Pull every WPS salary, client transfer, and POS line from your RAKBANK PDF into a clean spreadsheet — AED only, in seconds.
Convert your statementRAKBANK accepts freelance permit holders for basic and business accounts — the kind of one-product setup independent designers, developers, and consultants in the northern emirates use day to day. Account opening is faster than the larger banks, and the statement PDF is straightforward: AED only, English-dominant, single currency.
Since June 2023, UAE corporate tax is 9% on profits above AED 375,000. As a freelancer you are inside that net once your taxable income crosses the threshold. The FTA does not ask for the statement with the return — it asks you to keep it for seven years and produce it on request.
RAKBANK prints transaction date and posting date side by side. The description column carries SALARY, ONLINE TRANSFER, POS PURCHASE, ATM WITHDRAWAL, LOAN EMI, DIRECT DEBIT, and ETISALAT / du as the recurring labels. Client payments arrive as SALARY (if you are on a payroll) or ONLINE TRANSFER (if the client pushed funds to your IBAN).
DEWA, SEWA, and telecom direct debits sit clearly on separate rows. ATM withdrawals are AED. There is no multi-currency complexity for retail freelancer accounts, which makes reconciliation against invoices simpler than it would be on a larger bank.
Your CT base is revenue minus deductible business costs. Your FTA file is the bank statement plus the supplier invoices for the same period.
Primarily English PDF. Some product descriptions in Arabic. Dates DD/MM/YYYY. Modern digitally generated layout: transaction date, posting date, description, debit, credit, balance. Account type, IBAN, and statement period clearly shown. Summary section at end shows total debits, credits, and closing balance. No multi-currency complexity for most retail accounts.
| Label | Meaning |
|---|---|
| POS PURCHASE | Card payment at merchant terminal |
| ATM WITHDRAWAL | Cash dispensed from ATM |
| SALARY | WPS salary credit from employer |
| LOAN EMI | Monthly personal loan instalment |
| ONLINE TRANSFER | Fund transfer via internet banking |
UAE freelance permit holders are subject to 9% corporate tax on profits above AED 375,000 (since June 2023); statements must distinguish service income from personal transfers to calculate taxable profit.
Download your RAKBANK PDF
From RAKBANK Mobile or Digital Banking, request a statement covering your full CT period. Save the PDF.
Upload to Kashfbank
Drop the file in. We extract every row — AED, dates in DD/MM/YYYY, the full description string.
Tag rows for CT
Use the Category column to mark Revenue, Subscription, Telecom, Salary, and Other. The export keeps the original descriptor so your tax agent can verify each line.
Export to CSV
Download the CSV into Zoho Books or Xero. Keep the RAKBANK PDF for the seven-year FTA window.
Common challenges
Does the FTA accept a RAKBANK statement for a freelance CT return?
Yes. RAKBANK statements are accepted as primary evidence of revenue and expenses. The FTA does not require a specific bank — it requires a statement that matches the period.
Does Kashfbank handle older scanned RAKBANK PDFs?
Yes. Some legacy RAKBANK statements are image-scanned rather than digitally generated. We run those through OCR before extraction — accuracy drops slightly on faded print, and any low-confidence rows are flagged for review.
My client pays in USD via Wise. Will it appear on the statement?
The AED equivalent appears as an ONLINE TRANSFER credit. Keep the Wise transfer record alongside the bank line — the FTA wants both the bank credit and the source-side proof.
Are POS purchases at office supplies deductible from the converted file?
Kashfbank extracts the row with the merchant name. Deductibility is your tax agent's call — the file gives them the evidence they need to make it.
Tax Preparation
Convert PDF bank statements to clean spreadsheets for Zakat, VAT, corporate tax, and self-assessment filings across GCC and international markets.
Loan Applications
Prepare clean, lender-ready bank statement exports that prove stable income and responsible financial behavior for personal and business loan applications.
Mortgage Applications
Prepare 6–12 months of verified, structured bank statement data for mortgage underwriting — covering down payment seasoning, income stability, and GCC real estate requirements.
Regulator: Central Bank of the UAE (CBUAE)
Fiscal year: Jan 1 – Dec 31 (Gregorian)
Full country guide →Statement language: English