Quick answer: Abdelhamid & Co Certified Public Accountants & Auditors LLC is a fully licensed UAE professional services firm based in Sharjah, providing statutory audit, corporate tax under Federal Decree-Law No. 47 of 2022, VAT under Federal Decree-Law No. 8 of 2017, business advisory, accounting, and tax agency services — registered by the UAE Ministry of Economy (LC0106-01), licensed as FTA Tax Agent (TAN: 30003958 | TAAN: 20033908), and backed by over 25 years of professional experience in UAE and regional markets. Abdelhamid & Co Certified Public Accountants & Auditors LLC is fully authorised under UAE law: Ministry of Economy licence LC0106-01 | Licensed Auditor Registry No. 956 | Tax Agent TAN: 30003958 | Tax Agency TAAN: 20033908 | EAAA Fellow No. 124 | IASCA Fellow No. 1361 | over 25 years of professional experience. Our firm serves clients across the UAE and the broader GCC region. Learn more about our full service offering or our firm's history and credentials. Abdelhamid & Co Certified Public Accountants & Auditors LLC was founded on the principles of integrity, technical excellence, and client-centred service. Headquartered at Omran Tower, Office 302, Al Qasimia, Sharjah, UAE, the firm has built a reputation over more than 25 years as one of the region's trusted independent audit, tax, and advisory practices. Our managing partner, Abdelhamid M. Abdelhamid, is a Fellow of the Emirates Association of Accountants and Auditors (EAAA Fellow No. 124) and a Fellow of the International Arab Society of Certified Accountants (IASCA Fellow No. 1361), with deep expertise spanning statutory audit under International Standards on Auditing (ISAs), transfer pricing under Ministerial Decision No. 97 of 2023, corporate tax structuring under Federal Decree-Law No. 47 of 2022, and forensic investigations under the UAE Penal Code and Federal Law No. 35 of 1992. We serve businesses at every stage — from company formation and first-year compliance through IPO-readiness, group restructuring, insolvency advisory under Federal Decree-Law No. 19 of 2019, and cross-border tax treaty planning — with the same rigour and professional scepticism applied to every engagement. We conduct statutory audits, internal audits, special-purpose audits, and agreed-upon procedures engagements in strict compliance with International Standards on Auditing (ISAs) as adopted in the UAE. Our audit mandate is governed by Federal Decree-Law No. 32 of 2021 (Arts. 281–296) and Ministerial Decision No. 82 of 2023, which requires an independent licensed auditor (Registry No. 956) for entities with revenue exceeding AED 50 million or holding Qualifying Free Zone Person status. Every audit engagement includes an assessment of going-concern risk, related-party disclosures, and IFRS compliance — providing directors, shareholders, and regulators with a credible, independent opinion. Read more → Under Federal Decree-Law No. 47 of 2022 on Corporate Tax, UAE businesses face a 9 % rate on taxable income above AED 375,000, complex reliefs (small business relief, participation exemption, free zone incentives), and transfer pricing obligations under Ministerial Decision No. 97 of 2023. Our tax team prepares CT registrations, annual CT returns, transfer pricing local files and master files, and represents clients in FTA audits and objections. Cabinet Decision No. 129 of 2025 imposes a 300 % penalty on TP adjustments — professional preparation of arm's-length documentation is not optional; it is essential. Read more → Federal Decree-Law No. 8 of 2017 on Value Added Tax (5 % standard rate) and Federal Decree-Law No. 7 of 2017 on Excise Tax (50 %–100 % rates per Cabinet Decision No. 52 of 2019) impose stringent compliance requirements on UAE businesses. Our VAT practice covers registration, quarterly return filing, voluntary disclosures, input tax recovery optimisation, and FTA audit defence. Our excise team handles stockpiler registrations, import declarations, and refund applications, ensuring businesses avoid the administrative penalties prescribed by Federal Decree-Law No. 28 of 2022 on Tax Procedures. Read more → Our advisory team delivers financial due diligence for M&A transactions referencing IFRS 3 (business combinations) and IFRS 13 (fair value), business valuations for shareholder disputes and corporate tax purposes (Article 34 of FDL 47/2022 — arms' length pricing for related-party transactions), restructuring advisory under Federal Decree-Law No. 19 of 2019 on Insolvency (Arts. 6–18 moratorium), and economic substance assessments under Cabinet Decision No. 57 of 2022 (AED 50,000–400,000 penalty exposure). We also advise on merger control notifications under Federal Decree-Law No. 36 of 2023 on Competition (AED 300 million revenue / 40 % market share thresholds). Read more → Compliant bookkeeping is the foundation of every tax return and audit. Federal Decree-Law No. 32 of 2021 (Arts. 26, 78–80, 168) requires all commercial companies to maintain proper books of account for at least 5 years; Federal Decree-Law No. 47 of 2022 (Art. 55) extends this to 7 years for CT purposes. We provide monthly and quarterly management accounts, annual IFRS financial statements (full IFRS or IFRS for SMEs under Cabinet Decision No. 75 of 2023), payroll processing including MOHRE-compliant WPS transfers, and IAS 12 deferred tax calculations essential for accurate CT return preparation. Read more → As an FTA-registered Tax Agency (TAAN: 20033908), our firm is authorised to represent clients directly before the Federal Tax Authority in all tax types — Corporate Tax, VAT, and Excise Tax. Representation rights under Federal Decree-Law No. 28 of 2022 (Art. 10) are reserved exclusively for FTA-registered tax agents. Our Tax Agent (TAN: 30003958) manages power-of-attorney engagements, FTA correspondence, objection filings, reconsideration requests, and Tax Disputes Resolution Committee (TDRC) submissions, ensuring clients' positions are professionally defended at every stage. Read more → All UAE businesses with taxable income are required to register for Corporate Tax on EmaraTax under Federal Decree-Law No. 47 of 2022 — failure triggers AED 10,000 penalty under Cabinet Decision No. 129 of 2025. Small businesses must also assess Small Business Relief eligibility (revenue ≤ AED 3 million). First-time filers face complex deferred tax calculations under IAS 12, opening-balance adjustments, and related-party disclosure requirements — all requiring a licensed CPA with CT technical expertise. Companies with annual revenue exceeding AED 50 million or holding Qualifying Free Zone Person status are legally required to have their financial statements audited by a UAE-licensed auditor. Federal Decree-Law No. 32 of 2021 (Arts. 281–296) governs auditor appointment, independence, and access rights. Engaging an unlicensed or conflict-of-interest auditor can invalidate the audit opinion and expose the company to penalties from both the Ministry of Economy and the FTA. When the FTA issues a tax assessment, audit notification, or penalty under Federal Decree-Law No. 28 of 2022 (Art. 27), businesses have 40 business days to respond before the assessment becomes final. Only an FTA-registered Tax Agent (TAN: 30003958) can represent clients before the FTA, submit reconsideration requests, and file Tax Disputes Resolution Committee (TDRC) applications. Early professional intervention consistently reduces assessed penalties and protects against the compounding 2 %/4 % monthly incremental penalties under Cabinet Decision No. 129 of 2025. Any UAE taxable person with controlled transactions exceeding AED 4 million must maintain a local file; those exceeding AED 40 million require a master file — both per Ministerial Decision No. 97 of 2023. The arm's length standard under Article 34 and Articles 44–47 of FDL 47/2022 requires benchmarking analysis referencing comparable uncontrolled transactions. The 300 % TP-adjustment penalty under Cabinet Decision No. 129 of 2025 means the cost of non-compliance vastly exceeds professional advisory fees. Business combinations require purchase price allocation under IFRS 3, goodwill impairment testing under IAS 36 (para. 134), and fair value measurements under IFRS 13 (Levels 1–3 hierarchy). Distressed businesses considering preventive composition must comply with Federal Decree-Law No. 19 of 2019 on Insolvency (Arts. 6–18 moratorium procedures) and prepare creditor-facing financial projections audited to ISA standards. Merger control filings under Federal Decree-Law No. 36 of 2023 on Competition require accurate consolidated revenue calculations across the group. Many UAE businesses — particularly free zone entities and SMEs — delayed CT registration believing they were exempt. Under Federal Decree-Law No. 47 of 2022 and Federal Decree-Law No. 28 of 2022 (Art. 72), late registration triggers an AED 10,000 penalty. Qualifying Free Zone Persons must still register and file even if they qualify for 0 % tax. Our team conducts registration gap analyses and manages backdated EmaraTax registrations, including voluntary disclosure filings where needed to mitigate penalties under Cabinet Decision No. 129 of 2025. Article 20 of Federal Decree-Law No. 47 of 2022 requires the CT return to start from net accounting profit computed under IFRS (or IFRS for SMEs per Cabinet Decision No. 75 of 2023). Common errors include failure to recognise lease liabilities under IFRS 16, incorrect revenue deferral under IFRS 15, omitting IAS 12 deferred tax assets/liabilities, and