VAT relief: UAE latest changes on late payment of VAT penalties for businesses Earlier, voluntary disclosures too carried high penalty charges and that’s scaled back
Modes of Winding - Up/ Liquidation of Companies in DMCC
The following are the four modes of winding-up of a DMCC Company:
A mode of winding-up of a DMCC Company wherein the Director(s) declares (s)that the affairs of the Company are capable of being finally wound-up within six (6) months from the commencement of the winding-up process.
A mode of winding-up of a DMCC Company wherein the Director(s) declares (s) that the affairs of the Company are capable of being finally wound-up within twelve (12) months of the commencement of the winding-up process.
Insolvent voluntary winding-up
A mode of winding-up of a DMCC Company wherein there is the participation of the creditors of the Company.
Involuntary winding-up by the competent Court
A mode of winding-up of a DMCC Company wherein the Registrar of DMCC submits a petition to the Court for the winding-up of the Company after they determines that:
– the Company has been struck-off; or
– the Company has committed a serious or repeated contravention of the DMCCA Company Regulations or any other regulation, rule, policy, or decision applicable in the DMCC Free Zone
How can we help?
If your business in DMCC/JLT Dubai and is looking to understand more about the taxes in the country and conduct an audit for your company, then you can take the assistance of Alya Auditors– Chartered Accountants. Alya is a reputed name in the field of Auditing and Accounting and is also a certified firm in almost all the free zones in the UAE including DMCC, DWC, DWTC. We will assess all the needs and requirements of the company and accordingly provide a solution.
For any more details on the services provided by Alya Auditors -Chartered Accountants, feel free to Contact Us. We will be happy to help.
VAT registration of ‘Sole Establishments’- New Amendment Please be informed that Public Clarification VATP026 replaces Public Clarification VATP021. A natural or legal person may own