Next Taps

☕ Coffee vs. Compliance – The eternal struggle of every auditor. 😅

Yesterday I tried to enjoy my coffee hot...

But petty cash, missing vouchers, and yet another version of the trial balance had other plans.

Here’s a little comic relief straight from the life of an auditor/finance professional — because if we don’t laugh, we’ll cry (into our cold coffee). 😄📋

🔍 Tag your favorite finance warrior who never finishes their coffee on time!

📊 Unlock Your Business Potential with ICV Audit Services! 🇦🇪

Is your company ready to maximize opportunities with ADNOC and other government entities?

Our expert team at Next Taps offers ICV Certification and Audit Services designed to help your business comply with the UAE’s In-Country Value (ICV) program.

🔍 What We Offer:
✅ End-to-end ICV Audit & Certification
✅ Guidance on improving your ICV score
✅ Compliance with MoIAT requirements
✅ Strategic financial insights to support local value creation

💡 Let us help you gain a competitive edge and contribute to the UAE’s economic development goals.

📞 Reach out today for a consultation!

Final Reminder – FTA Grace Period for Updating Tax Records Ends 31 March 2025

Dear Business Community,

This is a final reminder that the grace period granted by the Federal Tax Authority (FTA) ends on 31 March 2025. Businesses must update their tax records on the Emara Tax portal before this deadline to avoid potential penalties.

We urge all businesses to take immediate action to review and update their tax profiles. This includes renewing expired documents such as trade licenses, Emirates IDs, and passports, and ensuring that all registration details are accurate.

Key Areas to Review:

- Legal Entity Classification
- Free Zone entities and foreign branches may be incorrectly classified as “Legal Person – Other” instead of “Legal Person – Incorporated.”
- Sole establishments may be wrongly listed as “Legal Person – Incorporated” instead of “
“Legal Person – Incorporated.”
- Sole establishments may be wrongly listed as “Legal Person – Incorporated” instead of “Natural Person – Individual.”

- Branch Information

All branches must be correctly added to the taxpayer’s profile.

- Date of Incorporation

Make sure the date is correctly entered and not left blank.

- Business Activity
Ensure the activity listed matches the one on your trade license.

- Authorized Signatory Documents

Expired documents for authorized signatories are not automatically flagged and must be updated manually.

With the deadline fast approaching, we strongly recommend addressing these updates as soon as possible to ensure full compliance.

Need Help?

Next Taps accounting and bookkeeping team is ready to support you.

Contact Us:
056-2955910
[email protected]

Home - Trusted Accounting & Bookkeeping Services for Your Business We help businesses streamline finances with expert bookkeeping and tax solutions. CONTACT US What We do Accounting Services We offer a full range of accounting and bookkeeping solutions designed to help businesses stay financially organized...