Mohammed Ali and Ahmed Al Farsi established their own Auditing office for auditing accounts and financial services on 1st January 2016. Both of them share the profit and loss. Their business is called “MA Auditing Services Co”. Their professional license no. is 3291, issued by the Ministry of Commerce and Industry, Muscat, on 1st January, 2016 and its expiry date is on 1st January 2019. This license is temporary. It is for three years only but it is renewable.

They registered their business at the Ministry of Commerce in Muscat on 7th March 2016. The capital written in the commercial registration was OMR 50,000. On 19 March 2016, they registered electronically at the Secretariat General for Taxation. However, they started their operation on 1st April 2016. Therefore, the first accounting period ended on 31st December 2016.

The estimated taxable income earned during the first accounting period was OMR 275,000. He submitted the provisional return on 23 February 2017 while the final return was submitted on 1st April 2017. The auditing office is located in Ruwi, Muscat and its address is as follows:

-Post Box no.54, P.C. no. 112, Commercial registration no. : 1/224698, Muscat, Telephone no.: 24494329 Fax no. : 24494338. Mohammed Ali is the Deputy Executive Manager. He is the Principal Officer. He lives in Muscat and his ID no. is 11753978 and mobile number is 99654325.

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Mohammed Ali and Ahmed Al Farsi set up their own Inspecting office for examining accounts and mo... View the full answer