About M AL ALI AUDITING

Audit & Business Consultancy Services in UAE & India

Welcome to M AL ALI AUDITING; Experts in auditing services; we constitute a long team of auditing experts and professionals who are in the same field while serving the World from the last several successful years. Auditing is a concept of assisting and makes the companies familiar about how best they can focus on varied segments of capital management, internal auditing, accounting assistance, ISO certification services, finance and control management, stock audit and many more. We are expert in providing complete solutions to your esteem company from all possible segments that helps you in updating your company's value and support you while achieving the business goals that are consistent with your company objectives that are also compatible with national and international legal regulations as well.

Established in 2010, with remarkable Audit & Business consultancy services in UAE & India with different types of auditing including statutory audit, stock audit and internal audit. Credible, loyal, reliable and precisely are the values that have made long term strong relations with our clients and consultants.

Our Expertise: Practice Areas

Our expertise team of consultants is well versed with how to analyses the needs of one business and what make it authentic and nurture. We are perfect in designing the corporate guidelines and implement the policies on the above matters in order to achieve the great heights of success on the behalf of our clients. We too offer company incorporate services while preparing and submitting all legal documents and forums to the concern authorities. Besides these; we also assist in project reporting in varied business environment.

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Why People Choose Us

Easy to Talk

We are people’s people; easy to approach, friendly and easy to do business with.

On time Delivery

We understand the value of our customer time and thus, always dedicated to deliver the qualitative services on time.

High customer Satisfaction

The Huge Satisfaction level of our clients speaks volume about the quality of services rendered by our team. Our team’s passion in giving our client an unprecedented experience of working with us can easily be seen by our client’s growth and satisfaction.

Round the clock

Our Team of Accountants has so much passion to serve and flexible enough to support the client even at the odd hours of the day, thus, we are available round the clock to assist our client.

Qualitative Performance

The quality of our work speaks the volume of our dexterity. By Associating with our team of professionals, our client can get the account related work done by an expert and they can easily focus on other aspect of their business without worrying about the quality of the accounting work.

Our Best Services

VAT Services

At M AL ALI AUDITING, we are continuously looking for avenues to assimilate value added knowledge

Audit and Assurance

Under the audit and assurance our major role is to held with internal and management auditing along with assisting in preparing of.

Accounting Services

Welcome to the accounting cell of M Al Ali Auditing that serves you with the best of accounting services for all types of businesses.

Company Formation

As we all know, company is a group of people that decide to carry same business under an agreed manner. There are different forms.

Financial Management Consultancy

Finance is the basic need of every business that used to buzz over the corporate tasks and business activities. Whether it is small.

Business Valuation

In every stage of business it is very essential to have accurate and exact business valuation in order to plan accordingly.

Project Report and Feasibility Study

Carrying a business in this highly rigorous corporate world plan with due care in respect of investment. Growth of business.

ISO Certification

ISO - International Standardized Organization that offer the label of standard and quality to the respective companies. There are varied rules.

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Professional, Auditor & Business Advisors

Thus, if you are looking for auditing experts or professionals who can make business strategies in respect of accounting management, financial analysis, finance control, business valuation and for ISO concepts can contact us at

contact@malaliauditing.com

Contact

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33

Years of experience

70%

Repeated Business

30

Awards

25

Global Footprints

M Al Ali Auditing : Audit & Business Consultancy Services in UAE & India

Our Experts Team

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Mahesh kumar Goyal
Chartered Accountant (EX)

Mr. Mahesh Kumar being as an expert of auditing & taxation consultant. Read More

Email: auditing@consultmaaa.com
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Mr. Ahmed Yousif Ali Ramadhan
CEO Founder

Mr. Ahmed who is a founder member having 18 years of worthy experience Read More

Email: ahmed@malaliauditing.com
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Munish Goyal
C.A., C.S. & CWA

Munish Goyal, who plays a vital role as a managing partner in M Al Ali Auditing Read More

Email: mg@malaliauditing.com
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Poojan Mahesh Kumar
Chartered Accountant

Poojan Mahesh Kumar plays a key role as managing partner and a qualified Read More

Email: poojan@consultsmga.com
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News and Updates

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DIFC introduces new licences categories, reduces fees

Dubai International Financial Centre (DIFC) on Wednesday announced four new licences including short-term and dual licence categories at a reduced fees to make it more competitive at the global level and attract foreign multinationals.

