Sovereign Wealth Funds

MHBC prepares and maintains the Master File and Local File required once a UAE taxable person's revenue reaches AED 200 million in the tax period, so both can be produced within 30 days of a request.

The same requirement reaches a UAE entity inside a multinational group with consolidated revenue of AED 3.15 billion or more. That window is a production deadline, not a preparation one — documentation written contemporaneously, alongside the return it supports, turns the request into a retrieval exercise rather than a reconstruction of transactions that closed a year earlier.

MHBC identifies related-party and connected-person transactions across your UAE entities and compiles the transfer pricing disclosure form filed with the Corporate Tax return once aggregate related-party transactions exceed AED 40 million, so the disclosure matches the accounts it is drawn from.

The arm's length standard applies whether a transaction is cross-border or entirely domestic, including transactions involving free zone entities. Management fees, intra-group funding and cost recharges between entities under common control have to be priced as independent parties would price them, and the file has to show on what basis.

MHBC assesses eligibility, forms the tax group and prepares the single consolidated Corporate Tax return that the parent files for the group, settling the group's liability within nine months of the end of the tax period.

Grouping does not remove the entities beneath it. Each still keeps its own records, and the consolidated return is only as sound as the individual ledgers feeding it — which is why MHBC prepares both, rather than assembling one from accounts it did not keep.

MHBC prepares consolidated and cross-border financial statements across the group's UAE entities to one consistent reporting standard, and keeps the underlying records for at least the seven years the Corporate Tax Law requires, so the same numbers serve the board pack, the return and the audit file.

Consolidation is where inconsistency becomes visible. Where one entity recognises a cost in a different period, or measures an intercompany balance on a different basis, the difference does not disappear on consolidation — it surfaces as an adjustment someone has to explain.

MHBC prepares the accounts and the audit file for each entity that requires audited financial statements — any taxable person with revenue above AED 50 million in the tax period, every Qualifying Free Zone Person regardless of revenue, and every mainland company under the Commercial Companies Law — and coordinates a Ministry of Economy-licensed auditor, who performs the audit.

MHBC's role inside a fund structure is accounting, tax and reporting — not investment advice, not fund administration. MHBC keeps the books, prepares the file and remains the single point of contact while the auditor forms the opinion.