#ESR consultants UAE

[amaaudit]

ESR Deadline Approaching! ⏰ Avoid penalties & navigate regulations with AMA Audit Tax Advisory's expert support. Don't let complex Economic Substance Regulations disrupt your business operations. Our team provides tailored solutions and expert support to navigate the requirements and ensure your success in the UAE market.

#ESR Consultants UAE #ESR consultancy in Dubai #ESR Consultancy in Abu Dhbi #ESR Consulting Services #ESR Consultancy

[akshaya890]

Corporate Tax UAE | Tax Consultants UAE

Corporate Tax UAE - Looking for comprehensive tax services in UAE? Our expert team provides planning, compliance and structuring solutions.

#corporate tax consultant #esr in uae #tax advisors dubai #tax agent services dubai #tax residency certificate uae #tax consultants uae #tax consultants

[vatfirmsindubai]

Auditing – Trends & Challenges

With a global pandemic upon us, organizations were faced with unprecedented uncertainty, and with a need to inculcate a rapid pace of change. While organizations were seeing this change – auditors were learning and implementing the changes to ensure efficient growth of the organization.

Let’s go through some of the trends and challenges that the audit firms in UAE might witness in 2022:

Audit Strategies will have to be changed, to ensure they seem relevant and useful. In the last 2 years, it was all about building resilience within the organizations. In 2022, it will be all about ensuring visible impact in the audit services – by taking on a dynamic approach to auditing – the focus will be on bringing short and collaborative resolutions. Therefore, internal audit firms in Dubai will look at building audit strategies that show the impact of audit and the value it can provide to any organization.

The focus in 2022 will be more on ensuring compliance with regulations and procedures. While auditors will investigate the past and reflect on the present – it will be more about out-of-the-box thinking, with emphasis on the future, and implementing the changes and approaches in business.

As newer risks emerge, 2022 will be all about efficiently managing the rapid and dramatic changes in the business lifecycle. Internal Audit Firms in Dubai will have to plan and account for unaccounted risks, and the way to manage these risks, that are going to arrive through the year.

Risk Management Frameworks to outline the risks, scope, criteria will have to be managed. Characterizing risk standards & models going ahead will require a more engaged and cooperative methodology. In the previous year, associations have connected with general medical care trained professionals and doctors to obviously comprehend wellbeing chances. The pandemic uncovered a few regions wherein associations need better cooperation, for example, understanding supply chains, strategic relations, and, as a rule, the effect of efficient failures of various enterprises, just as accessing various specialists in a wide scope of industries.

Are you ready to embrace the change? To know more about how audit firms in the UAE can assist you, reach out to TRC Pamco, one of the leading and experienced audit and consulting firms in the UAE.

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[arcauditinguae]

Relevant Activities Under Economic Substance Regulations(ESR) in UAE

1. Intellectual property Business (“IP") 2. Shipping Business 3. Headquarters Business 4. Investment Fund Management Business 5. Banking Business 6. Distribution and Service Centre Business 7. Holding Company Business 8. Lease - Finance Business 9. Insurance Business

Book Online

#auditors in uae #auditfirmindubai #esrindubai #esr #esr economicsubstanceregulations economicsubstances esr esrconsultantsindubai esrconsultantsinuae #dubai #uae #arcassociates #vat consultants in dubai

[offlinetaxconsultant]

Why the Current Moment Presents Ideal Conditions for ERP?

Before delving into the reasons why now is the opportune moment for ERP implementation, let's first examine the common hesitations that companies often have, leading to delays or deferrals in implementing ERP systems. Below, we explain the details given by ESR consulting in Dubai.

Challenges Hindering ERP Implementation:

Disruption to Established Workflow: Implementing ERP necessitates deviations from established workflow patterns within a company. It requires making tough decisions tailored to individual customer scenarios, necessitating initiative and accountability from leadership.

Lack of Clear ROI: Many companies struggle to grasp the tangible benefits of ERP implementation fully. Without a clear understanding of the advantages, they question the necessity of undergoing such a transformation.

Cost Concerns: The financial aspect plays a significant role in the decision-making process, with companies often hesitant due to perceived high costs associated with ERP implementation.

Comfort with Current Solutions: Existing systems may offer a sense of familiarity and comfort to the current team, while top management may feel content with the reports they receive.