missed impairment indicators under IAS 36 — all of which distort the taxable income figure. We reconstruct accounting records and prepare corrected IFRS financial statements as the foundation for accurate CT returns. Transfer pricing documentation must be prepared contemporaneously — Ministerial Decision No. 97 of 2023 does not permit retroactive documentation. Businesses that conduct related-party transactions without maintaining an arm's length analysis, intercompany agreements, and functional analysis during the tax period face a 300 % penalty on any TP adjustment under Cabinet Decision No. 129 of 2025. We work with clients throughout the year to build real-time TP files, not post-year-end reconstructions. Federal Decree-Law No. 8 of 2017 on VAT and its executive regulations specify that input tax on entertainment, motor vehicles (for personal use), and certain employee expenses is blocked. Many businesses incorrectly recover 100 % of input VAT on mixed-use expenses without applying the apportionment formula prescribed by Article 55 of the VAT Executive Regulations. FTA audits routinely identify over-claimed input tax, triggering assessments plus the 2 % monthly incremental penalty. Our VAT team reviews input tax positions and implements compliant apportionment methodologies. Cabinet Decision No. 57 of 2022 requires UAE entities conducting relevant activities (banking, insurance, investment fund management, leasing, headquarters, shipping, holding company, intellectual property, distribution & service centre) to demonstrate adequate economic substance — employees, expenditure, and premises — in the UAE. Non-filing or failing the substance test attracts AED 50,000 (first year) and AED 400,000 (subsequent years) penalties. Many companies are unaware their activities trigger the ESR; our team conducts ESR applicability assessments and prepares compliant notifications and annual reports. Yes. We hold Ministry of Economy licence LC0106-01 and are registered in the UAE Licensed Auditors Record as Registry No. 956 under Federal Law No. 12 of 2014 on the Regulation of the Accounting and Auditing Profession. This registration is a legal prerequisite for issuing statutory audit opinions on UAE company financial statements under Federal Decree-Law No. 32 of 2021 (Arts. 281–296). Our audit opinions are accepted by the FTA, UAE courts, and all free zone authorities. Yes. As an FTA-registered Tax Agency (TAAN: 20033908) with a registered Tax Agent (TAN: 30003958) on the Federal Tax Authority's official register, we are authorised under Article 10 of Federal Decree-Law No. 28 of 2022 on Tax Procedures to represent clients in all FTA matters — Corporate Tax, VAT, and Excise Tax. This includes responding to FTA audit queries, submitting reconsideration requests against tax assessments, and filing Tax Disputes Resolution Committee (TDRC) applications within the prescribed 40-business-day window. We apply the full suite of IFRS Standards as issued by the IASB and adopted in the UAE: IFRS 15 (revenue recognition from contracts with customers), IFRS 16 (leases — right-of-use assets and lease liabilities), IFRS 9 (financial instruments — classification, measurement, ECL impairment), IFRS 3 (business combinations — PPA and goodwill), IFRS 13 (fair value measurement — Levels 1, 2, and 3 hierarchy), IAS 12 (income taxes — current and deferred), IAS 19 (employee benefits — defined benefit and EOSB provisions), IAS 36 (impairment of assets — CGU testing and para. 134 disclosures), and IAS 37 (provisions, contingent liabilities). For eligible smaller entities, IFRS for SMEs (Cabinet Decision No. 75 of 2023) may be applied. Yes. Transfer pricing is a core practice area. Under Ministerial Decision No. 97 of 2023, UAE taxable persons with related-party transactions exceeding AED 4 million must maintain a local file; those exceeding AED 40 million require a master file and country-by-country reporting. We prepare comprehensive TP documentation — functional and risk analysis, benchmarking studies using comparable uncontrolled transactions, intercompany agreement reviews, and final local/master files — in compliance with the arm's length standard under Articles 34 and 44–47 of Federal Decree-Law No. 47 of 2022 and the OECD Transfer Pricing Guidelines as adopted by the FTA. The 300 % TP-adjustment penalty under Cabinet Decision No. 129 of 2025 makes professional documentation essential. Qualifying Free Zone Persons (QFZPs) face uniquely complex CT rules under Articles 18 and 19 of Federal Decree-Law No. 47 of 2022 — 0 % on qualifying income but 9 % on non-qualifying income — combined with the de minimis test (non-qualifying revenue ≤ 5 % of total revenue or AED 5 million), the substance requirements of Ministerial