Category: News
HLB HAMT Partners with Automation Anywhere
Vimal Ramachandran, Director
Vimal Ramachandran, Director
Phone:- +971 4 327 7775
Mobile:- +971 52 830 7998
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Strategic partnerships are key indicators for sustainable growth and operational efficiency. When two organizations merge their strengths—industry awareness and advanced technology—it helps build a strong workflow and transformation. By utilizing shared skills and a common vision, companies can provide the best services for their clients.
Automation Anywhere, a Robotic Process Automation provider, announced its partnership with HLB HAMT to deliver RPA for accounting, Audit Assurance, and Business Consultancy practices. This collaboration combines Automation Anywhere’s expertise in cloud-based, AI-powered RPA with HLB HAMT’s vast knowledge in business and technology consulting.
HLB HAMT will start deploying Automation Anywhere’s Intelligent Digital Transformation platform as part of its offerings, starting this month.
“We’re excited to partner with Automation Anywhere, implementing their unique RPA technology and incorporating it within our services. To fully stand out in this market, we need to be at the forefront of technological advancements. Automation Anywhere’s state-of-the-art technology will help us do this, and we’re looking forward to working together this year.”
– Vimal Rama, Director of IT, HLB HAMT
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The Federal Tax Authority in the UAE launched a significant penalty waiver initiative in 2025 offering businesses a chance to avoid or recover administrative fines including the AED 10000 penalty for late Corporate Tax registration. Announced in April 2025 this scheme is part of the government’s efforts to support companies adapting to the Corporate Tax regime introduced in 2023. It aims to simplify tax compliance by providing a grace period for businesses to meet their obligations without financial penalties. This move follows earlier efforts like VAT penalty reconsiderations and administrative updates with no fines all designed to ease the transition for companies navigating the UAEs tax landscape.
To qualify for the waiver businesses must submit their first Corporate Tax return or annual declaration within seven months from the end of their first tax period. For example if a company’s financial year ended on December 31 2024 the filing deadline is July 31 2025. Meeting this deadline allows eligible businesses to either waive unpaid penalties or claim a refund for the AED 10000 late registration fine which will be credited to their FTA tax account. This applies to companies that have already paid the fine as well as those at risk of incurring it providing a clear incentive for timely action.
The initiative targets a range of entities including taxable persons required to register for Corporate Tax under UAE law and exempt entities such as certain free zone companies or public benefit organizations that must submit an annual declaration. It also includes businesses that have yet to register or those that registered after the deadline. The key condition for the AED 10000 penalty waiver is companies must file their first Corporate Tax return or declaration within the seven month window following the last tax period. This applies whether the fine has been paid or is still pending making the scheme accessible to a wide range of businesses.
Filing within this timeframe offers more than just financial relief as it helps companies avoid the stress of last minute submissions which can lead to errors and ensures accurate records for future audits. Early filing also supports better financial planning by allowing businesses to manage their cash flow without the weight of a penalty. For those already penalized, the refund option credited directly to their FTA tax account provides a practical way to recover funds. The Federal Tax Authority encourages businesses to act promptly as this is a limited time option tied to the July 31, 2025 deadline for those with a financial year ending December 31, 2024. Companies can visit the FTAs official website for detailed guidance on how to file and ensure eligibility for the waiver or refund securing both compliance and financial benefits.
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In today’s dynamic accounting landscape, maintaining a leading position requires adaptability, excellence, and innovation. HLB International has once again demonstrated these qualities, securing 8th place in the prestigious 2025 International Accounting Bulletin (IAB) rankings. This milestone highlights the network’s consistent excellence as a leading coalition of independent advisory and accounting firms. Along with this, HLB International registered a 9% growth in the past year, bringing global revenue up to $5.96 billion.
For decades, HLB International has prioritized the delivery of top-tier services while maintaining regulatory compliance. This unwavering commitment has fueled its success, contributing to a 9% revenue growth in the past year, bringing total revenue to $5.96 billion. The achievement reflects the collective strength and dedication of HLB’s global community, which spans numerous countries and brings together top-tier talent to deliver exceptional client service.
HLB International’s ranking among the top 8 global networks highlights its ability to adapt and lead in a rapidly evolving landscape. With 9% growth this year, HLB excels amid technological shifts, regulatory changes, and rising client expectations. HLB’s network of experts provides innovative, value-driven solutions tailored to an evolving global marketplace. By proactively responding to industry shifts and client needs, HLB maintains its competitive edge. This success stems from the dedication of our teams and the trust of our clients and partners, who fuel our growth. As the service industry evolves, HLB’s resilience and forward-thinking approach position us to shape the profession’s future with collaboration and excellence.
