Sector
Tax and accounting for Dubai retail businesses.
Daily till reconciliation, gift voucher liabilities and stock shrinkage, so gross margin is measured rather than assumed.
Common tax challenges
Retail combines very high transaction counts with physical stock, so the controls that matter are daily rather than monthly.
- POS to bank reconciliation. Card settlements arrive net of processor fees, batched across days. Reconciling tills to settlements to the bank daily is the control that keeps everything downstream reliable.
- Gift vouchers. A voucher sold is generally not revenue at the point of sale; it is a liability until redeemed. Recognising it on sale overstates revenue and misstates the VAT position.
- Discounts and promotions. VAT follows the consideration actually received. Promotions recorded gross with the discount buried elsewhere distort both output VAT and margin.
- Stock shrinkage. The gap between what was purchased and what was sold is real cost. Without counts it is invisible and gross margin is fiction.
- Turnover rent. Mall leases often include a percentage of sales. That calculation depends on your reported figures being right, and landlords audit them.
- Returns and exchanges. Credit notes must flow through or output VAT stays overstated.
What we provide
- Daily POS, settlement and bank reconciliation
- Gift voucher liability tracking and release on redemption
- Stock counts, shrinkage analysis and true gross margin
- Store-level profit and loss where you run multiple locations
- Turnover rent calculation support
- VAT returns and Corporate Tax filing
Typical documents
- Daily POS and till reports
- Card processor settlement statements
- Supplier invoices and delivery notes
- Stock count sheets
- Lease agreements including turnover rent clauses
- Payroll records and bank statements
Our process
Daily reconciliation first, then stock, then store-level reporting. See monthly bookkeeping and e-commerce accounting if you sell online as well.
Getting started
Tell us your licence type and what is outstanding, and we will confirm which returns apply and what the deadlines are before any work begins. Send us your details, or check your position with the tax status tool.