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Monthly Accounting Checklist Every UAE Business Must Follow (2026)
Introduction In 2026, UAE businesses operate under strict accounting, VAT, and Corporate Tax compliance rules. Missing even one monthly accounting task can trigger FTA penalties, audits, or license renewal issues. A structured monthly accounting checklist is no longer optional — it is a compliance necessity for Mainland, Free Zone, and SME businesses. At MHK Accounting […]
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VAT Deregistration in UAE: When, Why & How to Apply (2026 Guide)
Introduction VAT deregistration in the UAE is not just an optional process — it is a mandatory legal requirement when a business no longer meets the VAT registration criteria set by the Federal Tax Authority (FTA). Many UAE businesses mistakenly ignore VAT deregistration, assuming inactivity or low turnover automatically removes VAT obligations. In reality, failure […]
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Accounting Mistakes That Cause FTA Penalties — What New Businesses Must Avoid (UAE 2026)
Introduction In the UAE, even small accounting errors can trigger serious penalties from the Federal Tax Authority (FTA). New startups and SMEs often struggle with VAT filing, record-keeping, expense categorization, and corporate tax compliance — leading to fines ranging from AED 1,000 to AED 50,000. At MHK Accounting & Taxation Services LLC, we help UAE […]
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FTA Audit Preparation: Checklists & Avoiding Penalties in UAE
Introduction The Federal Tax Authority (FTA) has intensified tax audits across the UAE in 2026, especially after the implementation of Corporate Tax. Whether you’re an SME, freelancer, or Freezone company, staying audit-ready is now essential. An FTA audit reviews your VAT records, Corporate Tax filings, accounting books, and compliance with UAE tax laws. At MHK […]
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2026 Corporate Tax & VAT Compliance Guide for UAE SMEs
Introduction For UAE SMEs, 2026 brings tighter Corporate Tax and VAT compliance requirements. With increasing FTA digital monitoring, real-time reporting, and stricter documentation checks, small and medium businesses must ensure 100% accuracy to avoid penalties. This guide simplifies everything UAE SMEs need to stay compliant with Corporate Tax (9%) and VAT (5%) — including documentation, […]
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Case Study 1: IMAC Gulf for Industrial Group
Industry: Heavy Industries & ManufacturingSubtitle: Financial Clarity in Complex Operations Challenge:IMAC Gulf operates multiple divisions in heavy industries including equipment trading, manufacturing, and project services. The biggest struggle was managing multi-division accounts, where expenses and revenues overlapped. Their VAT compliance was inconsistent, and financial reports were delayed, making it tough for management to make quick […]
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