HLB International prioritizes tailored, innovative solutions that address each client’s unique needs. By leveraging advanced technology, the network enhances service quality, accuracy, and reliability, ensuring operational excellence. As the accounting landscape evolves, HLB International integrates advanced tools and technology into its operations, enhancing service accuracy and efficiency.
IAB’s annual world surveys and rankings offer essential data and comprehensive perspectives, enabling a clear understanding of the global accounting landscape and supporting industry leaders in making informed strategic decisions. Beyond recognizing industry achievements, IAB provides market analysis and strategic guidance, shaping the global accounting landscape. It also offers accounting professionals worldwide up-to-date news and in-depth analysis on critical areas such as mergers and acquisitions, leadership transitions, and regulatory developments.
As a proud member of HLB International, HLB HAMT delivers personalized services and expert guidance, helping businesses navigate the complexities of the global marketplace with confidence.
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HLB HAMT wants to remind businesses that the grace period for updating tax registration information with the Dubai Federal Tax Authority (FTA) is coming to an end. From January 1, 2024, to March 31, 2025, organizations have had the opportunity to rectify their tax records without incurring administrative penalties. If you haven’t updated your tax information yet, now is the crucial time to act before this important window closes! Failure to update your records may result in significant penalties and complications with your tax compliance.
In this news update, we will discuss the impending deadlines, previous regulations, and the reversal of penalties for those who failed to update their information before this period.
Under the previous regulations, all taxable persons issued a tax registration number (registrants) were required to notify the Federal Tax Authority (FTA) of any events necessitating amendments to their tax records within 20 business days of occurrence. Failure to comply with this requirement was deemed a tax violation and subjected businesses to administrative penalties.
This regulation created an additional burden for many organizations, as non-compliance not only affected their operations but also led to financial repercussions.
Details of the Grace Period: To encourage registrants to update their records with the Federal Tax Authority (FTA), a grace period has been established from January 1, 2024, to March 31, 2025. During this time, businesses can rectify their tax records without incurring administrative penalties, ensuring uninterrupted operations in the UAE.
Automatic Refund of Administrative Penalties: Additionally, any administrative penalties incurred during this period will be automatically refunded to businesses, as stipulated in Cabinet Decision No. (105) of 2021. The reversed penalty amounts will be credited back to registrant tax accounts within 90 days, and no action is required from businesses to initiate this adjustment.
During the grace period, businesses must ensure that the following information in their tax records is up to date and accurate to prevent future complications:
Businesses must promptly inform the FTA about any significant changes, including:
With the deadline approaching for updating tax records, it’s crucial to act promptly. Don’t handle this alone! Seek the professional assistance of HLB HAMT to ensure your tax records are updated accurately.
As an FTA-approved tax agent, HLB HAMT offers a comprehensive suite of tax services designed to meet your needs, including:
As your FTA-approved tax agent, we are here to ensure your tax records are accurate and compliant. Reach out to us now!
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In a major update, the Federal Tax Authority has issued Cabinet Decision No. 100 of 2024, amending the Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax. Effective November 15, 2024, these changes introduce over 30 amendments impacting various UAE industries. The revised regulations aim to enhance clarity and compliance within the VAT system. Understanding these updates will be crucial for managing the changing tax landscape. Here, we summarize the key changes to be aware of.
Supply of real estate: Supply of real estate includes sale, lease and any other forms of disposal causing the transfer of ownership thereof from one person to another.
It specifies that transfer of ownership or disposal of government buildings, real estate assets and other projects of a similar nature from a Government entity to another government entity shall not be considered as a supply under UAE VAT law.
Deemed Supply: If the total output VAT due for all the Deemed Supplies for each taxable person for a 12-month period exceeds AED 2,000, then the VAT amount exceeding AED 2,000 shall be considered as output VAT.
Voluntary Registration: A person may not register for Tax voluntarily unless he proves to the Authority that; he is carrying on a business in the UAE and he has the intention to make supplies specified in paragraphs (a), (b) or (c) of Clause 1 of Article 54 of the Decree-Law
The Federal Tax Authority (FTA) holds additional authority to deregister a taxable person if it deems that such action is necessary to protect the integrity of the tax system. This power enables the FTA to ensure that individuals or entities no longer fulfilling the criteria of taxable persons are promptly removed from the tax register, preventing any misuse or non-compliance that could compromise the efficiency and fairness of the tax system.
