Accurate, timely financial record-keeping compliant with UAE regulatory requirements, IFRS standards, and international best practices — forming the foundation for informed business decisions.
Bookkeeping is not a commodity function — it is the foundational layer upon which all financial reporting, tax compliance, management decisions, and audit readiness depend. Errors at this level cascade through every subsequent financial process, from VAT returns to corporate tax filings to investor reporting.
Polaris provides professional bookkeeping services that go beyond data entry. Our approach integrates chart of accounts design, transaction classification, multi-currency reconciliation, and intercompany accounting into a coherent system that supports your broader compliance and reporting needs.
We serve entities across the UAE spectrum — DIFC and ADGM regulated firms requiring FCA-standard record-keeping, free zone companies maintaining QFZP eligibility documentation, and mainland entities navigating DED regulatory expectations.
Our bookkeeping engagement encompasses accounts payable and receivable management, bank reconciliation, general ledger maintenance, fixed asset registers, prepayment and accrual schedules, and month-end closing procedures. For entities with international operations, we manage multi-currency accounting and intercompany eliminations.
Every engagement is structured around your reporting calendar — whether monthly, quarterly, or aligned with specific regulatory deadlines such as VAT return periods or corporate tax filing dates.
Answers drawn from the published rules of the UAE authorities and regulators. Each answer links to its official source. Last reviewed 25 October 2026.
Seven years. Article 56 of Federal Decree-Law No. 47 of 2022 requires a Taxable Person to keep all records and documents for seven years after the end of the Tax Period they relate to, in a form that supports the Tax Return and lets the Federal Tax Authority readily ascertain Taxable Income. Separately, Article 26 of Federal Decree Law No. 32 of 2021 on Commercial Companies requires every company to keep its accounting records at its headquarters for at least five years after the end of the fiscal year. The longer tax period governs in practice. We set up our bookkeeping clients' ledgers and document archives so the full seven-year trail can be retrieved without a scramble.
Sources: Federal Tax Authority — Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses; UAE Legislation (Ministry of Justice) — Federal Decree Law No. (32) of 2021 on Commercial Companies (accessed 24 October 2026)
The list is set by Cabinet Decision No. 74 of 2023, the Executive Regulation of Federal Decree-Law No. 28 of 2022 on Tax Procedures. Article 2 requires accounting records and commercial books covering, among other things, the balance sheet and profit and loss accounts, records of wages and salaries, records of fixed assets, and inventory records and statements showing quantities and values, together with the documents behind each entry. Article 4 of the Tax Procedures Law itself places the duty on anyone conducting a business or carrying a tax obligation, not only on registered taxpayers. Our bookkeeping engagements are structured around this list, so that every ledger balance has a supporting document the FTA can audit.
Sources: Federal Tax Authority — Cabinet Decision No. 74 of 2023 on the Executive Regulation of Federal Decree-Law No. 28 of 2022 on Tax Procedures; UAE Legislation (Ministry of Justice) — Federal Decree-Law No. (28) of 2022 on Tax Procedures (accessed 24 October 2026)
Article 78 of Federal Decree-Law No. 8 of 2017 on Value Added Tax lists them: records of all supplies and imports, every tax invoice and tax credit note issued and received, records of goods and services used for non-business purposes or on which input tax was not recovered, records of exports, records of adjustments and corrections, and a tax record showing due and recoverable tax. Under Article 71 of the Executive Regulation (Cabinet Decision No. 52 of 2017, as amended by Cabinet Decision No. 100 of 2024), retention follows the Tax Procedures Law and its Executive Regulation, five years after the Tax Period, except that real estate records must be kept for fifteen years. Our VAT-ready bookkeeping classifies every transaction so these records fall out of the ledger automatically.
Sources: Federal Tax Authority — Federal Decree-Law No. 8 of 2017 on Value Added Tax and its amendments; Federal Tax Authority — Cabinet Decision No. 52 of 2017 and its amendments – The Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (accessed 24 October 2026)
Yes. Article 3 of Cabinet Decision No. 74 of 2023 sets the base period at five years after the Tax Period for a Taxable Person, and requires records to be kept in a way that lets the FTA verify the tax obligations. The same article then extends the period in three situations: by four years, or until the dispute is finally settled, whichever is later, where there is a tax dispute; by four years where a tax audit is ongoing or the FTA has notified its intention to audit before the period expires; and by one year from the date a voluntary disclosure is submitted. We flag these extensions in each client's retention schedule so nothing is destroyed too early.