Is Now the Right Time for ERP Implementation?

Amidst every crisis lies an opportunity for growth and improvement. Therefore, leveraging the current circumstances as a catalyst for enhancing supply chains, optimizing business workflows & more, presents a compelling case for initiating an ERP implementation project by ERP Implementation consultancy services in Dubai.

Key Reasons to Act Now:

Seizing Opportunity Amidst Crisis: Utilizing the current downtime as an opportunity to engage and motivate the team towards undertaking an ERP project can yield significant benefits. Previously, the hectic pace may have hindered such endeavors.

Preparation for Economic Recovery: As the economy gears up for resurgence, organizations must be primed to capitalize on emerging opportunities. A well-configured ERP system provides the necessary visibility and actionable insights to navigate the evolving landscape effectively.

Enhanced Flexibility for Future Growth: Smaller, inflexible systems often struggle to adapt to changing business needs. In contrast, a robust ERP solution offers the flexibility to integrate new processes, modalities & technologies seamlessly, ensuring readiness for future challenges and opportunities.

By recognizing the unique advantages of this moment and embracing the transformative potential of ERP implementation, companies can position themselves for sustained success in an ever-evolving business environment. Moreover, for comprehensive financial management needs including accounting and bookkeeping services in Dubai, UAE, ESR Consulting offers tailored solutions to streamline operations and enhance financial efficiency.

#ESR consulting in Dubai #ERP Implementation consultancy services in Dubai #accounting and bookkeeping services in Dubai

[kashif-14]

How can you protect your finances in 2023 from economic slowdowns?​

One of the scariest worries that may unnerve businesspeople around the world is the prospect of an economic slowdown. As one of the top accounting firms in Dubai, we can attest that the majority of small business owners don’t have a reliable plan in place to deal with potential downturns in the economy. You need to plan ahead for your finances in case of inflation, rising interest rates, or major world events that could affect your supply chain (remember the pandemic). So let’s look at what you can do to get ready for an economic slowdown:

You must pay close attention to the needs of your clients and partners during uncertain times. It’s not as difficult as you may think. Calling your most significant clients over the phone will help you do this. These discussions will assist you in understanding how the market for your products or services is evolving and the necessary steps to be taken. You must also discover the solutions to the following important questions:

Do your customers reduce or change their orders?

Is it necessary to investigate new markets?

Exists a danger to your suppliers that could have an impact on your purchases?

Examine your production schedule and concentrate on efficiency

You may decide to review your production plan as a result of the discussions you have with your clients and suppliers. It will assist you in ensuring that the products or services you create will find a market. Additionally, you should be careful to maximize output while reducing unnecessary costs. Additionally, you should compare the success of your business to internal benchmarks or goals, such as industry standards. Business owners can increase their output by cutting down on delays, enhancing quality, and eliminating other wasteful practices. You can consult accounting firms in Dubai to evaluate the performance of your company using important financial parameters.

Streamline your financial operations

Entrepreneurs need to have a firm understanding of how their company is performing at any one time throughout economic downturns. This understanding shouldn’t be arrived at based on speculation or an intuitive sensation. In order to track the financial success of your company and identify any issues that may need to be resolved, it is critical to have genuine data and a method that explains how the results change over time. Utilize accounting services in Dubai to get reliable financial information.

Budget and make financial estimates

The data you gathered can be used to make a forecast in the following step. One essential component of sound financial management techniques is the creation of an exhaustive annual budget. Only if the budget includes an income statement, a cash flow statement, and a balance sheet will it be considered comprehensive. Most importantly, there must be a connection between all three statements.

As your projections represent predictions of future income, cash flows, and financial status, this is significant for the company. These predictions can serve as an early warning system that enables you to get ready for fluctuations in cash flow, probable decreases in investments, or increases in operational expenses.