It has been clarified that a VAT group member should be removed from the group if, aside from the situations already outlined in the same Article, the member is no longer engaged in making taxable supplies.
With reference to the Profit margin Scheme, the purchase price of the goods includes any cost and fees incurred to purchase the goods in addition to the price of the goods.
Transporting Goods from a place in the UAE to another place in the UAE if the Services are supplied by the same supplier as part of the supply of Services of transporting these Goods either from a place in the UAE to a place outside the UAE or from a place outside the UAE to a place in the UAE.
The Services supplied to the recipient of transportation services during the supply of transportation services.
A ship, boat or floating structure that is designed or adapted for use for commercial transportation of passengers and Goods and which is not designed nor adapted for recreation, pleasure or sports.
The following Services which are supplied directly in connection with the means of transport for the purposes of operating, repairing, maintaining or converting the means of transport:
Residential building does not include a hotel apartment or serviced apartment or the like.
The Authority has removed the meaning of “relevant charitable activity” from the Executive regulation.
A supply of Goods or an Import of Concerned Goods is zero-rated if it is a supply or an Import of:
Any pharmaceutical products as specified in a decision issued by the Cabinet. Any medical equipment as specified in a decision issued by the Cabinet. Any other Goods not covered by paragraphs (a) and (b) of this Clause which are supplied while supplying a Person with zero-rated Healthcare Services that are necessary for the supply of such Healthcare Services.
Article 42 (2) has been amended to include the following within the definition of financial services,
Additionally, Article 42(3) specifically exempts the services listed below from VAT,
Article 46(1)(b) has been updated to clarify that if a single composite supply does not have a principle component, the Tax treatment shall, generally, be applied based on the nature of the supply as a whole.
Taxable persons are now allowed to seek the FTA’s approval to use a fixed apportionment recovery rate, derived from the apportionment recovery rate of the previous tax year.
Additionally, new conditions have been introduced to proportionally adjust the annual adjustment threshold of AED 250,000 when the tax year is shorter than 12 months.
Article 59 – Tax Invoices
It emphasizes that tax amount must be stated in AED on the simplified invoices. It also specifies the timeline for issuing the tax invoice wherein the simplified tax invoice must be issued on the date of supply and the summary Tax Invoice should be issued and delivered to the Recipient within 14 (fourteen) days of the end of the calendar month within which the date of supply occurs.
Article 60 – Tax Credit Note
In instances where multiple Tax Credit Notes are issued for a single Tax Invoice, it is essential to ensure that the value of the supply reflected on each subsequent Tax Credit Note is adjusted according to the values established in the previous Tax Credit Notes
HLB HAMT has meticulously detailed the key updates and implications of the recent VAT amendments, providing valuable insights and remarks. Recognized as one of the best VAT consultants in Dubai, HLB HAMT is well-equipped to help clarify any doubts and guide businesses through these changes efficiently. Whether you need assistance understanding the new regulations or require strategic advice on adjusting to them, our expert team is here to support you every step of the way.
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In a powerful move towards a more sustainable future, HLB HAMT and Full Bin MENA have joined forces to revolutionize environmental, social, and governance (ESG) practices across the UAE. This partnership offers businesses, from SMEs to large corporations in all industries, access to a comprehensive suite of ESG and carbon reporting services, designed to help organizations integrate sustainability into their core operations and meet regional and global compliance standards.
HLB HAMT brings over 25 years of experience as a trusted advisor to businesses in the region. Now, through this collaboration, they are offering unparalleled access to a network of 500+ ESG experts worldwide. This team of specialists is equipped to guide companies of all sizes and sectors on their journey towards sustainable transformation, ensuring they not only meet regulatory requirements but also lead the way in corporate responsibility and environmental stewardship.
With the combined expertise of HLB HAMT and Full Bin MENA, your business can now benefit from bespoke ESG strategies that are both practical and impactful. Our services go beyond compliance, providing actionable insights and innovative solutions that drive positive change and long-term value.
Comprehensive ESG and Carbon Reporting Services Include:
Why partner with HLB HAMT and Full Bin MENA?
Take the Lead in Sustainability
With the UAE setting ambitious sustainability targets, there has never been a more crucial time for businesses to align with global ESG standards. By partnering with HLB HAMT and Full Bin MENA, you are not just meeting compliance requirements; you are positioning your organization as a leader in environmental responsibility and sustainable business practices.
