Taxation & Compliance VAT & Excise

  • Registration
  • Filing of returns
  • Voluntary disclosure
  • Tax Refund processing

Economic Substance Regulation (ESR)

  • Assessment of the company’s activities in the light of new ESR Regulations
  • Submission of Notification by a licensee who carries on a relevant activity
  • Submission of ESR Report by a licensee who has earned income from a relevant activity
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Anti-Money Laundering (AML)

The Ministry of Economy (MoE) has listed the businesses that need to register in the anti-money laundering systems before March 31. These include real estate agents, gold dealers, lawyers, auditors and corporate service providers.

We guide and assist in registration on GoAML portal, draft the manual, KYC documentation and preparation of training material.

Ultimate Beneficial Ownership - UBO

We guide and assist in compiling the information required by various free zones and other authorities and upload the UBO declaration on the portal.

We also assist in creating and maintaining the registers in compliance with the UBO notification.

Banking and Corporate Laws

We act as a virtual company secretary and draft notices and agenda of board meetings, resolutions, minutes etc. We also update the management on the amendments to the commercial laws as applicable.

We also guide and assist to maintain the statutory registers as required by the governing law.

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MBK Auditing has a rich experience in taxation and compliance that we have gathered over the years. Complying with tax laws and new commercial regulations that are constantly changing is a newly faced challenge for the top management. But we can help from tax planning to tax filing and everything in between. Our team of experienced professionals will help you prepare, manage and execute tax filings, and fully comply with all the regulations in the UAE. Our taxation and compliance services include VAT & Excise Tax, Economic Substance Regulations (ESR), Anti-Money Laundering Regulations (AML), Ultimate Beneficial Ownership (UBO) declaration, Banking and Corporate Laws. We make sure that your company remains tax compliant all the times. Our firm will help you in tax planning and make your business strictly complies with all applicable UAE laws and regulations. Our VAT and Excise Tax service primarily helps companies not only in tax planning but also in filing of tax returns and all other tax related procedures. We guide in maintaining the books of accounts and other records to comply with the UAE VAT and Excise Tax Laws. We communicate with the FTA officials to address grievances, penalty matters and process the refunds. We also assist in attending VAT and Excise Tax audit and answer the query of the audit team. We have a specialized team of tax experts who are familiar with latest amendments in VAT and Excise Tax laws in UAE.

The Economic Service Regulations (ESR) apply to all entities carrying out relevant activities in UAE including those functional in free zones and the financial free zones. Such entities need to demonstrable economic substance in UAE based on their activities. The entities need to submit report and notifications every year to the regulatory authorities as applicable The relevant activities include banking, insurance, investment fund management, finance leasing, shipping, intellectual property, holding companies and distribution and service centers. MBK Auditing stands by you in every step here. We can review your organization structure and business activities to examine the applicability of the ESR regulations and advice you how to best comply with them. We can help you to draft and submit the notification and report as applicable. We can also help you to file an appeal to annul any penalty wrongly levied.

Anti-money laundering (AML) service helps you to comply with AML Regulations by setting up appropriate systems and procedures, drafting training manuals, carrying out due diligence and monitoring suspicious financial activities in your company, if any. We ensure that all AML requirements are strictly followed. We also help prevent companies from violating the regulations in place. We provide a thorough solution to the businesses to successfully manage and comply with the complex and multi-faceted provisions of AML. Our AML analysts coherently understand the finer details of all parts of the business and hence offer desired results.

MBK Auditing is also known to provide Ultimate Beneficial Ownership (UBO) declaration service. The Financial Action Task Force (FATF); an international body that sets standards for anti-money laundering and counter-terrorism finances, has issued guidelines on ultimate beneficial ownership. We assist the companies in maintaining UBO register, submit the initial UBO declaration and changes in future. Implementing the provisions of UBO is a new challenge before the corporates. We have experience and expertise in handling UBO matters under DED as well as free zones in Dubai and Abu Dhabi.

We assist you to follow all corporate and banking laws. Our service is surely beneficial for the longevity and success of the business. We believe in ethical growth of every business. With our innovative and strategic banking and corporate law service, the businesses minimize the risk of noncompliance, litigation and financial penalties. We also provide expert counsel in drafting and vetting commercial agreements and MOU’s.

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“ We offer multitude of services and for details, visit our services page and get the details of the support and consultancy for the businesses. We are always prepared to talk to our customers. Get connected. ”

Dubai
1904, Al Moosa Tower 2, Near Emirates Towers Metro Station & Millennium Hotel, Sheikh Zayed Road, Dubai United Arab Emirates
+971 4 3585 133
Abu Dhabi:
M2, Al Sultan Bakery Building,
Sector 18-01, Muroor St. P.O. Box 26380
+971 2 564 8444
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