- BUSINESSES ON TRACK
Services We're Offering
UAE Related Services
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Impact Assessment and Advisory
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- Eligibility of exemptions, deductions, groupings, set off of losses, taxation of free zones etc
- Group reorganisation for alternative tax optimum structures
- Analysis of Permanent Establishment and analysis for best practices
- Preparation and filing of submissions and representation before Federal Tax Authority for any clarifications required
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Registration and Compliance
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- Assistance in tax registration
- Calculation of taxable income after claiming deductions and exemptions and assistance in payment of tax
- Annual filing of corporate tax return
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Economic Substance Regulations
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- Examining the group structure to advise on applicability of ESR
- Setting up policies and procedures for compliance with ESR tests
- Compilation and submission of annual notification for the entities carrying on “relevant activity” in UAE
- Compilation and submission of online economic substance reports for such entities
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International Tax & Transfer Pricing
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- Reviewing agreements and arrangements from transfer pricing perspective
- Advisory on withholding tax implications on cross-border transactions
- Optimum transfer pricing benchmarking and documentation in alignment with commercial rationale
- Assistance in implementation of pricing policies and regular reviews
- Transfer pricing audit and compliance including Country by Country reporting
- Robust solutions to simplifying tax complexities
Corporate Tax
At GBCA UAE, we offer quality tax consultancy services and simplify your tax reporting with the help of our trained and qualified staff.
- Simplifying your accounting needs
book keeping and accounting
With extensive experience and expertise, Team GBCA ensures that the financial transactions of the clients are accurately recorded and kept up-to-date, allowing key decision makers to rely on management reports. This can help in taking decisions that can reduce administrative burden, overall costs and overheads, improve efficiency and lay down a strong foundation for clients’ organisation, allowing clients, the time and resources to focus on growing and developing the business.
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Transaction System Setup & Training
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Our team can assist in setting up proper accounting systems and process flow as per clients’ specific business requirements. We can also provide training to client’s team on the best practices of accounting, processing and documentation ensuring hassle free day to day operations and also smooth transition in case of change of key personnel.
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Accounts receivable and payable outsourcing
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Cash flow management is a critical function in any organisation. We assist with accounts receivable and payable to help with better cash flow management.
- Understanding the business process and internal controls
- Procedures for timely follow-up /timely payment procedures
- Periodical status report to the management
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Accounts review and reconciliation services
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We provide an independent review of the accounts prepared by clients and recommend suggestions to improve the reliability of financial information and internal control process. This may include Cash/Bank Reconciliation, Inventory Reconciliation, Receivables and Payables Reconciliation etc
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VAT advisory
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We assess the financial impact of VAT on the transactions undertaken or proposed to be undertaken by clients and provide insight along with solution customised to clients requirements in compliance with law
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VAT Registration/Deregistration
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We assist in the process of obtaining registration i.e. TRN with the FTA and the process of deregistration.
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VAT Compliance Support
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A taxable person is responsible to submit VAT return in the UAE in the prescribed format given by the FTA. We extend our support to organisations in the UAE for filing their VAT Return and other requirements such as account update with the FTA, assistance in applying for refund etc.
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VAT Audit/Health check-up
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Health Checks are a comprehensive review of the organisation’s VAT readiness and compliance procedures. Based on our health check-up reports, the organisation will be better equipped to mitigate any deficiencies, improve efficiencies, review and validate their VAT treatments to various business transactions, while also ensuring the accuracy of the information reported to the FTA.
- Your trusted VAT consultants
UAE VAT
We offer comprehensive VAT solutions to ensure hassle free and smooth functioning of clients’ business operations. We also assist in evaluation of the financial impact of VAT on business transactions and corrective measures for impact mitigation and tax leakages. We support organisations in tax compliances, refund processing and streamlining accounting systems and databases in compliance with the law
- Your trusted VAT consultants
UAE VAT
We offer comprehensive VAT solutions to ensure hassle free and smooth functioning of clients’ business operations. We also assist in evaluation of the financial impact of VAT on business transactions and corrective measures for impact mitigation and tax leakages. We support organisations in tax compliances, refund processing and streamlining accounting systems and databases in compliance with the law
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VAT advisory
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We assess the financial impact of VAT on the transactions undertaken or proposed to be undertaken by clients and provide insight along with solution customised to clients requirements in compliance with law
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VAT Awareness and Training Session to Employees
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This mainly includes:
- Training client’s team with basic and general provisions of the VAT law
- Industry-specific impact analysis and training
- Addressing client team's routine queries in relation to impact of the law, tax, accounting, documentation and processes.
