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

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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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Will VAT rate go up in GCC?

The GCC states will eventually increase value-added tax (VAT) rate, which is one of the lowest in the world, but it could take years before the regional government agree to hike it, tax experts said at a summit on Monday.

Surandar Jesrani, managing partner and chief executive officer (CEO) of MMJS Tax Consultancy, said the UAE and Saudi Arabia cannot unilaterally raise VAT as it is GCC-wide framework agreed among all the six member nations.

"The International Monetary Fund (IMF) is a driving factor as the whole GCC VAT is an IMF initiative. The GCC could increase VAT rate but we don't know when. But it cannot be unilateral," he said.

The IMF recently recommended that five per cent VAT levied in Saudi Arabia and the UAE as part of a GCC-wide framework should be raised, saying it is low by global standards. "The region really needs to understand when it is right time for the increase. Considering current economic situation, five per cent is fair now. However, there could be an increase," Jesrani said.

Citing examples, he said the UK had introduced VAT in 1973 at eight per cent but later hiked it and now it stands at around 20 per cent. He urged companies in the UAE and Saudi Arabia not to take tax filing lightly.

"If you don't give time to tax, there will be time when you will have to give time only to taxes. A smaller error has resulted in to fines in millions. So it is very important that we give due importance to VAT," Jesrani said during a panel discussion hosted at the two-day CFO Summit which began on Monday.

The UAE and Saudi Arabia were first two countries in the Gulf to levy five per cent VAT on a host of goods and services as part of GCC-wide framework from January 1, 2018. Other countries are following the region's two largest economies in VAT implementation. Last year, the UAE collected Dh27 billion in VAT revenues, surpassing its target of Dh12 billion for 2018 and Dh20 billion for 2019.

Ashfaque Patel, general manager, international tax at Al Futtaim Group, said there has been a tremendous increase in the level of VAT awareness, of late.

"The only way that businesses can have an unfair advantage over others is if they are non-compliant with the VAT Laws. There should be a zero tolerance policy towards non-compliance and therefore 2019 should be the year of internal controls," Patel said during the panel discussion. 

He pointed out that the moment companies overcomplicate their VAT controls, they lose sight of their own businesses processes.

"Keep it simple. A responsibility matrix should be drawn up and different people should be allocated for different functions in the VAT record to report process such as recording of transactions, tax filings, tax reviews of VAT Returns etc.," he advised the financial fraternity.

The biggest risk for VAT comes on the operational side, he said, suggesting that companies should avoid manual intervention.

Nauman Mian, chief finance officer, Bayt.com, praised the Federal Tax Authority for a very high level of CAT compliance ratio in the country.

"It is a great achievement for the government and all the professionals out there. They were able to pretty quickly speed up with the whole compliance process," Mian said.

Source:-https://www.khaleejtimes.com/will-vat-rate-go-up-in-gcc

  • Ankit Sharma
  • |
  • 18/Jun/2019
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UAE's VAT collections exceeds expectations by a wide margin in 2018

UAE residents paid Dh27 billion in value-added tax (VAT) last year, surpassing the government's target of collecting of Dh12 billion, an increase of 125 per cent. It even surpassed the goal of Dh20 billion VAT revenue collections for 2019.

The total VAT collection was also close to the UAE's nine-month of surplus, which stood at Dh28 billion during the January-September 2018 period.

Analysts expect that VAT revenues will further increase in 2019 as companies analyse their incomes, expenses and IT systems to ensure that correct VAT has been paid. This, in turn, will help the government to increase its spending on the infrastructure and public welfare programmes.

"The introduction of VAT is a key fiscal reform and we had forecast stronger VAT collection of around 1.6 per cent to 1.8 per cent of GDP in the first year of implementation. We expect to see some pickup in 2019 as spending normalises after the initial impact of VAT on consumer spending wanes, though we still see softness in household expenditure. Some of the VAT in 2018 was absorbed by corporates as they reduced prices to support domestic demand," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

"VAT collection in the UAE would have benefited from the great role of private consumption in the economy, resident and tourist related, and the broader VAT base, than, say Saudi Arabia," Malik added.

The Dh27 billion VAT collection accounted for 1.7 per cent of the UAE's 2018 nominal GDP, which is projected to reach Dh1,589 billion, per IMF estimates.

Surandar Jesrani, managing partner and CEO of MMJS Consulting, attributed robust revenues in the first year mainly to the efforts of the Federal Tax Authority on highlighting the importance of compliance.

"We act as a consultant to many businesses in the UAE and we see each day how businesses care about VAT compliance. I believe 'VAT in business' is like a 'blood in body'; once VAT is in business, it's there for all and due importance to it can't be ignored. The culture of VAT is developed and developing further," said Jesrani.

He, however, refused to forecast an expected increase in VAT revenues for 2019 but said that revenues will be on a consistent basis.

Jesrani added additional revenue generated from VAT will be utilised to provide high-quality public services including hospitals, roads, public schools, parks, waste control and police services.

"This will create a lot of trust and happiness in the country because amount collected from consumers will ultimately be utilised for the benefit of citizens and residents," Jesrani said, adding that taxation is a globally-recognised practice of expanding and increasing government revenues and the UAE is on that path that will allow the country to diversify from existing sources of income.

According to the UAE government's decision, 30 per cent (Dh8.1 billion for 2018) of VAT revenues will go to the federal government and 70 per cent (Dh18.9 billion for 2018) to local governments, per the approved mechanism for 2018 to 2020.

Source:-https://www.khaleejtimes.com/business/vat-in-uae/uaes-vat-collection-exceeds-expectations

  • Ankit Sharma
  • |
  • 07/Jun/2019
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SAIF Zone offers 100% foreign ownership, 100% tax exemption

More than 100 chairpersons and members of business councils as well as foreign investors interested in setting up businesses at the Sharjah International Airport Free Zone, SAIF Zone, recently met to discuss the zone's high-end services and incentives.

The meeting was organised by SAIF Zone and attended by representatives of multinational companies including Marian Carella, Chairman of Philippine Business Council, and Iqbal Dawood, President of Pakistan Business Council.

"The free zone is always investing in developing its infrastructure and introducing innovative services that meet the growing and ever-changing needs of investors," said Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority and Sharjah Airport International Free Zone Authority.

The free zone offers 100 per cent foreign ownership of businesses, 100 per cent repatriation of capital and profits, 100 per cent corporate or personal income tax exemptions, and 100 per cent import and export tax exemptions. This is in addition to 24-hour services, issuing of licences within a day, a hotline that guarantees the availability of immediate manpower, equipment, shipment and customs clearance, security and emergency services and accommodation for labour within the zone.

Apart from a container storage area and warehouses, which make it a conducive environment for manufacturing, assembly, packaging, import and re-export services, the zone also offers legal and courier services, customs clearance, banking and medical services as well as transportation to the city.

 

Source:-https://www.khaleejtimes.com/news/government/uae-free-zone-offers-100-foreign-ownership-100-tax-exemption

  • Ankit Sharma
  • |
  • 22/May/2019
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