Ready to Transform Your ESG Strategy?
Don’t miss the opportunity to leverage this powerful partnership. Contact HLB HAMT today and let’s build a sustainable future for your business and the UAE, together. Whether you’re an SME looking to take your first steps in ESG or a large corporation aiming to refine your sustainability strategy, we have the expertise and resources to help you succeed. Together, we can create lasting, positive change.
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HLB HAMT is excited to announce a groundbreaking collaboration with Green Deal, a sustainability startup renowned for its focus on transparency and additionality. This partnership aims to drive significant environmental stewardship and innovation, propelling both organizations toward achieving their sustainability goals and setting new industry benchmarks.
Driving Sustainability Forward
In today’s world, a company’s sustainability significantly influences its success in sales, marketing, debt financing, and investor relations. With the increasing emphasis on net zero goals, businesses must engage in both insetting and offsetting activities to reduce their carbon footprint and achieve global emission targets. This partnership aligns perfectly with HLB HAMT’s vision of promoting sustainable practices and environmental responsibility.
Green Deal, a prominent player in the Baltic States, has been at the forefront of forestry for over 15 years. The group, honoured with the prestigious Gazelle and FT1000 awards, has now introduced Green Deal as their latest premium offsetting project developer. This initiative ensures a comprehensive and transparent approach to carbon offsetting, addressing widespread concerns about the true benefits for nature and offering their partners secure and reliable offsetting through meticulous reporting.
A Path to Carbon Neutrality
The collaboration between HLB HAMT and Green Deal aims to create a significant impact on the environment. By combining HLB HAMT’s expertise in business advisory and Green Deal’s innovative sustainability practices, the partnership will drive the development and implementation of effective environmental strategies. This synergy will enable businesses to figure out their safe and transparent path toward net zero, contributing to global climate goals and outpacing their competitors.
This partnership is set to offer a multitude of benefits, including the development of customized sustainability strategies for businesses, access to creating a personalized Carbon Park and the implementation of innovative practices to reduce carbon emissions. HLB HAMT and Green Deal will collaborate to provide clients with the tools and knowledge necessary to achieve their sustainability goals.
Innovation in Environmental Stewardship
As part of this collaboration, HLB HAMT and Green Deal will focus on promoting environmental stewardship through innovation, and transparency. This includes leveraging cutting-edge technologies and practices to enhance sustainability efforts and drive significant environmental impact. The partnership will also involve educational initiatives aimed at raising awareness about the importance of sustainability and providing businesses with the resources needed to implement effective environmental strategies.
In conclusion, the collaboration between HLB HAMT and Green Deal marks a significant step towards advancing sustainable initiatives and environmental stewardship. By working together, both organizations are poised to drive innovation, promote sustainability, and contribute to a greener future. This partnership exemplifies HLB HAMT’s commitment to environmental responsibility and sustainable business practices.
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HLB HAMT announces a ground breaking partnership with Credibl ESG. This collaboration empowers HLB HAMT clients with next-generation AI-powered tools to streamline and enhance their sustainability reporting.
In today’s dynamic business landscape, Environmental, Social, and Governance (ESG) factors are no longer peripheral concerns. Companies that prioritize ESG excellence achieve a competitive edge by mitigating risk, attracting responsible investors, and fostering long-term growth. Non-listed companies are increasingly becoming aware of the strategic importance of ESG.
Recognizing the critical role of ESG, HLB HAMT remains committed to providing clients with the most advanced solutions. This partnership with Credibl signifies a significant step forward, offering a comprehensive AI platform designed to revolutionize sustainability reporting.
Credibl, a pioneering tech company led by visionary CEO Jitesh Shetty, empowers businesses to seamlessly integrate sustainability reporting into their core operations. Their intelligent platform leverages cutting-edge AI to automate data assurance, deliver real-time benchmarking, and offer comprehensive support for supply chain ESG data management.
This powerful partnership equips HLB HAMT advisors with the tools to:
“We are thrilled to partner with Credibl,” says Mr. Vijay Anand, CEO of HLB HAMT. “Helping organization achieve their ESG goals is paramount. Credibl’s platform empowers us to deliver end-to-end data management and reporting, propelling our clients towards a sustainable future.”
Manoj Kumar, Senior Partner – IT at HLB HAMT, echoes this sentiment: “This collaboration strengthens our commitment to delivering cutting-edge solutions. By leveraging AI, we empower businesses to mitigate risk, foster sustainability, and thrive in today’s interconnected world.”
