Corporate Tax
- - Customized Tax Impact Assessment
- - Transition Support
- - Post-Implementation Support
- - Tax Group v/s Individual Entity Registration
Given the increasing regulatory requirements on Anti Money Laundering (AML) Regulations, MBG understand the importance of tackling gaps in existing frameworks and designing an AML Compliance program that takes into account the various organizational risks and offer forward-thinking solutions.
Anti-Money Laundering (AML) refers to a set of laws, regulations, and practices aimed at preventing and detecting the illegal process of disguising the origins of funds obtained through criminal activities as legitimate income. Money laundering involves making illegally obtained funds appear legal by routing them through a complex series of transactions or activities, ultimately making it difficult to trace the original source of the funds.
In accordance with the provisions outlined in:
failure to comply with the instructions and regulations established by the regulatory authorities, or failure to respond to requests for information pertaining to the verification of compliance of establishments subject to executive oversight, may result in violations.
Such violations could lead to the imposition of an administrative fine amounting to not less than fifty thousand dirhams (50,000) and up to five million dirhams (5,000,000), or may warrant prohibition from operating within the related sector, or the suspension, restriction, or cancellation of business activities or licenses.
At MBG Corporate Services, we give you a holistic 360 degree approach to the implications of the upcoming Corporate tax regime. We offer solutions related to legal, VAT, audit, IFRS, and other UAE-related laws and regulations.