Dubai Accounting firms can assist you You just went over some of the crucial steps you need to take as soon as you sense the economy is shifting. To carry out any of these tasks effectively, you could need the help of accounting firms in Dubai like HMA AUDITING OF ACCOUNTS. In the UAE, HMA has a team of highly qualified chartered accountants who can help business owners with their accounting needs, including keeping financial records, planning for UAE corporate tax, registering for VAT, completing VAT returns, ESR, AML, and UBO, among other things. Entrepreneurs can successfully accomplish their business objectives while feeling at ease by utilizing JCA’s reliable accounting services in Dubai.for more information visit https://hmaa.ae/how-can-you-protect-your-finances-in-2023-from-economic-slowdowns/

Website: www.hmaa.ae || Email: [email protected] || Phone/WhatsApp: [phone]

#protect finance #finance #ecenomic slow downs #protect finance from economic slow down

[yourofficepartners]

Top 6 Questions to Ask Before Hiring an Accounting Firm in Dubai

Are you thinking of expanding your small business greater? Consider tapping into external expertise to effectively manage your finances by outsourcing to accounting firms in UAE – a smart move! The experts from the best accounting company  in UAE not only excel with numbers but also know how to turn them into actionable insights.

Before diving in, it's wise to plan the questions you'll ask these accounting service providers. Their answers will equip you with the information necessary for making informed business decisions. Here are some friendly inquiries to consider when aiming to grow your business:

How can I better manage my cash flow?

Cash flow is the lifeblood of small businesses, covering expenses, staff payments, reinvestment, debt management, returns on investment, and unforeseen events. Seek recommendations from accounting firms in Dubai on key performance indicators and receivables collection practices. They can also assist in creating a cash flow projection to foresee and plan for any temporary cash crunch.

What should be my top business priority?

Juggling various priorities as a small business owner? Accountants can offer unbiased opinions on which areas deserve more attention. After consulting with them, you'll gain clarity on tasks that may not be as urgent as you thought, helping you prioritize effectively.

What type of help do I need?

Feeling overwhelmed? Accounting services in Dubai can assess your operations and recommend where you might need additional support. Remember, even the most motivated business owners can't do everything alone. Delegating tasks can free up your time to focus on your major goals.

Could I benefit from a different business structure?

As your business in Dubai grows, your initial legal structure may need reconsideration. Consult accounting firms for valuable advice on whether a new structure aligns better with your long-term goals, especially with the upcoming UAE corporate tax changes.

Are there upcoming tax laws that might impact me?

Stay ahead of the curve by asking your accountant about recent UAE tax law changes. Being informed about new laws is crucial for compliance, and accounting firms in Dubai can keep you updated on the latest regulations affecting your business.

What's the best strategy for increasing profitability?

Beyond just increasing revenue, focus on profitability. Accounting companies in Dubai can provide recommendations on boosting profitability through revenue growth, expense reduction, or other robust strategies tailored to your business. It's not just about making money – it's about making smart money.

How can Your Office Partners Help You?

Well, it starts with asking the right questions – the key to unlocking new opportunities that can elevate your business to new heights. Our carefully crafted questions serve as your gateway to making the most of the stellar services offered by accounting firms in UAE. If you're on the lookout for the cream of the crop among accounting companies in Dubai, look no further than Your Office Partners. We take pride in being a top-tier provider of accounting services in Dubai, boasting a team of highly qualified accountants and auditors.

At YOP, we're here to collaborate with you, making your professional life a breeze by ensuring your books are not just reliable but also up-to-date. Opting for our services means you can bid farewell to the tedious task of digging through bank statements and receipts or coding transactions. We've got it all covered. Plus, we go the extra mile to ensure your compliance with regulations related to VAT, Economic Substance Regulations (ESR), UAE corporate tax, and Ultimate Beneficial Ownership (UBO). If you're aiming to maintain and grow your business hassle-free, consider outsourcing your accounting requirements to YOP – we've got your back!

#business setup in dubai #accounting company in Chennai #accounting firms in Dubai #accounting company in UAE #accountig services in Dubai

[igreatdreamblog]

#exempted licensees

[kgrnaudit]

Penalties for Failure to Comply with ESR in UAE

Administrative fines were established for a number of Economic Substance Regulations violations by Cabinet Resolution No. 57 of 2020. (ESR). The revised resolution has increased the number of fines for violations committed by both Licensees and Exempted Licensees. Giving incorrect information, failing to submit an ESR report and notification, and failing the UAE's economic substance test are the three main violations.

