Emirates Chartered Accountants Group

30/09/2026

1 October 2026: A Key Date for UAE VAT

The UAE VAT landscape is changing. From 1 October 2026, taxable persons seeking to recover Input VAT must comply with the new verification of supplies requirements introduced under Article 54(bis) of the UAE VAT Law and FTA Decision No. 13 of 2026.

In addition to holding a valid tax invoice and ensuring the expense relates to taxable supplies, businesses will now be required to verify both the supplier and the genuineness of the supply in specified circumstances.

When is verification required?
* Where the value of a supply exceeds AED 10,000
* Where individual supplies are below AED 10,000, but cumulative purchases from the same supplier exceed AED 100,000 within a 12-month period

What should be verified? Identity of the supplier
* Supplier's place of business
* Payment and commercial arrangements
* Red flags such as frequent changes in premises, unusual business practices, or reputation risks

When should verification be performed?
* At supplier onboarding or first qualifying supply
* At least once every 12 months thereafter
Why is this important? Failure to comply may result in the FTA denying Input VAT recovery on the relevant supplies.
Action required now
✔️ Conduct supplier verification procedures
✔️ Maintain supporting evidence and declarations
✔️ Implement and document a robust VAT compliance policy
✔️ Review existing VAT controls to ensure readiness before 1 October 2026

Are your VAT controls ready for the new verification requirements? Now is the time to assess your processes and strengthen your compliance framework.

28/09/2026

Right There With You - In Singapore

CA Manoharan Palerichal Manu, Ragesh Mattummal , and Purvi Mehta will represent CLA Emirates at the CLA Global Conference 2026, taking place in Singapore.

The conference brings together leaders and professionals from across the CLA Global network, representing member firms across more than 252 offices.

An opportunity to strengthen global relationships, exchange ideas, explore emeging trends, and bring valuable insights back to the clients and communities we serve.

From Dubai to Singapore, we're connecting with a global network to ensure we're always Right There With You.

25/09/2026

New UAE VAT procedures are changing how businesses verify suppliers and support input VAT claims.

CLA Emirates has simplified the process through Flag-it—a practical tool built around five essential supplier checks, helping businesses strengthen documentation, identify red flags, and stay prepared for compliance requirements.

Watch the video to understand the five checks and how they may apply to your business.

Request a Flag-it demo – [email protected]

24/09/2026

IFRS 18 Across Industries: Banks, Insurers, Real Estate and Beyond

The same five categories and two mandatory subtotals apply to every entity under IFRS 18 - yet the resulting income statement looks markedly different depending on the industry.

A bank's operating profit will include net interest income. A manufacturer's will not. An insurer's operating profit will include investment returns backing policyholder liabilities. A retailer's will not.

This final blog in our series examines how IFRS 18 plays out across banking, insurance, real estate and manufacturing - and why understanding your entity's specified main business activities is the single factor that determines which version of the income statement your organisation will present.

Get in touch with our IFRS consultants to ensure your entity's assessment is documented and defensible ahead of transition.

Read more: https://tinyurl.com/yc824ekc

See how IFRS 18 plays out differently for banks, insurers, REITs and manufacturers. CLA Emirates supports practical IFRS compliance in the UAE.

23/09/2026

Aggregation and Disaggregation Under IFRS 18: The Art of Deciding What Goes Where

IFRS 18 introduces more prescriptive requirements for how much detail belongs on the face of the statement of profit or loss versus in the notes.

Classifying income and expenses into the right category only gets you halfway. The second half is deciding how much detail to show - and IFRS 18 raises the bar significantly.

Key changes for preparers:

- Nature/function analysis of operating expenses must now appear on the face of the statement
- Mixed presentation is explicitly permitted for the first time
- Generic "other" labels can no longer be used as a catch-all for material items

Preparers should revisit - not simply carry forward - decisions made under IAS 1.

Get in touch with our IFRS consultants to review your presentation structure ahead of transition.

Read more: https://tinyurl.com/mr9u6m5p

IFRS 18 moves nature/function expense analysis onto the face of the statement and tightens 'other' labels. CLA Emirates' IFRS consultants in UAE can help.

22/09/2026

Should You Establish Your Holding Company in DIFC?

When assets span multiple jurisdictions, the right ownership structure matters.

With the 2026 DIFC Prescribed Company reforms, eligible investors can now explore DIFC holding structures without the previous GCC asset nexus - opening up greater flexibility for globally held assets.

From asset ownership and governance to succession planning, a DIFC structure may offer an effective platform for international investors and family businesses.

The key question is simple:

Is your ownership structure built for where your assets are today - and where you want them to be tomorrow?

Get in touch with our experts to explore what a DIFC holding structure could mean for you.

21/09/2026

We are deeply saddened by the passing of HH Sheikh Ahmed Bin Rashid Al Maktoum.

CLA Emirates extends its heartfelt condolences to the Al Maktoum family and the leadership of the UAE.

May his soul rest in peace.

18/09/2026

IFRS 18 | Cash Flow and Consequential Amendments - Why Finance Teams Cannot Treat This as a Separate Work Stream

IFRS 18's impact extends beyond the statement of profit or loss.

The consequential amendments to IAS 7, IAS 8 and IAS 34 are part of the same standard - and they carry their own disclosure and presentation requirements that finance teams need to address as part of the transition project.

Treating them as a later, separate work stream creates unnecessary risk. The systems, processes and judgements involved are interconnected, and leaving these amendments for later often means revisiting decisions already made.

Finance teams that plan for IFRS 18 holistically - across all affected standards - will be better placed to transition smoothly and without rework.

Get in touch with our experts to understand the full scope of your IFRS 18 transition.

Read more: https://tinyurl.com/4pfhnft

IFRS 18 changes the cash flow statement's starting point, renames IAS 8, and reshapes interim reporting. CLA Emirates' IFRS advisory in UAE can help you plan.

18/09/2026

Webinar Recording: Claiming Input VAT Under New Rules – What Every Business Needs to Know?

Stay updated on the latest VAT requirements to protect Input VAT recovery and maintain UAE tax compliance. Our tax specialists Ajil Varghese and Akhil Saji Kumar explain the new rules, key challenges, and practical compliance considerations.

During the session, we also demonstrated two CLA Emirates digital tools designed to support compliance and risk management:
• Supplier Due Diligence Tool
• QFZP Assessment Tool

Watch the recording for practical insights on technology-enabled tax compliance.
https://youtu.be/rQW7ifPsV-s

Links to the featured digital tools are in the comments.

17/09/2026

Tax Residency Certificate UAE: A Practical Guide to Eligibility, Application & Benefits

A UAE Tax Residency Certificate (TRC), issued by the FTA, provides official evidence of UAE tax residency - relevant for those seeking to benefit from Double Taxation Avoidance Agreements or demonstrate their tax status to overseas authorities.

One important distinction: a UAE residence visa and a TRC are not the same. Holding a residence visa does not automatically qualify you for a TRC.

At CLA Emirates, we support individuals and businesses through the TRC application process - from eligibility assessment to submission.

Get in touch with our experts to find out how we can help.

Read more: https://tinyurl.com/y3ddyn65