Dubai Multi Commodities Centre (DMCC) is situated at the heart of Dubai. It is home to a vibrant community, innovative infrastructure, world-class services and a stunning choice of properties. It has been crowned 7 times ‘Global Free Zone of the Year’ by the Financial Times fDi magazine.
DUBAI MULTI COMMODITIES CENTRE BENEFITS :
- Exemption from Personal Income and Corporate Income Taxes
- 100% Foreign Ownership
- Full Repatriation of Profits
- Array of permitted business activities
- Employment & Visa Services
- Networking Opportunities
- Marketing Development Opportunities
- Top-notch Communications Infrastructure
- Flexi Desk Services
MANDATORY AUDIT FOR DMCC :
Auditing is mandatory for companies situated in DMCC. The companies need to submit their audited financial statements within 90 days from the end of the company’s financial year. An extension of further 3 months may be granted upon the special request of an appointed auditor. Only DMCC approved auditors can audit the companies situated in DMCC. The signed & stamped audit report along with summary sheet must be uploaded in DMCC portal.
Failure to submit the audited financial statements would result in a fine of AED 5,000 and lead to suspension of the DMCC online portal for the entity. Suspension of the DMCC portal means the entity will not be able to communicate with DMCC.
AUDITOR’S REPORTING REQUIREMENTS :
- The auditor will examine and report on the accounts prepared in accordance with local and international regulations.
- The auditor’s report must state whether the company’s accounts comply with the International Financial Reporting Standards (IFRS).
- The auditor’s report must provide details on whether the accounts present a true and fair view of the company’s affairs at the end of the financial year and accounts are free from material misstatements.
- The auditor needs to state in his report whether the company is undertaking only activities permitted under its license. The authorities rely on the auditor’s report before renewing the license.
- The auditor must ensure that the accounts of the company are in agreement with the accounting records and returns.
- The auditor has to ensure that the companies are not indulging in money laundering and financing of terrorism.
DUBAI MULTI COMMODITIES CENTRE (DMCC) APPROVED AUDITORS :
We at ‘’Hallmark International’’ are Dubai Multi Commodities Centre approved auditors providing the finest auditing services to ensure compliance of the companies laws & regulations in the U.A.E. We also provide Accounting & Bookkeeping, Business Incorporation and ERP & Accounting Software Services. We are also DIC, JAFZA, RAKEZ, DWC, DAFZA and Dubai Media City approved auditors.
We ensure prompt delivery of reports contributing to a smooth and quality experience. We assure confidentiality of documents and financial information of our clients with qualified management which will make ‘’Hallmark International’’ your go- to auditors’ time and again!
Contact us for best services below :
W: https://www. hallmarkauditors .com/