Jitesh Shetty, CEO of Credibl ESG, commends HLB HAMT’s forward-thinking approach: “We are excited to partner with such a progressive firm. Together, we can empower HLB HAMT clients to achieve exceptional ESG outcomes and maximize their impact.”
This partnership positions HLB HAMT as a leader in ESG advisory services, enabling clients to navigate the sustainability landscape with confidence and achieve their long-term goals.
HLB HAMT recognizes that navigating the complexities of ESG can be a challenge. That’s why we’re here to assist you. Through our partnership with Credibl, we offer a comprehensive suite of services designed to streamline your sustainability journey.
HLB HAMT is committed to empowering your business to achieve its full ESG potential. Contact us today to learn more about how we can help you build a sustainable future.
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In the ever-evolving landscape of accounting, staying ahead demands both dedication and innovation. This year, HLB International, a leading global network of independent advisory and accounting firms, achieved a significant milestone by clinching the 8th spot in the latest rankings released by the International Accounting Bulletin (IAB). Alongside this accomplishment, they also experienced an impressive 23% growth in 2023. Let’s delve deeper into this remarkable achievement and uncover what sets HLB International apart as a powerhouse in the accounting industry.
This double win for HLB International signifies a strong upward trajectory. The prestigious IAB ranking positions them among the top accounting and advisory networks globally, solidifying their position as a major player.
HLB attributes this success to their unwavering focus on two key areas: innovation and a strong commitment to their people. By prioritizing these aspects, they’ve been able to propel the network forward and cultivate significant growth for their global community.
The IAB isn’t just about handing out awards – they are a highly respected authority within the accounting industry. They provide accounting professionals worldwide with the latest news, analysis, and insights on critical topics like mergers and acquisitions, leadership changes, and regulatory updates.
This ensures that accounting firms and networks like HLB International stay informed and prepared for the future. Significantly, the IAB publishes annual world surveys and rankings, offering valuable data and analysis that helps everyone understand the landscape of the global accounting industry.
HLB International’s remarkable feat in securing a prominent position in the IAB rankings underscores its unwavering commitment to continual enhancement and delivering unparalleled service. This esteemed recognition positions HLB International as a vanguard in the realm of accounting and advisory services. The network’s dedication to both its people and innovation is evidently yielding substantial dividends, propelling it to unprecedented heights.
As a proud member of HLB International, HLB HAMT is proud to offer you the benefits of this global network, ensuring you receive the personalized service and expertise you need to succeed in today’s international business climate.
Call our experts at +971 4 327 7775 or email dubai@hlbhamt.com to schedule a meeting.
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HLB HAMT, the prominent UAE-based auditing, consulting, and tax advisory firm, illuminated Dubai with joy and festivity through a grand celebration for its annual day along with its 25-year jubilee celebration. The vibrant event, held on January 27, 2024, at Armani Pavilion, Burj Khalifa, brought together the HLB HAMT family, clients, stakeholders, and distinguished guests to commemorate another successful year of achievements and milestones.
Notable figures, including HH Sheikh Sultan bin Khalifa Al Nahyan and HE Younis Haji Al Khoori, Undersecretary of the UAE Ministry of Finance, graced the gala celebration. The event was also attended by Mr. Marco Donzelli, CEO of HLB International, along with Mr. Hisham Ali Mohamed Al–Taher, Chairman & Partner, Mr. Vijay Anand, Founder Partner & CEO of HLB HAMT, and Mr. John Varghese, Managing Partner of HLB HAMT.
The evening was a spectacular blend of entertainment, cultural performances, and reflective speeches that highlighted the firm’s two and half decades journey. As HLB HAMT celebrated its annual day, it not only rejoiced in the achievements of the moment but also took pride in 25 years of excellence, reinforcing its commitment to uphold standards of excellence, client satisfaction, and continued growth in the dynamic landscape of financial services.
The leadership team expressed profound gratitude to the dedicated professionals, clients, and partners who have played an instrumental role in the firm’s success over the past quarter-century. The celebration not only showcased the unity and spirit of the HLB HAMT family but also set the stage for another year of continued achievements and contributions to the financial sector in the UAE.
As HLB HAMT looks back on its accomplishments and forward to future endeavours, the jubilee celebration serves as powerful testament to the firm’s resilience, growth, and unwavering commitment to making a positive and lasting impact on the financial landscape in the UAE.
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