UAE Waives AED 10,000 Corporate Tax Penalty: All You Need to Know Corporate tax in the UAE can seem confusing for many businesses and individuals. When the UAE first introduced corporate tax, everyone had questions about the rules, who should register, and which companies must pay. There was an AED 10,000 penalty for late registration, […]

Money Laundering Risks for Precious Metals Dealers UAE Dealers in precious metals and stones (DPMS) play an important role in the UAE business sector. UAE law (Cabinet Decision No. 10 of 2019) names them as DNFBP (Designated Non-Financial Businesses and Professions) when they handle money transactions worth AED 55,000 or more, or when several linked […]

Ways to Simplify & Optimize Small Business Accounting System Accounting always plays a vital role in every small business in Dubai. The right accounting system helps owners keep track of income and expenses with accuracy. Owners must keep up-to-date records so they can give clear financial information to investors, management, and the government. The financial […]

Internal Audit Challenges and Complications in UAE Internal audits help a company improve its operations and make sure it follows every rule. The management in any business can use an internal audit to find weaknesses in the system and take steps to fix them. Internal auditors always work as independent consultants who check if everything […]

Steps for a Successful Annual Audit in UAE Every company in the UAE must take its annual audit seriously. An annual audit checks the company’s internal controls and helps manage risks. Management and the board of directors use audit results to find out about weaknesses and fix mistakes. The audit gives a chance to improve […]

How Audit Firms Help Start-ups Attract Investors in Dubai Every business needs money to run its operations. Start-ups in Dubai often struggle to find enough funds in the beginning. Entrepreneurs may have bright ideas, but they can’t always start a company without outside help. Many new companies look for external investors who provide seed money […]

Top VAT Tips for Entrepreneurs in UAE VAT started in the UAE on January 1, 2018. After this date, everyone who must pay VAT needs to register on time. All businesses must collect and pay VAT the right way. They must file their VAT returns before the deadline. If someone does not follow the VAT […]

Internal Audit Checklist for Business Firms in UAE Every business in the UAE needs an internal audit checklist to stay on track and follow the law. This checklist acts as a guide for auditors and helps the business run smoothly. The team at Mubarak Al Ketbi (MAK) Auditing prepares these checklists for companies to make […]

VAT on Services in UAE Designated Zones Businesses in the UAE often operate in special places called designated zones. These areas, also known as free zones, attract many investors by offering tax breaks and easy business rules. Not all free zones are the same, though. When the UAE introduced VAT, it set apart about 20 […]

External Audit Services in Dubai External audit services in Dubai help companies stay credible and trustworthy in front of everyone. Companies in Dubai gain lots of advantages when they get these audits done by a professional firm like Mubarak Al Ketbi (MAK) Auditing. Let’s see why you should never skip your annual external audit and […]

Understanding Electronic Services in the UAE People use electronic services every day in the UAE. Article 23 of Cabinet Decision No.52, 2017, explains what electronic services are. These services happen automatically by using the internet or any electronic network. No human needs to do the work directly. You get or give these services online, not […]