As per the Tax Procedures Law (Federal Decree-Law no. 7), a tax audit is a process carried out by the Federal Tax Authority (FTA) to examine the commercial records or any information or data of the taxable persons conducting a business in the UAE. The FTA carries out the tax audit on a taxable person
UAE Updates VAT Refund Guidance for Business Visitors: What’s in it for You? Foreign businesses are allowed to claim VAT refund in the UAE subject to terms and conditions laid out by the Federal Tax Authority (FTA). The FTA recently issued guidelines revising conditions for business visitors to apply for a VAT refund. As per the
Why is it Important to Rely on Auditor’s Due Diligence Report Before Buying a Business? Entrepreneurship is not only about starting a new business but you can be an entrepreneur by buying a business that is already up and running. Buying a business saves you from struggling for years to build a startup, however, it
Accounting Advise For UAE Startups. Doing more with less’ has become the mantra of startups and SMEs across the world in the post-pandemic era. Even the businesses that have not come under the reel of the pandemic are treading cautiously to avoid future risks. Controlling the expenses while maintaining, or even increasing, your quality of
Restructuring We advise and assist the integration of acquired businesses, restore profitability, change the operating model to cope with changes in the market, and if needed prepare for eventual disinvestment. We help the organization’s leadership in coordinated initiatives to improve the business’s performance. We also assist in major re-engineering the operational structures. Mergers & Acquisitions
Change Management We help organizations in re-directing the use of resources, business processes, budget allocations, or other modes of operation that significantly reshape the organizations. Change management is a major transformation of the organization and to achieve this successfully, we not only help the senior management devising the best strategic and tactical plans but also
Statutory Audit & Assurance Consultancy Our team of auditors provides more than just auditing of your financial statements. Our robust and challenging approach to audit creates value proposition to your business. Working in conjunction with our clients, we act as Personal Advisors and business partners to provide independent quality audit consultancy. Audit Related Services ERM
VAT Businesses need to start preparing in time to be able to comply with the new tax obligations including charging, collecting, and paying VAT to the Tax Authority in a timely manner. It is the right time to start creating awareness and increase knowledge throughout the organization, as well as start assessing the potential impacts
Management Reporting Effective reporting is critical for key financial decisions. Measuring business performance regularly is vital and can provide valuable information to enable you to operate more effectively and grow your business. Our reporting structure will include: • Month-end/quarter-end/year-end closing of accounting books. • Monthly/quarterly/yearly management reports. • Customized reports. • Statutory financial statements in
The UAE Cabinet recently issued the Cabinet of Ministers Resolution No.31 of 2019, which requires all in-scope UAE entities to maintain an economic substance. This will be applicable to onshore and free zone companies that engage in certain “Relevant Activities” Ever since the introduction of economic substance regulations in UAE, people have been raising queries