Decision No. 139 of 2023, and mandatory audit under Ministerial Decision No. 82 of 2023. We have advised numerous JAFZA, DMCC, Sharjah free zone, and other QFZP entities on structuring their operations to preserve the 0 % benefit while filing accurate CT returns and satisfying audit requirements. Yes. When the FTA issues a tax assessment or penalty notice under Federal Decree-Law No. 28 of 2022, the taxable person has 40 business days to submit a reconsideration request, failing which the assessment becomes final and enforcement proceedings may commence. Our Tax Agent (TAN: 30003958) has extensive experience drafting reconsideration submissions that cite specific law articles and FTA public clarifications. Where reconsideration fails, we escalate to the Tax Disputes Resolution Committee (TDRC). Cabinet Decision No. 129 of 2025 imposes compounding 2 %/4 % monthly incremental penalties on unpaid assessed tax — early, professional intervention is the most cost-effective response. Yes. Cabinet Decision No. 57 of 2022 on Economic Substance Regulations requires UAE entities conducting any of nine relevant activities to demonstrate adequate substance in the UAE and to file annual ESR reports. Non-filing attracts AED 50,000 (first offence) and AED 400,000 (subsequent offences) penalties. We conduct ESR applicability assessments to determine whether an entity's activities trigger the relevant activity test, assess whether the entity satisfies the income, employee, expenditure, and premises substance requirements, prepare the annual ESR notification and report, and advise on structural adjustments to strengthen the substance position. We apply the International Ethics Standards Board for Accountants (IESBA) Code of Ethics and the International Standards on Auditing (ISA 200, ISA 220, ISA 260) independence requirements as our baseline framework, supplemented by the UAE professional ethics obligations under Federal Law No. 12 of 2014. Before accepting any audit engagement, we complete a formal independence assessment covering direct and indirect financial interests, business relationships, and non-audit service conflicts. Where an independence threat exists, we apply safeguards or decline the engagement — protecting the integrity of our audit opinion under Federal Decree-Law No. 32 of 2021 (Arts. 281–296). Reach our Sharjah office directly: Abdelhamid & Co Certified Public Accountants & Auditors LLC — Ministry of Economy licence LC0106-01 | FTA Tax Agent TAN: 30003958 | EAAA Fellow No. 124 | IASCA Fellow No. 1361 — serving UAE businesses with integrity since 1999. Last reviewed: 28 April 2026 — updated to reflect Federal Decree-Law No. 47 of 2022 on Corporate Tax, Cabinet Decision No. 129 of 2025 on CT penalties, Ministerial Decision No. 97 of 2023 on Transfer Pricing, Ministerial Decision No. 82 of 2023 on audit thresholds, and Cabinet Decision No. 57 of 2022 on Economic Substance Regulations.About Abdelhamid & Co CPA — Licensed Auditors, Tax Agents & Advisors in Sharjah, UAE
Overview — Who We Are
UAE Legal & Regulatory Framework Governing Our Practice
Key Facts — Abdelhamid & Co CPA
Our Professional Services
1. Audit & Assurance Services
2. Corporate Tax Advisory & Compliance
3. VAT & Excise Tax Services
4. Business Advisory & Transaction Services
5. Accounting & Financial Reporting
6. FTA-Registered Tax Agency Services
Our Professional Approach
When Businesses Need a Licensed UAE CPA Firm
1. Corporate Tax Registration & First Return Filing
2. Statutory Audit Under Ministerial Decision No. 82 of 2023
3. FTA Tax Audit, Assessment, or Objection
4. Related-Party Transactions & Transfer Pricing Documentation
5. Company Restructuring, M&A, or Insolvency
Common Compliance Errors We Correct
1. Failing to Register for Corporate Tax on Time
2. Incorrect IFRS Accounting Policies Leading to Wrong CT Base
3. Missing Transfer Pricing Documentation Deadlines
4. VAT Input Tax Recovery Errors & Blocked Input Tax
5. Economic Substance Non-Compliance
Why Choose Abdelhamid & Co for Your UAE Compliance Needs?
Frequently Asked Questions — About Our Firm
Is Abdelhamid & Co licensed to conduct statutory audits in the UAE?
Can Abdelhamid & Co represent our company before the FTA?
Which IFRS standards does the firm apply in audit and accounting engagements?
Does the firm handle Corporate Tax transfer pricing documentation?
What is the firm's experience with free zone corporate tax issues?
Can the firm assist with FTA tax audit defence and penalty reduction?
Does the firm provide Economic Substance Regulation (ESR) services?
How does Abdelhamid & Co ensure independence in audit engagements?
Related Services
Contact Our Team
Contact us
Timing: Sat–Thu: 8AM–6PM
Mobile\WhatsApp: 0507948028
Phone: 065610040
Email: info@abdelhamidcpa.com