The severity of the fine serves as a reminder to businesses to consult qualified ESR experts in the UAE before submitting notices and ESR Reports. Businesses should be cautioned by the following list of administrative fines under the Economic Substance Regulations:

Criminal penalties and fines for not informing A Licensee or Exempted Licensee who fails to file an Economic substance regulations notification in the UAE is subject to pay an administrative penalty of AED 20,000, per Article 13 of Cabinet Resolution No. 57 of 2020 addressing economic substance requirements. If the National Assessing Authority concludes that the entity has committed the violation, it will inform the entity of the penalty.

Call [phone] or send an email to [email protected] with any questions.

Penalties will apply if an economic substance report is not submitted. In accordance with Article 14 of Cabinet Resolution No. 57 of 2020, entities that fail to submit the Economic Substance Regulations Report and any relevant information or documentation required to be submitted in accordance with the provisions of the Cabinet Resolution No. 57 of 2020 concerning Economic Substance Requirements will be subject to an administrative fine of AED 50,000.

According to Article 14 of Cabinet Resolution No. 57 of 2020, a corporation will be subject to an administrative fine of AED 400,000 if it violates the same law in the fiscal year that immediately follows the fiscal year in which the violation was initially committed. To avoid further financial loss in the form of penalties, it is preferable to seek the advice of the top ESR specialists in Dubai.

Penalties May Apply If You Fail the Economic Substance Test To engage in a Relevant Activity, companies based in the UAE must pass the Economic Substance Test. But for the first year, failing the Economic Substance Test for each financial year will result in a punishment of AED 50,000, as stated in Article 14 of Cabinet Resolution No. 57 of 2020. A repeat of the same violation in the subsequent Financial Year, however, will result in an administrative punishment of AED 400,000, in accordance with Article 14 of Cabinet Resolution No. 57 of 2020.

Call [phone] or send an email to [email protected] with any questions.

Financial penalty for providing misleading information The Regulatory Authority should receive correct information and pertinent documentation from both Licensees and Exempted Licensees. Organizations that submit fraudulent information and fail to acknowledge the inaccuracy despite knowing about it will be penalised AED 50,000, according to Article 15 of Cabinet Resolution No. 57 of 2020. The National Assessing Authority will inform the entities of the fine as soon as it becomes aware of the violation.

Contents of the penalty notification After the National Assessing Authority determines that a Licensee or Exempted Licensee has violated an ESR rule, a notice will be issued to the violators. The Authority will give violators the following information:

The Licensee or the Exempted Licensee breached the law in the applicable financial year, according to the National Assessing Authority. the grounds for imposing the ESR administrative penalty The financial penalty assessed administratively against the company The administrative penalty's start date ( not less than 30 business days after the issue of notice) The ability to contest an administrative penalty According to Article 17 of the Cabinet Resolution 57 of 2020, a Licensee or an Exempted Licensee may challenge the administrative penalty imposed by the National Assessing Authority. Call [phone] or send an email to [email protected] with any questions.

The following justifications are permissible for the appeal:

The company has not broken the law. The fine imposed is excessive given the offence The Authority will be penalised more severely than what is allowed by the Resolution. The National Assessing Authority will release a ruling outlining the procedure for submitting an appeal against Economic Substance Regulations fines in the UAE. The resolution will specify the steps for filing an appeal, as well as further measures for examining a penalty and deciding whether to file an appeal.

What Can KGRN Do to Help You Avoid ESR Sanctions? Businesses that come under the licensee and exempt licensee categories should exercise caution because to the harsh administrative penalties connected to the UAE's Economic Substance Regulation. Failure to submit an ESR notification or report, failing the Economic Substance Test, and submitting false information are the principal violations that result in fines under ESR in the UAE.

Given the severity of the penalty, businesses should try to avoid penalties in the first place rather than submitting an appeal after they have been imposed. Consultation with leading ESR authorities in the UAE, like as KGRN Chartered Accountants, is your best bet for avoiding fines.

The highly qualified auditors and business setup specialists that KGRN hires are familiar with the ESR laws. In order to comply with the Economic Substance Regulation UAE and avoid fines and other sanctions, KGRN assists enterprises. In order to help enterprises, KGRN evaluates whether they can pass the UAE Economic Substance Test, provides recommendations if they can't, and helps them submit their annual ESR Notification and ESR Reports appropriately.