The four new licences are categorised in to short-term licences, restricted licences, commercial permissions and dual licences which would allow more firms to conduct business from the centre.

Under the new short-term licencing category, retail businesses and other non-financials will be able to operate their businesses with flexible rates over shorter timeframes. This includes a priced registration fee of $100 and licence fee ranging from $300 to $5,100 depending on the duration.

The dual licence category allows Dubai's Department of Economic development (DED)-licensed non-financial and non-retail firms with an affiliate in the DIFC to operate from the centre. This licence will cover law firms, audit companies, consultancy firms, family businesses, holding companies and corporate service providers, who will benefit from an annual fee of $1,000.

The commercial permissions category licence will allow both DIFC and non-DIFC entities such as event companies, retail outlets, training providers or educational services to conduct their main business activities within the DIFC at competitive rates ranging from $100 to $2,000, depending on the nature of activity and duration.

Lastly, DIFC has introduced restricted licences category for firms which want to develop or test new and innovative products. DIFC introduced reduced registration fee of $100 and annual licence fees ranging from $1,000 to $4,000.

Khalid Al Zarouni, senior vice president and registrar of companies at DIFC Authority, said new licences and fees are a first of its kind in the region and will enable DIFC businesses to grow, whilst also encouraging a more diversified portfolio of businesses to establish in the financial centre.

"Not only do these changes strengthen our position in international markets, but they also support Dubai's vision to be the number one city for ease of doing business by 2021," he said.

In June, DIFC introduced a new cost-effective regime which allowed certain firms to establish in the financial free zone with more flexible office requirements. Under a newly introduced regime, structures such as Intermediate Special Purpose Vehicles (ISPVs) and Special Purpose Companies (SPCs) will now be classified as Prescribed Companies which would make structuring and financing faster, economical and more flexible.

Soure: www.khaleejtimes.com/business/local/difc-introduces-new-licences-categories-reduces-fees

  • Rohit Arora
  • |
  • 12/Jul/2019
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UAE acts for transparency in tax, financial reporting

The UAE Cabinet recently introduced economic substance regulations effective April 30, 2019, which bring additional annual compliance requirements for UAE entities carrying out 'relevant activities' in the country.

This follows international movement by the OECD and EU on the need for demonstrating substance by entities in low or no tax jurisdictions, and the UAE regulations are broadly similar to the regulations issued by nine other countries.

Need for these regulations
The OECD's BEPS project, endorsed by the G20 countries, was commissioned with a view to bringing more substance, coherence and transparency to the international taxation system and addressed the requirement of substantial activity in its report on BEPS Action 5.

The European Union has also been actively supporting the introduction of substance requirements in jurisdictions with low/nominal taxation regimes and has released a list of non-cooperative jurisdictions that do not comply with the same (the UAE features on the list along with 11 other countries).

As a result of these developments, nine countries - the British Virgin Islands, Mauritius, Jersey, Guernsey, the Isle of Man, Seychelles, Bahamas, Bermuda and the Cayman Islands - have already introduced economic substance requirements earlier this year. The UAE substance regulations appear to be in direct response to the above developments and aim to address findings issued by the EU, and possible exclusion from the list of non-cooperative jurisdictions for tax purposes.

UAE businesses covered
The regulations apply to a licensee that carries out a 'relevant activity', established in the UAE mainland or the various free zones as a representative office, branch or a commercial enterprise. The regulations would not apply to government-owned enterprises (directly or indirectly).

Businesses covered under the regulations include banking, insurance, investment fund management, shipping, distribution and services, intellectual property, lease finance, headquarters and holding firms. The regulations have defined what activities constitute relevant activities under these businesses.

