Close clean accounting periods
Reconcile bank, receivables, payables, payroll, inventory and fixed assets. Keep source documents linked to entries and prevent silent backdated edits after review. Accounting net profit or loss is the starting point before tax adjustments.
Record tax decisions explicitly
Separate non-deductible expenses, exempt income and other adjustments. Document Free Zone analysis and any Small Business Relief election rather than assuming a zero result from the company name or licence.
Prepare before the return deadline
Use a year-end checklist, trial balance, general ledger and adjustment schedule. The FTA notes that supporting records include transactions, assets, liabilities and other documents supporting the return. Malyon keeps these connected and exportable.
See the process in Malyon
The demo is read-only: you can open every relevant section without changing data.
- Open the demo workspace
- Choose the section mentioned in this guide
- Open documents, checks and reports to see the complete flow
Frequently asked questions
Is revenue the same as taxable income?
No. Taxable income begins with accounting profit or loss and is adjusted under Corporate Tax rules.
Who may elect Small Business Relief?
Eligibility has conditions, including the applicable revenue threshold and exclusions. Review the current FTA guidance for each tax period.