M J S Accounting And Auditing LLC

From 1 January 2026, new UAE tax rules introduce a five-year limitation period for claiming excess refundable VAT.

If your business has been carrying forward significant VAT credit balances, now is the time to review them.

Here’s what you need to know:

🔴 5-Year Limitation — Refund requests must generally be submitted within the applicable five-year period after reconciliation.

🔴 Expired Rights — Once the limitation period expires, the right to reclaim the amount may also expire.

🔴 Transitional Relief — Certain older credit balances may qualify for a transitional window where the relevant five-year period had already expired before 1 January 2026, or expires within one year from that date.

🔴 Review Now — Don't let refundable VAT remain unnoticed until the deadline approaches.

Your VAT credit could be valuable — but only if you act within the applicable time limit.

📩 Need help reviewing your VAT balances and refund position?
MJS Accounting And Auditing
Standard That Inspire Confidence

*📢 FTA Publishes 3 New Decisions Today (20 Aug 2026)*

*1️⃣ Decision No. 4 of 2026 — Rules for Maintaining Accounting Records & Commercial Books* (_Issue Date: 2 Jun 2026 | Publish Date: 20 Aug 2026 | Effective: 30 Jul 2026_)

📌 *Issue addressed:* _Statutory Record-Keeping — Retention of Accounting Records and Commercial Books in Copy Form (Electronic or Photocopies), Outsourcing and Related Responsibilities_

✅ E-copies/photocopies must be complete, identical & legible

✅ FTA can demand system access, passwords & storage access

✅ Third-party record-keeping allowed, but you stay liable

👉 *Action: Review scanning/archiving practices now*
*----------------*
3️⃣ *Decision No. 13 of 2026 — Verifying Suppliers Before Input VAT Deduction*(_Issue Date: 22 Jul 2026 | Publish Date: 20 Aug 2026 | Effective: 1 Oct 2026_)

📌 *Issue addressed:* Fraudulent/fictitious supplier chains — verifying that suppliers & supplies are genuine before Input Tax can be claimed to curb VAT fraud

✅ Must verify supplier ID, place of business & risk indicators

✅ Extra checks (bank a/c.) if supplies from one supplier > AED 375,000

✅ Exempt if supply < AED 10,000 (unless total > AED 100,000/yr)

*👉 Action: Build a supplier verification checklist before 1 Oct 2026*
*----------------*
2️⃣ *Decision No. 7 of 2026 — Disposal of Seized & Abandoned Goods* (_Issue Date: 11 Jun 2026 | Publish Date: 20 Aug 2026 | Effective: 30 Jul 2026_)

📌 *Issue addressed:* How the FTA handles, stores and legally disposes of seized/abandoned goods at risk of spoilage or safety hazards and how sale proceeds are settled

✅ FTA can auction seized/ abandoned goods under set conditions

✅ Sale proceeds go: costs → tax → penalties → owner

👉 *Action: Settle dues promptly to retain retrieval rights*

📩 *For a full breakdown reach out to M J S Accounting And Auditing*

🚨 Advance Payment? Don’t Get Your UAE eInvoicing Wrong!

Received an advance? Make sure you:

🧾 Issue the electronic tax invoice when payment is received.
💰 Account for VAT on the advance immediately.
📄 Invoice only the remaining balance upon completion.
🔗 Link the final invoice to the advance invoice.

⚠️ Key reminder: Avoid duplicate VAT and reconciliation errors.

✅ Stay compliant. Avoid penalties. Streamline your process.

🎯 Book your FREE Readiness Assessment with MJS Audit!

📞 +971 56 152 9421 | 📧 [email protected]
🌐 www.mjsaudit.com | 📍 Dubai, UAE

*~📢 Small Business Relief~* – *Big Relief for Small Businesses!*

Fun Friday comes with some good news for UAE small businesses! Small Business Relief has now been extended until 31 December 2029.

Eligible businesses with revenue of AED 3 million or less can continue to benefit from the relief, subject to the prescribed conditions.
What this means for eligible businesses:
* *No taxable income and No Tax Liablity* for the relevant tax period where the relief is elected and applicable
* Simplified Corporate Tax compliance
* Relief available for a longer period, now extending until the end of 2029

This extension gives small businesses more breathing room, greater certainty, and additional time to focus on growth while managing their Corporate Tax obligations more efficiently.

*

📊 Stress-Free Accounting Starts Here! 💼✨

Focus on growing your business while we take care of your books. From Bookkeeping to VAT, Corporate Tax, Audit, and Company Formation—we've got everything covered under one roof.

💰 Plans starting from just AED 249/month
🎁 FREE VAT & Corporate Tax Consultancy

✅ Accurate Accounting
✅ Timely Compliance
✅ Expert Financial Support
✅ Transparent Pricing

Let the numbers work for you, not against you. 🚀

📞 Get in touch today and simplify your business finances.