Requirements
All entities in the UAE need to notify the regulatory authority (the authority that has issued the business licence to the entity) of its financial year-end and whether or not it is carrying on a relevant activity. A UAE entity undertaking a relevant activity would need to submit a report to the regulatory authority within 12 months after its financial year end.

The report would include details regarding the relevant activity conducted by the entity including information regarding the income from such activity, operating expenses and assets employed, location of premises, details of employees and a declaration as to whether or not the licensee satisfies the economic substance test. Additional information is required to be submitted for high-risk intellectual property businesses.

Consequences of failure to comply
Where an entity fails to meet the economic substance test, an amount of administrative penalty between Dh10,000 and Dh50,000 shall be imposed (between Dh50,000 and Dh300,000 if the test is failed the subsequent year as well). Further, a separate penalty between Dh10,000 and Dh50,000 could be levied for failure to provide any information or providing inaccurate information.

The regulatory authority may also impose suspension, revocation or non-renewal of the licence of a licensee in case of repeated non-compliance. Entities that do not meet the economic substance requirements will also be reported to the Ministry of Finance for onward exchange of information with tax authorities of ultimate parent entity or beneficial owner.

Subjectivity around these requirements
Though the regulations are effective April 30, 2019, additional guidance and regulations are expected in due course. This should clarify concerns regarding practical applicability of the regulations and meaning of terms like "adequate" used extensively in the regulations as adequacy would need to be determined on a case-to-case basis, and it is unlikely to be based on any standard criteria.

Also, as free zone entities are also covered within the scope of these regulations, it will be interesting to note how these requirements will be practically looked upon at, for instance, meeting requirements of "having adequate people or premises" for licenced offshore companies, meeting test for dormant entities not "carrying out" any activities during the year, etc.

Next steps
While the regulations should not impact UAE headquartered businesses and others with genuine operations in the UAE, there will be reporting and compliance requirements to manage. All UAE entities should analyse the group structure to identify entities in the UAE and other jurisdictions (like the British Virgin Islands and Cayman Islands), which require compliance with their local economic substance regulations. Once it is determined that a UAE/other overseas entity undertakes any relevant activities, businesses would need to assess whether economic substance requirements would be met. Depending on findings of such exercise, remedial options would need to be considered, if necessary.

While the regulations are a welcome move by the UAE that will strengthen the fiscal, corporate governance and reputation of the country, one would need to wait and see how the same is practically applied by authorities.

 

Source: www.khaleejtimes.com/business/local/uae-acts-for-transparency-in-tax-financial-reporting

  • Rohit Arora
  • |
  • 11/Jul/2019
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Now, pay in Indian rupee at Dubai Duty Free shops

The change, however, will be returned in UAE dirhams.

Starting July 1, all Dubai Duty - Free stores have begun accepting the Indian rupee for financial transactions. The Indian Rupee is the 16th foreign currency to be accepted at Dubai Duty Free.

Confirming the news, Duty Free officials released a statement to Khaleej Times stating Dubai Duty Free started accepting Indian rupee on July 1 and the rupee will be accepted in all point of sales (POS) of Dubai Duty Free in Terminal 3, Terminal 1, Terminal 2 of Dubai International Airport and in Al Maktoum International Airport.
 
The statement added, "At present the following denominations are being accepted: 100s, 200s, 500s (only the new one as earlier one is out of circulation) and 2000's."

The officials also said when paying Indian rupee the change will be in UAE dirham. "only US Dollar, Euro and Sterling Pound are being exchanged in the same currency," the statement added. 
 
In 2018, Dubai Duty Free recorded an annual sales of US$2.015 billion with Indian passengers account for 18 per cent of its business. Dubai Duty Free currently employs over 6,000 staff hailing from 47 different countries, with Indians as the second biggest groups of employees.

 

Source: www.khaleejtimes.com/nation/dubai/indian-rupee-to-be-accepted-at-dubai-duty-free-shops

  • Rohit Arora
  • |
  • 05/Jul/2019
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