General Questions
Q: What makes Al Kafa’a different from other firms?
A: We are one of the few SME-focused firms in Dubai led by a US Certified Public Accountant (CPA – New Hampshire). This ensures your business benefits from international standards of ethics, accuracy, and technical expertise, combined with deep local knowledge of UAE regulations.
Q: Where is your office located?
A: We are based in Dubai, United Arab Emirates. However, we serve clients across all seven emirates using modern cloud-based tools and on-site visits when necessary.
Q: Do you only work with large companies?
A: No. Our core mission is to support Small and Medium-sized Enterprises (SMEs). We offer cost-effective packages tailored specifically for growing businesses that need professional financial oversight without the cost of a full-time CFO.
Q: Which industries do you serve?
A: We have specialized experience in General Trading, Contracting & Construction, Retail, Manufacturing, Logistics, and Medical sectors.
Audit & Assurance Support
Q: Do you sign the external audit report?
A: We provide Audit Support & Year-End Closing services. This means we prepare your financial statements, schedules, and books to be “audit-ready” for the external auditor. We act as your advocate to ensure the audit process is smooth and successful.
Q: Why do I need “Audit Support”?
A: Going into an audit with disorganized books often leads to delays, extra fees, and qualified opinions. Our support ensures your records adhere to IFRS standards before the auditor even starts their work.
Accounting & Bookkeeping
Q: Which accounting software do you support?
A: We are proficient in major cloud accounting platforms (like Xero, QuickBooks, Zoho Books). We can integrate these systems to ensure you have real-time access to your financial data.
Q: My books are messy and haven’t been updated for months. Can you help?
A: Absolutely. We offer Accounting Inspection & Supervision services. We will review your historical records, correct errors, reconcile bank statements, and bring your books up to date to ensure they are compliant.
Q: How often will I receive reports?
A: We typically provide Monthly Financial Statements and management reports. However, we can customize the reporting frequency based on your business needs.
VAT & Corporate Tax
Q: Do you handle Corporate Tax registration?
A: Yes. We handle the entire Corporate Tax lifecycle, from registration on the EmaraTax portal to impact assessment and annual return filing.
Q: I am worried about VAT fines. How do you ensure compliance?
A: We follow a rigorous review process led by our US CPA experts. We verify every invoice and calculation before filing your VAT return to ensure 100% compliance with FTA regulations.
Q: Is my business exempt from Corporate Tax?
A: A 0% tax rate applies to taxable income up to AED 375,000. Additionally, “Small Business Relief” may apply if your revenue is below AED 3 million. We can conduct a Tax Assessment to determine your exact status and eligibility for exemptions.