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VAT Registration/Deregistration
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We assist in the process of obtaining registration i.e. TRN with the FTA and the process of deregistration.
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VAT Compliance Support
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A taxable person is responsible to submit VAT return in the UAE in the prescribed format given by the FTA. We extend our support to organisations in the UAE for filing their VAT Return and other requirements such as account update with the FTA, assistance in applying for refund etc.
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VAT Audit/Health check-up
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Health Checks are a comprehensive review of the organisation’s VAT readiness and compliance procedures. Based on our health check-up reports, the organisation will be better equipped to mitigate any deficiencies, improve efficiencies, review and validate their VAT treatments to various business transactions, while also ensuring the accuracy of the information reported to the FTA.
- Your effortless beginning in a new country
Business Setup services
There is a lot of debate about which is better to start, between the free zones and the mainland. It depends on the type of business to be started in the UAE. Based on client’s requirement, we provide strategic business inputs to ensure a smooth incorporation process. We also assist in the initial period of the set-up for any accounting or support services.
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Mainland incorporation
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Mainland is a highly preferred destination where one can start own business venture. Both, the business opportunities and facilities make it an ideal destination to open an organisation.
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FTZ incorporation
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A free trade zone is an area with special tax-free status and low trade barriers where goods can be manufactured, imported/exported, handled, or reconfigured with tax benefits. The UAE government has set up multiple free zones in the Emirates, each designed for specific business activity.
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India Team Support
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Our Team in UAE is supported by GBCA & Associates LLP India
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Internal Financial Control
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Internal Financial Controls consist of policies and procedures to be adopted by the organisation for a strong control environment to ensure:
- Orderly and efficient conduct of business, including adherence to organisation's policies
- Safeguarding of its assets
- Prevention and detection of frauds and errors
- Accuracy and completeness of the accounting records and
- Timely preparation of reliable financial information
Performed by our team of professionals, we help to build and develop process and controls by conducting an extensive review of the internal financial processes and controls, operating effectiveness of such controls and control framework that will help meet client’s goals. We provide the following range of advisory services:
- Documentation of the financial processes throughout the organisation
- Identification of significant risks and controls for all key financial process areas and designing the Risk and Control Matrix (RCM)
- Assessment of gaps in internal financial controls and identification of alternatives to fill such control gaps
- Testing the design and operating effectiveness for all identified key financial controls, identifying control deficiencies and suggesting remedial plans
- Training client’s team on internal financial controls
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IFRS advisory
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International Financial Reporting Standards (IFRS) play a pivotal role in global financial reporting as countries across the globe are adopting them. The increasing complexity of financial reporting and the rapid pace of change has led to significant increase in demand for expert accounting advice. Our service offering includes:
- Impact analysis and technical advisory
- Implementation services of new accounting pronouncements
- Training client’s team on basic and general provisions of IFRS
- Preparation of accounting manual and policies
- Preparation of financial statements
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Outsourced CFO
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Our tailored Outsourced CFO services give businesses access to financial experts with a wide range of experiences committed to keeping up with best practices in the field. A non-exhaustive list of the services is mentioned below:
- Financial planning, forecasting and budgeting
- Financial analysis, MIS reporting and Variance analysis
- Cash Flow and Working Capital Budgeting and Management
- Risk management and Internal controls
- Strategic planning and advice
- Coordination with bankers, attorneys and other professionals
- Review of terms of contracts with vendors, customers etc
- Periodic review of books of accounts and various functions
- Management of relevant documentation
- Assisting to build a foundation for a solid success story
Business Support services
The complexity of the ever changing regulatory environment makes it imperative for clients to invest in analysis of various business support services.
