Precious Metals Specialists
Trusted Accountants for Jewellers in UAE
Your inventory value fluctuates daily with global gold prices while VAT treatment varies between investment-grade bullion and finished jewellery. We deliver accounting systems that track high-value inventory by weight and purity, apply correct VAT treatment including reverse charge mechanisms, and maintain the AML documentation your DPMS status requires.
Our Technology Ecosystem
Specialized Accounting Services for Jewellers in UAE
Jewellery businesses manage inventory worth millions in portable, high-value assets whose price changes with every market movement. Investment-grade gold at 99% purity qualifies for zero-rated VAT while finished jewellery and making charges attract standard 5% rates. Our jeweller accountants UAE understand precious metals accounting, the domestic reverse charge mechanism for B2B transactions, and the DPMS compliance requirements that protect your license.
Complex Financial Dynamics in Jewellery Operations
Jewellery accounting centers on inventory valuation complexity unlike any other retail sector. Gold prices fluctuate daily based on international markets, meaning your inventory value changes constantly even without any sales. Many jewellers use marked-to-market valuation to reflect current prices, while others apply weighted average or FIFO methods. Each approach has different implications for your profit margins and corporate tax position.
VAT treatment requires careful classification of every transaction. Investment-grade precious metals at 99% or higher purity in tradable form qualify for zero-rating on first supply. Finished jewellery attracts 5% VAT on the full invoice including making charges. B2B transactions between VAT-registered businesses trigger the domestic reverse charge mechanism under Cabinet Decision No. 127 of 2024, where the buyer accounts for VAT instead of the seller.
Our bookkeeping for jewellers addresses these requirements through inventory systems that track by weight, purity, and current market value while maintaining the transaction records and customer documentation your AML obligations demand.
Our Expert Services
Complete Financial Services for Jewellery Businesses
From daily inventory valuation to AML transaction reporting, our accounting support for jewellers covers every aspect of precious metals financial management. We integrate with your point-of-sale and inventory systems to track stock movements while delivering the compliance documentation that regulators and auditors expect from DPMS businesses.
Gold inventory valuation by weight and purity, daily price adjustment tracking, cost of goods sold calculation, making charge allocation, and consignment stock management.
Physical inventory verification support, stock count reconciliation, internal control assessments for high-value assets, and annual financial statement preparation.
Investment gold zero-rating documentation, finished jewellery standard-rating, domestic reverse charge mechanism compliance, tourist refund scheme support, and FTA filing.
Sales staff commission calculations, goldsmith wage processing, showroom employee payroll, gratuity provisioning, and WPS-compliant salary transfers.
Inventory valuation method optimization, cost of goods sold calculation, profit margin analysis, and 9% corporate tax compliance for jewellery retailers.
DPMS AML compliance support, DPMSR filing on goAML platform, customer due diligence documentation, suspicious transaction monitoring, and record retention.
Let’s Simplify Your Finance, Tax & Compliance Challenges
Supporting Every Jewellery Business Type and Scale
Our jewellery financial advisory services span the complete spectrum of UAE precious metals operations. We serve retail jewellery showrooms, wholesale bullion traders, gold manufacturing workshops, diamond dealers, gemstone importers, and luxury watch retailers.
Each business type carries distinct accounting requirements. Retailers track finished goods with making charges and design premiums. Wholesalers manage bullion by weight with daily price adjustments. Manufacturers allocate raw material costs across production batches. Diamond dealers maintain stone-by-stone inventory with certification tracking.
Whether you operate from the Gold Souk, a luxury mall showroom, DMCC free zone, or Dubai Gold and Diamond Park, our jeweller business tax services adapt to your specific business model and regulatory environment.
UAE Wide Coverage
Jewellery Accountants Across All Emirates
Supporting jewellers and precious metals dealers throughout UAE with inventory accounting and DPMS compliance.
Dubai
Serving Gold Souk retailers and DMCC traders with inventory valuation and reverse charge compliance.
Sharjah
Jewellery accounting in Sharjah Gold Souk with DPMS compliance and inventory management systems.
Why Taxfin ABM
Built for Precious Metals Complexity
Jewellery businesses choose Taxfin ABM because we understand that precious metals accounting requires daily inventory revaluation, sophisticated VAT classification between investment gold and finished jewellery, and strict AML compliance as a Designated Non-Financial Business.
Our Jewellery Expertise
Inventory Valuation
Gold tracked by weight and purity with daily market price adjustments and valuation method optimization.
VAT Classification
Investment gold zero-rating versus finished jewellery standard-rating with reverse charge mechanism compliance.
AML Compliance
DPMS transaction reporting on goAML platform with customer due diligence and record retention support.
Making Charges
Proper allocation of design, craftsmanship, and labour costs with correct 5% VAT treatment.
High-Value Security
Internal controls and financial safeguards designed specifically for portable high-value asset management.
Our Process
Implementation Approach
Onboarding jewellery clients requires understanding your inventory categories, valuation methods, transaction types, and AML obligations before establishing compliant financial reporting workflows.
Business Assessment
We analyze your inventory types, pricing methods, transaction volumes, and DPMS status to design appropriate accounting systems.
Systems Configuration
Our team configures your chart of accounts for inventory tracking, VAT classification, and AML transaction documentation.
Ongoing Financial Management
Daily inventory valuations, monthly management accounts, quarterly VAT returns, DPMSR filings, and annual audited statements.
Let’s connect
Need Assistance?
Have a project in mind or questions about our services? We’re here to assist you every step of the way. Reach out to us anytime!
Location
Office No 805-038 Clover Bay, Plot No 42-0 Business Bay, Land DM No,346-454, UAE
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FAQs
Frequently Asked Questions
Is gold jewellery subject to VAT in UAE?
Yes. Finished gold jewellery attracts 5% VAT on the full invoice value including making charges. Only investment-grade precious metals at 99% purity or higher in tradable form qualify for zero-rating.
What is the reverse charge mechanism for gold?
Under Cabinet Decision No. 127 of 2024, B2B transactions in precious metals between VAT-registered businesses require the buyer to account for VAT instead of the seller charging it.
What is DPMS and why does it matter?
Dealers in Precious Metals and Stones are designated non-financial businesses subject to AML regulations. Transactions of AED 55,000 or more require customer identification and DPMSR filing on goAML.
How should jewellers value gold inventory?
Options include marked-to-market for current prices, weighted average, or FIFO methods. Each approach affects profit margins differently. The choice impacts both financial reporting and corporate tax.
Are making charges subject to VAT?
Yes. Making charges for design, craftsmanship, and labour are included in the taxable value and attract 5% VAT as part of the composite supply of finished jewellery.
What reports do jewellery businesses receive?
Daily inventory valuations, stock movement reports, monthly profit margins by product category, quarterly VAT returns, DPMSR filing support, and annual audited financial statements.