And all that it's before their ridiculous real estate bubble has popped. Now imagine after...
Dubai - First Audit Request From DIEZ
- Thread starter MankouJoe
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Sounds really awful.
But it is somewhat funny how all the people complaining about EU being an "open air prison" moved to a dictatorship that in the span of a few months turned into a 10x much more expensive and strict REAL open air prison. Can't wait to see the first post about a guy jailed for tax evasion in Dubai.
UAE makes sense if you are a high income earner, trying to scoop of few percentages on your tax bill won't work.
it's been a busy few days but we managed to find an accountant that would provide audited statements; it was one of the accountancy firms we previously vetted. I also got through to DIEZ who offered a 60 day extension for providing the statements. The other documents must be submitted this week which is no issue.
We just emailed them back to the DIEZ inspection address they contacted us from initially. I tried calling them through both the phone number in the email address and the number on their site but was unable to get through.
I can't comment on the accountant were using yet because they haven't finished the job but I'll be more than happy to tell you who they are if you DM me.
Having lived in UAE for more than 29 years I have learnt that if something was easy, transparent and understandable, it was made difficult, unclear and easily misunderstandable. The reason for this is to levy 'fines', walah you must pay, lazem pay, they need your faloos. The UAE has changed beyond all recognition in the past 5 years or so.
I will give the 'wise and profound' leadership the benefit of the doubt and declare that IMHO they did not wish to make all this mess, but it's a case of (from those institutions that we love so dearly - YES! The REAL thieves of this world) that 'If you want to sit at the top table, you must do as we tell you to'.
I will give the 'wise and profound' leadership the benefit of the doubt and declare that IMHO they did not wish to make all this mess, but it's a case of (from those institutions that we love so dearly - YES! The REAL thieves of this world) that 'If you want to sit at the top table, you must do as we tell you to'.
Also can't seem to reach you through Dm's, can you possibly DM me. Need an accountant as I got the same message and need they are looking for audit. My deadline is the 8th May 2024.
To summarise: we didn't have the audited statements so requested an extension from DIEZ, they gave us 60 days for the audited accounts portion only - the rest of the requirements had to be submit on time, but that was more-or-less straightforward.
In the end, we reached into the bag of companies we surveyed last year for CIT conformity, there were several that went from pretty high-end (at least we thought) to budget. Our seemingly high-end accountant wasn't able to help with neither the book keeping or audit side of it, so we ended up reaching out to one of the cheaper guys, RVGUAE, and so far so good; fingers crossed, haven't heard anything from DIEZ since submission in mid-March.
What did you had to pay for the audit?
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
Not sure if my answer is relevant here but we paid a total of 2,100 AED for the FY2023 statements and audit. 50% up front and 50% at the end.
Thanks for the information, it's highly appreciated. Now my first audit journey with DIEZ begins - any other tips you can think of which may help?
these audit requests really do seem to increase massively.
What I really don't like about them is that the time to respond is very short and no one nor no where has it been communicated one must prepare them. So you get hit basically out from no where.
It would be much better if they hand this list of required documents upon incorporation and not some random time along the way.
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