Q: Do I really need an accountant if I run a small business in the UAE?
A: Even small businesses in the UAE must follow transparent accounting and reporting rules.
Corporate Tax and VAT regulations require proper bookkeeping and record-keeping in line with Federal Decree-Law No. 47 of 2022 and FTA guidelines. Records must be maintained for at least 5 years, using approved systems and formats (per IFRS and FTA standards).