalties, correcting returns, and managing FTA communications.
Businesses with profits exceeding AED 375,000 are subject to Corporate Tax. OTC evaluates your obligations and ensures full compliance.

B. Accounting & Bookkeeping

Yes. We maintain accounts, prepare financial statements, and manage VAT filings based on your documents.
Sales and purchase invoices, expense receipts, and bank statements are sufficient for proper bookkeeping and compliance.
Financial records must be retained for at least 5 years under UAE regulations. OTC can organize and maintain your records for full FTA compliance.
Yes. We prepare financial statements aligned with UAE accounting standards and FTA requirements.
Yes. We ensure proper software setup, reconciliation, and compliance with UAE tax standards.

C. Company Formation & Amendments

Yes. We handle company setup, trade name changes, activity updates, and shareholder or director amendments.
New company registration typically takes 1–3 weeks. Amendments may take a few days to one week, depending on authority approvals.
No. All government charges and service fees are shared transparently upfront.

D. Support & Services

Contact us and share your business documents. We will provide a clear compliance and advisory plan tailored to your needs.
Yes. We offer ongoing compliance monitoring, corrections, advisory support, and regulatory updates.
Absolutely. We manage FTA audits, penalty resolutions, corrections, and deregistration processes efficiently.
Yes. We ensure international compliance and provide advisory support for cross-border operations.

E. Why Hire a Tax Consultant?

UAE tax regulations are complex and frequently updated. Consultants ensure accurate filing, prevent penalties, and optimize tax efficiency.
Yes. We help structure finances efficiently, plan Corporate Tax, and optimize VAT compliance for long-term growth.
Yes. Regulations may change unexpectedly. A consultant keeps your business compliant and audit-ready.
OTC manages deadlines, filings, audits, and compliance matters, allowing you to focus on growing your business confidently.