- Assisting to build a foundation for a solid success story
Business Support services
The complexity of the ever changing regulatory environment makes it imperative for clients to invest in analysis of various business support services.
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Internal Financial Control
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Internal Financial Controls consist of policies and procedures to be adopted by the organisation for a strong control environment to ensure:
- Orderly and efficient conduct of business, including adherence to organisation's policies
- Safeguarding of its assets
- Prevention and detection of frauds and errors
- Accuracy and completeness of the accounting records and
- Timely preparation of reliable financial information
Performed by our team of professionals, we help to build and develop process and controls by conducting an extensive review of the internal financial processes and controls, operating effectiveness of such controls and control framework that will help meet client’s goals. We provide the following range of advisory services:
- Documentation of the financial processes throughout the organisation
- Identification of significant risks and controls for all key financial process areas and designing the Risk and Control Matrix (RCM)
- Assessment of gaps in internal financial controls and identification of alternatives to fill such control gaps
- Testing the design and operating effectiveness for all identified key financial controls, identifying control deficiencies and suggesting remedial plans
- Training client’s team on internal financial controls
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IFRS advisory
-
International Financial Reporting Standards (IFRS) play a pivotal role in global financial reporting as countries across the globe are adopting them. The increasing complexity of financial reporting and the rapid pace of change has led to significant increase in demand for expert accounting advice. Our service offering includes:
- Impact analysis and technical advisory
- Implementation services of new accounting pronouncements
- Training client’s team on basic and general provisions of IFRS
- Preparation of accounting manual and policies
- Preparation of financial statements
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Outsourced CFO
-
Our tailored Outsourced CFO services give businesses access to financial experts with a wide range of experiences committed to keeping up with best practices in the field. A non-exhaustive list of the services is mentioned below:
- Financial planning, forecasting and budgeting
- Financial analysis, MIS reporting and Variance analysis
- Cash Flow and Working Capital Budgeting and Management
- Risk management and Internal controls
- Strategic planning and advice
- Coordination with bankers, attorneys and other professionals
- Review of terms of contracts with vendors, customers etc
- Periodic review of books of accounts and various functions
- Management of relevant documentation
India Related Services
- One stop solution for Non-Resident Indians
Indian tax and FEMA Compliance & advisory
As the needs of families grow across wealth and governance, they increasingly seek more than just regular compliance services. We use state-of-the-art technology platforms, infrastructure, peer networks and the expertise to build holistic and innovative solutions for client’s family to compare client’s actual financial affairs with client’s desired financial plans and to serve as a one stop solution for all client’s tax and regulatory requirements.
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Indian Tax compliance & Advisory
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We offer complete compliance and advisory services including following range of services:
- Advisory and Certification for withholding tax for payments to NRIs
- Advisory and application for lower/nil tax deduction certificate from Indian Tax Authorities to reduce blockage of funds as tax refunds.
- Tax Advisory, Income Tax Return, Representation and allied services
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FEMA Tax compliance & Advisory
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We offer complete compliance and advisory services including following range of services:
- FEMA Advisory and support services in relation to acquisition & transfer of Indian Asset and remittance of funds from India.
- Entry Strategy and Compliance for business venture in India
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Accounting and Wealth Reporting
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Our platform helps to consolidate client’s entire Balance Sheet across multiple asset classes. This will help you evaluate your net wealth for achieving investment targets and also maintain a strong focus on overall risk management. We offer proactive solutions focussing on client specific requirement.
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Investment support services
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We assist clients to comply with investment procedures and documentation in relation to opening of bank account(s), KYC, demat account procedures, application of OCI Card etc. We also support in identification of mutual funds, PMS or other secondary market investment opportunities suitable for clients. Our focus is to save client’s time so client may concentrate on his business. We also provide document maintenance and digitalization services for easy and convenient retrieval, whenever required.
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Estate and succession planning
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Estate planning is a sensitive and often overlooked subject. Distribution of wealth and how the wealth should be made available to the successors is an important process. One’s unique wishes on succession can be addressed through a well thought out combination of gifting of assets, drafting Wills, formation of private Trusts, family arrangements etc. We are committed to assisting our client in crafting a personalised succession plan for an enduring legacy in the most tax efficient manner.