Jaxa Chartered Accountants

Home
United Arab Emirates
Dubai
Jaxa Chartered Accountants

JAXA Chartered Accountants is an ISO 9001-2015 certified firm of experienced Chartered Accountants We serve more than 1500+ clients across U.A.E.

Every business is different - but what every business needs are expert financial advice and accountancy. JAXA Chartered Accountants is an ISO 9001-2015 certified firm of experienced Chartered Accountants, auditors and specialist service teams offering a wide range of services including Auditing, Accounting, Feasibility studies and Management and Software Consultancy services tailored to client’s

needs. Our head office is in Dubai with branch offices in Abu Dhabi, Jebel Ali, Sharjah. With practices throughout the UAE, we become experts in your business - helping you take control of finances, across every aspect of your company. Whilst we are qualified auditors, accountants and business advisers, what makes us different is our innovative, flexible and commercial approach. More than 75+ highly qualified and experienced professionals are available in our office to provide the greatest level of professionalism in all areas of Auditing, Accountancy, Business advice and Financial Planning. Our audit report is approved by banks in U.A.E. and we have authorized auditors for all the Free Trade Zones and other license issuing authorities in U.A.E. Wherever possible we aim to be of vital assistance to our clients. We work with like-minded people who challenge the process and make a difference. We follow International Accounting Standards/ International Financial Reporting Standards and committed to keeping the highest levels of professional standards and quality.

17/07/2026

Fun Friday Chit-Chat Session 🎉

A little laughter goes a long way! 😄 At Jaxa Chartered Accountants, we believe strong teams are built through meaningful conversations, shared smiles, and memorable moments. Here's a glimpse of our Fun Friday Chit-Chat Session! 💙

16/07/2026

UAE VAT Update 🇦🇪

New 5-Year Time Limit for VAT Refund Claims

Effective from 1 January 2026

The UAE VAT Law now introduces a 5-year statutory time limit for claiming VAT refunds or recovering excess input VAT.

What this means:
• ✅ VAT refund claims must be submitted within 5 years.
• ✅ The time limit applies to eligible VAT refunds and excess recoverable input VAT.
• ✅ Businesses should review outstanding VAT credits and submit claims before the deadline.

⚠️ Claims submitted after the applicable 5-year period may no longer be accepted.

14/07/2026

UAE VAT Update: Self-Invoicing Requirement Removed for Reverse Charge Mechanism (RCM)
Effective from 1 January 2026

The UAE VAT Law no longer requires businesses to issue self-invoices for transactions subject to the Reverse Charge Mechanism (RCM).

What Has Changed?
• ✅ Self-invoices are no longer mandatory for RCM transactions.
• ✅ Businesses must continue to account for VAT correctly under the Reverse Charge Mechanism.
• ✅ Supporting documents, such as supplier invoices, contracts, import records, and customs documentation, must be retained as required by the Executive Regulations.

Businesses should review their VAT processes and ensure proper documentation and compliance practices remain in place under the updated requirements.

09/07/2026

Zero rate VAT on Education Sector

As per the new FTA guide, Educational services carry Zero rate VAT if:

✔ It is provided by a Qualifying Educational Institution; and
✔ It is provided as per Qualifying Curriculum.

Qualifying Educational Institution: recognised (licensed) by competent Government Authority.
Qualifying Curriculum: Courses recognised by competent Government Authority.

Review your existing VAT treatment to ensure compliance.

07/07/2026

9 UAE VAT Mistakes That Trigger Penalties

✅ Late VAT Registration – Register within 30 days of crossing AED 375,000 turnover.
✅ Late VAT Return Filing – File returns within 28 days from end of tax period.
✅ Late VAT Payment – Settle VAT dues within 28 days from end of tax period.
✅ Incorrect VAT Returns – Ensure accurate reporting to avoid fines.
✅ Failure to Maintain Records – Keep complete VAT records as required.
✅ Late VAT Deregistration – Apply within the prescribed timeframe.
✅ Incorrect Information to FTA – Submit accurate updates and respond to notifications.
✅ Voluntary Disclosure Errors – Delays in rectifying errors can increase penalties.

