Our Client is a marketing and advertising services company based in Dubai Multi Commodities Centre
. The Client engaged us to renew the company’s DMCC business license, lease and establishment card. Our Accounting and Tax Department
(ATD) was also responsible for completing the company’s accounting, audit and tax obligations with the DMCC authorities.
- The Client settled the renewal invoice sent by our group financial controller in early February 2021. We were then ready to start the renewal process.
Engagement planning and execution
- A former member of our Accounting and Tax Department (ATD) was assigned to complete our Client’s DMCC company renewal, as well as complete the company’s accounting, audit and tax obligations.
- The steps included renewing i) the trade licence ii) the DMCC flexi desk contract iii) the DMCC Establishment Card. The team also prepared the audited financial statement.
- By the end of March 2021, my former colleague had successfully submitted the annual returns to the DMCC authorities.
- All renewal obligations were completed by the end of March 2021.
- However, my line manager also advised me to send an overdue Summary of Obligations (SOO) document to our Client. This document, which we send to all Clients after successfully completing an engagement, had unfortunately not been sent by a former colleague when the DMCC company had originally been set up. The SOO was sent to the Client in October 2021.