Our technology advisory team works with dynamic businesses to help them manage the risk of being disrupted by digitization and to introduce innovative technology and new business models. ERP Solutions ERP Consulting / Advisory ERP Pre/ Post implementation review Technology Consulting Database Analysis Framework and Compliance Redefining or diagnosing problems Solving problems and makingrecommendations IT Project Management Process Automation Digital…
The Ultimate Beneficial Owner (UBO) Procedures are the key element to combating money laundering and financing of terrorism The Beneficial Owner is an individual who owns 25% or more shares (directly or indirectly) or has absolute control in a UAE entity Applicability– The registration of beneficial owner data is now required for all companies registered in the UAE, including the…
The UAE cabinet issued economic substance regulations which require UAE entities carrying out one or more “Relevant Activities” to substantiate adequate economic substance in the UAE and report actual profits that are commensurate with the economic activity undertaken within the UAE. What are the Relevant Activities? Banking activities Insurance activities Fund management activities Financing or leasing activities Headquarters activities Shipping…
Money laundering is a type of financial crime which involves taking criminally obtained proceeds and disguising their origin so as to appear to be from a legitimate source. Anti-money laundering (AML) refers to the activities which financial institutions perform to achieve compliance with legal requirements to actively monitor and report suspicious activities with an intent to curb money laundering. The…
Excise tax, introduced across the UAE in 2017, is a form of indirect tax levied on specific goods those are harmful to human health or the environment. Excise tax is currently applied on the following goods at applicable rate while carrying out specified activities: Tobacco and tobacco products Liquids used in electronic smoking devices and tools Electronic smoking devices and…
On January 31, 2022 the Ministry of Finance of the United Arab Emirates (UAE) announced the introduction of a federal Corporate Tax on business profits, effective from the financial year beginning June 1, 2023. The tax rate is a uniform 9% across all emirates and all commercial activities and is payable on profits earned above AED 375,000 during a financial…
As a team of passionate educators at heart, we offer knowledge transfer and comprehensive training programs in the following areas: IFRS International Financial Reporting Standards, including how to align an organization’s records and ERP with their requirements. This will ensure accurate and timely retrieval of reports in compliance with IFRS. VAT and Excise tax The taxation structure in the country…
Starting a business in Dubai is a dream for entrepreneurs from across the globe. Why is it so? For over six centuries, its creek has provided a haven for the merchant vessels laden with goods from Dubai’s traditional trading partners in the Far East, the Indian subcontinent and Africa. It is not surprising therefore, that entrepreneurs are flocking to set…
Most SME business owners juggle between several key roles within their organization. This creates a situation where they’re unable to devote adequate attention to areas of analyzing the financial and operational data. Appointing a CFO is crucial for forward thinking and for steering your business in the right direction. Outsourcing this function can have a range of benefits: Firstly, you…
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