Source: Federal Tax Authority — Cabinet Decision No. 74 of 2023 on the Executive Regulation of Federal Decree-Law No. 28 of 2022 on Tax Procedures (accessed 24 October 2026)
Yes, if revenue is low enough. Article 2 of Ministerial Decision No. 114 of 2023 allows a person to prepare financial statements using the cash basis of accounting where its revenue does not exceed AED 3,000,000, or in exceptional circumstances on application to the FTA. Above that threshold the accrual basis under IFRS applies. The FTA's Accounting Standards guide (CTGACS1) confirms that the AED 3 million test is measured within the relevant Tax Period and that the exceptional route requires an application to the FTA. Cash-basis books are simpler, but they must still be complete enough to support the Tax Return, so we keep the same document trail for cash-basis clients as for everyone else.
Sources: Ministry of Finance — Ministerial Decision No. 114 of 2023 on the Accounting Standards and Methods for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses; Federal Tax Authority — Accounting Standards and Interaction with Corporate Tax — Corporate Tax Guide CTGACS1 (November 2023) (accessed 24 October 2026)
Electronic records are fine; language needs care. Article 4 of Cabinet Decision No. 74 of 2023 allows records to be kept either as the original documents or as information retained in photocopy or electronic copy, provided an easily readable copy can be produced. On language, Article 5 of Federal Decree-Law No. 28 of 2022 on Tax Procedures requires tax returns and related records to be in Arabic but allows the FTA to accept them in other languages; if the FTA asks, you must provide an approved Arabic translation. Failing to supply Arabic records when requested carries a penalty under Cabinet Decision No. 75 of 2023. We keep cloud ledgers in English and arrange approved translation only when the FTA requests it.
Sources: Federal Tax Authority — Cabinet Decision No. 74 of 2023 on the Executive Regulation of Federal Decree-Law No. 28 of 2022 on Tax Procedures; UAE Legislation (Ministry of Justice) — Federal Decree-Law No. (28) of 2022 on Tax Procedures (accessed 24 October 2026)
Cabinet Decision No. 75 of 2023 sets the corporate tax penalties. Failing to keep the required records and other information costs AED 10,000 for each violation, rising to AED 20,000 for a repeated violation within 24 months of the last one. Failing to submit tax-related data, records and documents in Arabic when the FTA requests them costs AED 5,000. These sit on top of the VAT and tax-procedure penalties, and on top of any additional tax assessed when the records cannot support a return. Good bookkeeping is cheaper than any of them, which is why we treat monthly reconciliation and document capture as non-negotiable parts of every engagement.
Source: Federal Tax Authority — Cabinet Decision No. 75 of 2023 on the Administrative Penalties for Violations Related to the Application of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (and its amendments) (accessed 24 October 2026)
In phases from 2027. Ministerial Decision No. 244 of 2025 on the Implementation of the Electronic Invoicing System set a pilot programme from 1 July 2026, with voluntary adoption from the same date. Businesses with revenue of AED 50,000,000 or more must appoint an Accredited Service Provider by 30 October 2026 and implement the system by 1 January 2027, under Ministerial Decision No. 66 of 2026, which amended the original timetable. Businesses below AED 50,000,000 must appoint a provider by 31 March 2027 and implement by 1 July 2027; government entities implement by 1 October 2027. Revenue is measured on the financial statements for the most recent accounting period, so your bookkeeping decides which phase you fall in. We prepare clients' ledgers and invoice data for the switch.
Sources: Ministry of Finance — Ministerial Decision No. 244 of 2025 on the Implementation of the Electronic Invoicing System; Ministry of Finance — Ministerial Decision No. (66) of 2026 Amending certain provisions of Ministerial Decision No. 244 of 2025 on the Implementation of the Electronic Invoicing System (accessed 24 October 2026)
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