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Important articles for your business

Important articles for your business of new federal law

Your business may imposed Penalty up to AED 500,000 (five hundred thousand)

  • a fine of AED 10,000 to AED 100,000 – No Audit :ref article 347
  • a fine of AED 50,000, but not more than AED 500,000 – No accounting record: ref article 348
  • a fine AED 200,000 to AED 1,000,000 (one million)- False statement: ref article 361
  • LLC shall have one or more auditors to audit the accounts of the company every year – Article 27


Avoid penalties – Performing audit IFRS standards which is acceptable by upcoming Govt. regulatory bodies

  • Make reliable financial reports, take informed decisions
  • Internal controls of the business, prevent Irregularities and Fraud
  • Make your business accurate and complete

To keep track your business, make audit for internal or external purposes

Govt. introducing VAT 5% from 1 Jan 2018 and registrations will take place by September 2017 for the commercial companies, so please find the link below: – Books of accounts , accounting records to be maintained for 5 years. Please Refer article 27,28,347,348,361 and  365

Download the new federal lawbelow – UAE

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