Avoid costly fines by staying VAT compliant. Stay penalty-free.

02/07/2026

Claiming a Business VAT Refund in the UAE?

Before submitting Form VAT311 on the EmaraTax portal, make sure you have these essentials ready:

✅ Valid Tax Invoices
Accurate sales and purchase invoices showing the correct TRNs and VAT amounts.

✅ Eligibility Evidence
Clear accounting records and reports supporting your excess input VAT credit or VAT overpayment claim.

✅ Export Documentation
Official customs declarations, shipping documents, and supporting evidence for zero-rated exports.

✅ Verified Bank Details
An official bank IBAN letter to ensure smooth and timely refund processing.

Avoid delays. Maximize compliance.

JAXA Chartered Accountants can help you prepare, review, and submit your VAT refund claim with confidence.

30/06/2026

The Strategic Power of an External Audit 📈

✅ Compliance
Navigate UAE Corporate Tax and VAT requirements with confidence and accuracy.

🤝 Trust
Enhance credibility with banks, investors, and financial institutions through transparent financial reporting.

🛡️ Security
Reduce financial risks, strengthen internal controls, and identify irregularities before they become costly issues.

📊 Growth
Make informed business decisions with reliable financial insights and actionable recommendations.

Ensure Accuracy. Empower Growth.

Secure your business future with JAXA Chartered Accountants for professional external audit services that strengthen compliance, enhance transparency, and support sustainable business growth.

25/06/2026

Are Your Documents Ready for a UAE VAT Refund Claim?

Ensure accurate documentations are retained as below:
• Valid Tax Invoices
• Proof of Vendor Payments for Input VAT
• Import Documents

Common Reasons Why UAE VAT Refund Claims are Delayed/Rejected
• Missing or Incomplete Documentation
• Non-Compliant Tax Invoices
• Ineligible Input VAT Claims
• Incorrect VAT reporting
• Late Submission of the Claim

Important Reminder: VAT Refunds must be claimed within 5 years from end of relevant tax period.

Call – to - Action: Let our experts assist with accurate VAT refund claims.

23/06/2026

📑 Are Your Documents Ready for a UAE VAT Refund Claim?

Ensure accurate documentation is retained as below:

✔️ Valid Tax Invoices
✔️ Proof of Vendor Payments for Input VAT
✔️ Import Documents (if applicable)
✔️ Export Documents for 0% VAT Treatment
✔️ Documents Evidencing Out-of-Scope Treatment

⚠️ Important: Incomplete or insufficient documentation may delay or affect the refund application.

📌 Ready your documents early to ensure a smooth refund process.

19/06/2026

📘 Staff Training Insights – IFRS 15

Today our team participated in an engaging training session conducted by Mr. Melvin George, focusing on IFRS 15: Revenue from Contracts with Customers.

🔹 Five-Step Model:
• Step 1: Identify the Contract
• Step 2: Performance Obligations
• Step 3: Determine Transaction Price
• Step 4: Allocate Transaction Price
• Step 5: Revenue Recognition

🔹 Key Takeaways:
• Licenses of IP: Establishes a customer’s rights to the IP of another entity (e.g., Software, Franchises).
• Assurance Warranty: Product is free from defects; not a separate performance obligation.
• Service-Type Warranty: Provides services beyond fixing defects; separate performance obligation.
• Principal vs. Agent: Determine whether the company is a principal or an agent.
• Disaggregation: Revenue broken into categories like geography, contract duration, and timing of transfer.

At Jaxa Chartered Accountants, we remain committed to strengthening tax and audit excellence through structured training programmes, knowledge sharing, and practical guidance, ensuring our team consistently delivers high-quality and compliant professional services.

Address

M17, Al Mozna Building, Al Qusais
Dubai
P.OBOX92363

Website

http://www.jaxaauditors.com/

Alerts

Be the first to know and let us send you an email when Jaxa Chartered Accountants posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Jaxa Chartered Accountants: