Tourism & Hospitality

MHBC processes the monthly payroll and prepares the WPS salary file for submission through your bank or approved exchange, so every wage paid is transferred and recorded on the channel the ministry can see.

The obligation is not a filing, it is a transfer. Employers registered with the Ministry of Human Resources and Emiratisation must pay wages through the Wage Protection System, an electronic transfer channel that records what each employee was paid and when, and late or missing transfers can restrict a company's ability to issue new work permits. Several free zones operate their own equivalent salary-transfer requirement, so the regime that applies depends on where your entity is licensed.

MHBC calculates gratuity, accrued leave and notice on each resignation and termination in line with the Labour Law and the employee's contract, and carries the accruals in the books as they build — not at year end.

A liability that only surfaces at the exit interview has been accruing all year. Under the UAE Labour Law, an employee who completes at least one year of continuous service is entitled to end-of-service benefits, calculated on basic wage, with the accrual rate improving after five years of service.

MHBC accounts for the 5% output tax across high-volume daily takings and files each return within 28 days of the end of the tax period, so the till, the ledger and the VAT 201 report the same month of trading.

Volume is what makes this hard, not the rate. Registration is mandatory once taxable supplies and imports exceed AED 375,000 over a twelve-month period, with voluntary registration available above AED 187,500, and some supplies are zero-rated or exempt depending on their nature — so MHBC documents the basis on which each supply is treated and keeps the records that substantiate every return.

MHBC records the day's takings, deposits and supplier costs into one set of books, reconciles them monthly and retains the supporting documents for the seven years the Corporate Tax Law requires, so every filing is drawn from the same ledger.

One ledger is what makes a month reconcilable. Revenue is recognised as the service is performed under the applicable IFRS standards, so the reported result follows the period the work falls in, and the records behind every entry are what substantiate both the VAT return and the Corporate Tax computation.

MHBC prepares the Corporate Tax computation and return from the year's accounts, applying the 0% band up to AED 375,000 and 9% above it, so the filing lands within nine months of the end of the tax period.

Audited financial statements are required where revenue exceeds AED 50 million in the tax period and for every Qualifying Free Zone Person regardless of revenue, mainland companies must maintain them under the Commercial Companies Law, and most free zones require audited accounts for licence renewal. MHBC prepares the file and coordinates a Ministry of Economy-licensed auditor, who performs the audit.