UAE BusinessGrowth Entrepreneur Finance AccountingServices Audit TaxConsultant BusinessSuccess SmallBusiness MJSAudit Dubai UAEBusiness Compliance FinancialFreedom StartupSupport

🚨 UAE E-Invoicing Deadlines Are Here – Is Your Business Ready?

The UAE's e-invoicing rollout is approaching fast, and timely preparation is essential to ensure compliance.

📌 For businesses with annual revenue above AED 50 million:
✅ Appoint an Accredited Service Provider (ASP) by 30 October 2026
✅ Implement e-invoicing by 1 January 2027

📅 Implementation Timeline by Category:

🔹 Businesses with revenue above AED 50 million
• ASP Appointment: 30 October 2026
• E-Invoicing Go-Live: 1 January 2027

🔹 Businesses with revenue below AED 50 million
• ASP Appointment: 31 March 2027
• E-Invoicing Go-Live: 1 July 2027

🔹 Government Entities
• ASP Appointment: 31 March 2027
• E-Invoicing Go-Live: 1 October 2027

Prepare Your Business in 3 Key Areas:

📊 Data – Verify counterparty Peppol IDs & TRNs before going live.
⚙️ Process – Redesign workflows for real-time compliance instead of periodic filing.
🏢 Governance – Assign ownership across procurement, finance, and sales—not just IT.

Don't wait until the deadline. Early planning ensures a smoother transition, minimizes compliance risks, and keeps your business future-ready.

📞 Need expert guidance? MJS Accounting & Auditing LLC is here to help you navigate every step of your e-invoicing journey.

📱 +971 56 152 9421
📧 [email protected]
🌐 www.mjsaudit.com

Your UAE Business Could Be Ready Before The Week Ends! 🇦🇪

Most people expect delays. We deliver results.

At MJS, we help entrepreneurs and businesses set up their UAE company in as little as 5 days with speed, accuracy, and complete compliance.

✅ Right Licence
✅ Right Business Structure
✅ Right Documentation
✅ Expert Guidance Every Step of the Way
✅ Dedicated Support & Quick Responses
✅ 100% Compliant with UAE Regulations
✅ On-Time Delivery Commitment

🎯 One Goal: Your Compliance

Whether you're starting a new venture or expanding into the UAE, our team ensures a fast, reliable, and hassle-free business setup experience.

📞 +971 56 152 9421
📧 [email protected]
🌐 www.mjsaudit.com

📢 UAE VAT E-Invoicing: What Every Business Needs to Know!

Many businesses think **e-invoicing is only for VAT-registered companies. That's NOT true.

✅ The UAE's e-invoicing mandate applies to every business conducting transactions in the UAE - whether you are VAT registered or not.

🔹 What do you need?
A TIN (Tax Identification Number) is essential for compliant e-invoicing.

📌 If you're Corporate Tax registered:
Your TIN already exists and is the first 10 digits of your Corporate Tax registration number.

📌 If you're not Corporate Tax registered but fall within the scope:
You must register separately with the FTA to obtain a TIN before transmitting invoices.

⚠️ **No TIN = No Compliant E-Invoice**

Don't wait for an assessment or last-minute compliance issues.

✅ Review your tax position today.
✅ Prepare for UAE e-invoicing requirements.
✅ Stay protected tomorrow.

📞 Need expert guidance on UAE VAT & E-Invoicing compliance?
Contact MJS Accounting & Auditing today.

🌐 [www.mjsaudit.com](http://www.mjsaudit.com)
📧 [[email protected]](mailto:[email protected])
📞 +971 56 1529421
📍 Dubai, United Arab Emirates

CorporateTax

🚨 Corporate Tax Alert: Don’t Wait for an Assessment!

The era of transition is over — Corporate Tax enforcement is now active, and businesses can no longer afford to overlook compliance gaps.

Here are the Top 3 Corporate Tax Exposures businesses commonly leave unresolved:

🔹 Transfer Pricing Gaps
Lack of arm’s length documentation for intercompany transactions can attract scrutiny and penalties.

🔹 Interest Deduction Risk
The 30% EBITDA limitation may significantly impact your deductible interest expenses and taxable income.

🔹 Free Zone Misclassification
Incorrect application of Free Zone tax benefits could result in income being taxed at the standard 9% Corporate Tax rate.

📌 If your **FY2023–24 Corporate Tax Return** was filed without a detailed structured review, now is the time to reassess your position before external reviews and assessments begin.

🔍 A Corporate Tax Health Check** can help identify hidden risks, compliance gaps, and potential exposure areas before they become costly issues.

Across multiple engagements, we continue to see businesses facing the same recurring tax challenges—many of which are already reflecting in actual tax assessments.

✅ Review today. Stay protected tomorrow.

📞 +971 56 152 9421
🌐 [www.mjsaudit.com](http://www.mjsaudit.com)
📧 [[email protected]](mailto:[email protected])
📍 Dubai, United Arab Emirates