Saturday, 13 January 2018
Saturday, 16 December 2017
DMCC Approved Auditors
08:20
SAIF CHARTERED ACCOUNTANTS
DMCC Approved Auditors
https://www.saifaudit.com/blog/2017/12/16/dmcc-approved-auditors/DMCC Approved Auditors: Saif Chartered Accountants (SFAI International) is one of the approved auditors in DMCCA/JLT (DMCC Approved Auditors List number: 148497 Saif Chartered Accountants )
Click here for the complete list
Why Saif Chartered Accountants as your DMCC Auditor?
Saif Chartered Accountants, the leading auditing firm in Dubai, UAE cater all your licensing needs in DMCC. Established in 1994, with offices in Dubai, Hamriyah Free Zone, Sharjah and associate offices in RAK Free Trade Zone, London, Cardiff and India. Saif Audit cater to a wide spectrum of clientele from diversified industries located in UAE.
We are affiliated to Santa Fe Associates International (SFAI), a professional services firm helping clients develop better business strategies that build on their unique inherent and potential strengths the philosophy of the company, how it is organized to understand market opportunities and customer needs, and the methods it uses to deliver products and services. We help companies to continually adapt and continually improve.
DMCCA AUDIT : PENALTIES FOR NON COMPLIANCE OF AUDIT FOR COMPANIES IN DMCCA/ JLT
As per the DMCC Audit regulations, every new company licensed in DMCC has to appoint an auditor, approved by DMCC, and sumbit auditor’s appointment letter to DMCC with in 30 days of the licensing date.
Its mandatory to submit the audited financial to DMCC within 90 days of the financial period . Non-compliance of the above will attract DMCC penalties.
CALL US : +971 4 4518600, MOB : +971 50 8550 765, +971 50 675 9158
or mail us: info@saifaudit.com
Get an appointment in our office : Click here
or Chat With Us
1106, The Prism, Sheikh Zayed Road, Business Bay – Dubai
Tuesday, 14 November 2017
Monday, 13 November 2017
Free Zone Companies required to register for VAT in UAE?
02:22
SAIF CHARTERED ACCOUNTANTS
Is VAT registration mandatory for Free Zone companies in Dubai, UAE?
The short answer is YES. In recent, DMCC, DWC Free zones advised their customers to register for VAT.DWC :
There are strict deadlines on the requirement to register for tax, which are dependent on the size of your business. We recommend that you read the guidelines set out in the following website and register in advance to ensure you avoid incurring any fines”
DMCC:
Dear Valued Member,JAFZA
The VAT Executive Regulations have not been released into the public domain and complete clarity on the treatment of Free Zones is still awaited.
However, based on the available information, we understand that all entities having a taxable supply exceeding AED 375,000 would be required to register for VAT and those with taxable supply between AED 187,500 and AED 375,000 may opt to register for VAT.
Further, the Ministry of Finance has issued the following deadlines for registration:
- Before 31 October 2017 – Businesses with a turnover exceeding AED 150m should apply for registration
- Before 30 November 2017 – Businesses with a turnover exceeding AED 10m should apply for registration
- Before04 December 2017 – All other business entities should submit their application to minimize the risk of not being registered in time for VAT go-live
We will share further information as soon as it is announced by the FTA. Nevertheless, you will need to be registered in order to claim back any VAT you pay as a business.
Our advice is to start the registration as soon as possible
Federal Tax Authority advised to do the registration for companies registered under JAFZA as well.
Other Free Zones: Its advised to register
Saif Chartered Accountants provide Vat Registration Services, Complete VAT Consultancy Services all around the UAE – Dubai, Abu Dhabi, Ajman Ras- Al Khaimah, Fujairah & Umm-Al Quwain.
