Mashreq Neo is the default account for UAE tech and media free-zone freelancers. Card spend lives inside the statement, exchange rates print inline, and Kashfbank pulls it all into one clean spreadsheet.
Convert your Mashreq statementMashreq has been a UAE private bank since 1967 and its digital arm Mashreq Neo is one of the most common accounts for freelancers in DMCC, Dubai Media City, Dubai Internet City, and Abu Dhabi's twofour54. The bank accepts UAE freelance permit holders without a corporate trade licence, and Neo onboarding runs end-to-end inside the app. For a freelancer juggling Payoneer, Wise, SWIFT wires, and local POS spend, this account becomes the single source of truth for taxable revenue.
Mashreq integrates credit card spend into the account statement rather than issuing a separate card PDF. That cuts the number of documents you upload, but it also means a single PDF mixes salary or client receipts, card purchases, ATM withdrawals, and direct debits. A structured export is what makes that file usable for FTA filings or accountant handover.
Mashreq issues a digitally generated PDF in English with DD/MM/YYYY or DD-MMM-YYYY dates. POS rows carry the merchant name and an inline exchange rate when the purchase is in a foreign currency. SALARY rows include the MoHRE employer ID for WPS deposits. Mashreq Neo statements run the same schema with a slightly narrower description column — merchant names can truncate, so the original PDF stays useful as a reference.
Client payments through SWIFT show the originator BIC, the sending bank, and the converted AED amount. Payoneer and Wise pull-ins appear as REMITTANCE IN entries. Kashfbank tags these as income so they sum cleanly against your invoice ledger. Integrated card spend without the POS- prefix in older statement versions is read by description matching.
Pull every inbound client transfer with its original currency and AED equivalent, separate POS spend that is business expense from personal, capture any cashback rebates, and tag every direct debit against a real subscription category. UAE corporate tax of 9% applies above AED 375,000 net profit, so the numbers must be reconciled — not estimated.
Modern digitally generated PDF. English dominant. Dates DD/MM/YYYY or DD-MMM-YYYY. Exchange rate shown inline for foreign currency transactions. IBAN, BIC, and branch code in header. Card spend integrated within account statement — no separate card statement. Mashreq Neo accounts may have a slightly different header layout from classic Mashreq accounts.
| Label | Meaning |
|---|---|
| POS- | Card purchase at point-of-sale |
| ATM CASH | ATM cash withdrawal |
| SALARY | WPS salary credit |
| REMITTANCE OUT | International money transfer sent |
| EXCHANGE RATE | FX rate applied to foreign transaction |
UAE freelance permit holders are subject to 9% corporate tax on profits above AED 375,000 (since June 2023); statements must distinguish service income from personal transfers to calculate taxable profit.
Pull the Mashreq or Neo statement for your tax period
Open Mashreq Mobile or Mashreq Neo and download the PDF covering your full freelance permit year or VAT quarter. Keep the original — the FTA requires seven-year retention. Upload the PDF to Kashfbank.
Confirm currency and statement type
Check AED is the base currency. Foreign-currency purchases will show an inline exchange rate; Kashfbank preserves both the AED amount and the FX line. Neo and classic Mashreq use the same row format but slightly different headers.
Filter to business income and expense
In the export, filter by category — Income, Subscription, POS, ATM, Cashback. Business income from clients goes to the FTA revenue total. Personal spend is excluded. Cashback is rebate, not revenue.
Export to Zoho Books or your accountant's tool
Download the CSV. The Date, Description, Debit, Credit, Balance, Category, Currency layout opens in Zoho Books UAE VAT edition, Xero, or QuickBooks without remapping.
Common challenges
Does Kashfbank read Mashreq Neo statements the same as classic Mashreq?
Yes. The two share the underlying schema. Neo statements have a narrower description column so merchant names can truncate, but the date, amount, balance, and channel code are preserved. The integrated card spend appears in both.
How does the export handle Mashreq's inline exchange rate row?
Older Mashreq statements print the exchange rate between the debit and credit columns. That row used to confuse generic parsers into reading it as an amount. Kashfbank recognises the FX notation and keeps it as a description attribute on the transaction, not a separate row.
I receive payment through Payoneer and Wise. Does Mashreq show the original currency?
Yes. Both Payoneer and Wise inbound transfers print the originator name, the source currency, and the converted AED amount. Kashfbank tags these as income and keeps the source currency in the Currency column for invoice matching.
I crossed AED 375,000 net profit this year. What do I need from the statement?
You need the full year's revenue reconciled to deposits, plus business expenses. The Kashfbank export gives both. Your accountant maps the categories to the FTA's required CT return format. Keep the PDF for the FTA's seven-year retention window.
Tax Preparation
Convert PDF bank statements to clean spreadsheets for Zakat, VAT, corporate tax, and self-assessment filings across GCC and international markets.
Loan Applications
Prepare clean, lender-ready bank statement exports that prove stable income and responsible financial behavior for personal and business loan applications.
Mortgage Applications
Prepare 6–12 months of verified, structured bank statement data for mortgage underwriting — covering down payment seasoning, income stability, and GCC real estate requirements.
Regulator: Central Bank of the UAE (CBUAE)
Fiscal year: Jan 1 – Dec 31 (Gregorian)
Full country guide →Statement language: English