Accounting involves analyzing financial data to assess a business's financial health. Bookkeeping is the process of recording day-to-day transactions accurately. Together, they provide insights for decision-making, ensure regulatory compliance, and support business growth by maintaining transparent and reliable financial records.
Audit and assurance services provide independent evaluations of financial information, systems, and processes. They enhance transparency, reliability, and compliance with regulations. Auditors offer valuable insights, identify risks, and provide recommendations to improve internal controls and overall business performance, instilling confidence in stakeholders.
Corporate tax is a direct tax levied on a company's profits by the government. Understanding corporate tax laws is essential for businesses to comply with regulations, optimize tax planning, and ensure financial sustainability.
Excise tax is a type of indirect tax imposed on specific goods, such as alcohol, tobacco, and carbonated drinks at the point of production, or import. It is designed to discourage consumption of harmful or non-essential products while generating revenue for governments. Understanding excise tax is vital for businesses and consumers.
The ICV (In-Country Value) certificate in the UAE evaluates a company's contribution to the local economy. It measures factors like local procurement, Emirati workforce employment, and investment in the country. Obtaining an ICV certificate demonstrates a commitment to supporting economic growth and diversification initiatives within the UAE.
Company formation in UAE offers two main options: mainland license and free zone. Mainland licenses allow businesses to operate across the UAE market, while free zone setup provides tax benefits and foreign ownership. Both require registration, legal documentation, and compliance with specific regulations tailored to each option's benefits and limitations.
In the UAE, company liquidation can follow specific procedures depending on the jurisdiction. This typically involves notifying relevant authorities, settling outstanding liabilities, cancelling licenses, and distributing remaining assets to shareholders. Compliance with local regulations and requirements is essential throughout the liquidation process to avoid legal issues and ensure a smooth closure.
Our additional services include assistance with Economic Substance Regulations (ESR) compliance, ensuring your business aligns with UAE regulations regarding economic activities. We also provide support for obtaining Tax Residency Certificates (TRC), Let us streamline your regulatory compliance and tax planning processes efficiently.
Over the span of our finance careers, we've mostly heard about Internal Audit and Statutory Audit, but there's a relatively new way to a... Read More