#Learn More: #Economic Substance Regulation UAE

[neethudxb]

[farahatcouae]

Economic Substance Regulations (ESR) in UAE

Economic Substance Regulations (ESR) in UAE

Legal guidance on all aspects related to the economic substance regime in UAE as it's continually evolving

Contact Us:

WhatsApp Only: [phone] WhatsApp & Phone: [phone] Landline: [phone] (9AM - 7PM GMT+4 - Monday to Friday) For Consultation: [email protected] For Sales Enquiries: [email protected]

#ESR #uaebusiness #dubaibusiness #businessindubai #BusinessinUAE #uae #dubai #businessowner #dubainews #business #politics #government

[amaaudit]

Empowering businesses to thrive. AMA Audit Tax Advisory navigates your financial complexities with expert guidance in audit, tax, and financial matters. Trust us to unlock your full potential.

#AMAAuditor #TaxAdvisory #FinancialEmpowerment #AMA Audit Tax Advisory #Top 10 audit firms in UAE #Top 10 audit firm in Dubai #Tax consultants in UAE #ADNOC Registration consultants #ESR consultants UAE #IC Certificate dubai

[akshaya890]

Tax Consultants UAE | Your Trusted Tax Advisory Firm | Tax Agent

We work closely with our clients to develop personalized tax strategies that maximize their financial potential. We offer a full range of corporate tax services, including tax compliance, planning, & structuring, also advice on consolidations and investments. In addition to our services, we offer proficiency in VAT and Excise tax. Our experienced team can guide VAT registration, tax compliance, filing, excise tax compliance, and planning. We believe in building lasting relationships with our clients, and our commitment to providing exceptional service is at the core of everything we do. So, whether you are a large corporation or a small business owner, we are here to help you navigate the complexities of the tax society and achieve your financial goals. Please explore our website to learn more about our services, and contact us to schedule a consultation.Learn More

#corporate tax consultant #esr in uae #tax advisors dubai #tax agent services dubai #tax consultants uae #tax residency certificate uae

[vatfirmsindubai]

VAT Return Filing in UAE: A Detailed Guide

What is VAT Return?

The VAT (Value Added Tax) return is the summary of all the purchases and supplies (goods or services) made by VAT-registered businesses/taxable individuals for a particular tax period. This summary, including the details of the tax imposed at every stage of sale/purchase, reflects the tax liability of the taxable persons – which is to be submitted to the Federal Tax Authority (FTA).

Want a seamless VAT return filing in Dubai? Get professional assistance in achieving UAE VAT compliance from experts at TRC Pamco.

VAT Filing in UAE – The Complete Procedure

Open E-Services Portal

Firstly, go to the FTA e-services portal. Log in with your VAT account’s credentials to access the dashboard which will show the basic details of your tax registration, currently active and associated with the FTA.

Click VAT Tab

In the navigation bar (placed on the uppermost part of the screen), click the VAT tab and from the dropdown menu, select ‘VAT 201 – VAT Returns’. Now, click on the ‘VAT 201 – New VAT Return’ to start the procedure.

Enter Information

Here, a few details of the taxable person like name, tax registration number, etc. will have to be filled in.

Mentioning VAT Sales and Expenses

For the current tax period, all the relevant details of VAT sales and expenses – like the zero-rated supplies, exempt supplies, etc. – have to be submitted. Also, all the expenses bearing the current VAT rate of 5% are to be submitted.

Due Net VAT Calculations

The taxable person’s net VAT due calculations have to be shown here. For the due amount that is higher than the recoverable amount, the tax authority is to be paid. If vice versa, a VAT refund can be claimed.

Declaration

Through the ‘Declaration and Authorized Signatory’ portion, you declare the accuracy and correctness of all the information provided to the Federal Tax Authority.

Through the above-mentioned process, you/your expert tax consultant can carry out the VAT filing in UAE.

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[arcauditinguae]

Deadline for ESR Announced June 30, 2022

UAE Government Announced Deadline for Annual Economic Substance Regulations (ESR) June 30, 2022 Deadline for ESR Contact us for ESR filing ☎04 5919500 Visit ARC Associates

#esr #esrindubai #business #uae #vat consultants in dubai #finance

[gspuauditing]

Audit and Accounting Firm in Dubai

GSPU Auditing is a leading Audit and Accounting Firm in Dubai, UAE.Offering Auditing and Assurance Services, VAT Consulting, ESR Compliance, AML Compliance, UBO Service, CFO Services and business setup services in Dubai, UAE