How Audits Ensure Compliance with UAE Corporate Tax and Free Zone Rules
Compliance with corporate tax laws and free zone regulations is paramount for sustainable growth and legal integrity. The UAE has refined its tax framework, placing greater emphasis on transparency, economic substance, and alignment with international standards like the OECD’s Base Erosion and Profit Shifting (BEPS) initiatives. These updates reflect the UAE’s commitment to maintaining a […]
UAE Corporate Tax & Compliance Guide: 2024 Updates You Need to Know
The UAE has introduced several significant changes to its corporate tax and compliance landscape. These changes are crucial for companies offering accounting, auditing, tax, regulatory compliance, AML, and business and finance advisory services. Below, we outline the most critical updates and their implications for businesses operating in the UAE. Corporate Tax Regime The UAE’s new […]
How To Ensure if Your Company is AML/CFT Compliant
Integrating the financing of terrorism (CFT) mechanisms and anti-money laundering (AML) strategies with your business operations can be a bit challenging. It becomes even more complicated when you have the most complex business structure, especially in size. The downsides of non-conformity to CFT/AML benchmarks are huge. They include muscular fines, financial sanctioning, and many others. All these […]
AML checklist for charity organizations
Keeping an Anti-Money Laundering (AML) policy and procedures in place is crucial for charity organizations to maintain integrity, transparency, and compliance with legal regulations 1. AML Policy and Procedures: 2. Risk Assessment: 3. AML Training: 4. Customer Due Diligence (CDD): 5. Transaction Monitoring: 6. Record Keeping: 7. Reporting Suspicious Activities: 8. Whistleblower Policy: 9. Third-Party Relationships: 10. Geographic Risk Assessment: 11. Cash Handling Controls: 12. Donation […]
AML COMPLIANCE CHECKLIST FOR THE REAL ESTATE SECTOR IN THE UAE
Anti-Money Laundering (AML) compliance is essential in the real estate sector to prevent illicit financial activities. This comprehensive checklist provides a detailed overview of the key steps involved in ensuring AML compliance in the UAE’s real estate sector: Anti-Money Laundering (AML) -Real Estate Compliance Know Your Customer (KYC) Customer Identification: Collect relevant information to identify […]
Case Study: Business Restructuring of a Trading LLC in Dubai, UAE
Company Overview Industry: Wholesale and Retail TradeLocation: Dubai, UAEEstablished: 2005Revenue (2023): AED 300 millionEmployees: 200Challenges: Declining profitability, high operational costs, regulatory compliance issues, inefficient tax planning, and lack of internal control mechanisms. Pre-Restructuring Analysis Financial Health Assessment An in-depth financial analysis revealed several issues: Operational and Strategic Assessment Compliance and Regulatory Issues Restructuring Strategy The restructuring strategy focused on financial, operational, […]
