Our Services
We assist you with any needs you may have with regards to VAT and Tax Advisory, Accounting and Bookkeeping , Statutory Audit, Internal Audit, Payroll management & Business Consultancy Services.
VAT and Tax Advisory
Being a registered tax agent with Federal Tax Authority we provide VAT (Value added Tax) Advisory Services in UAE providing clients with a wide range of Tax Services in UAE with accordance to the client’s business needs. VAT Experts at Absolute Trust are committed to provide the best VAT Advisory Service in the UAE to the clients in compliance with the rules and regulations of VAT in the UAE having their international experience in Taxation. The Tax Team at Absolute Trust are professionally equipped with relevant industry experience from different ends of the globe.
VAT SERVICES includes:
- Representation to FTA on behalf of client as registered tax agent.
- Registration for VAT with Federal Tax Authority (FTA)
- Implementation of VAT in the organization
- Review of accounting transactions to be compliant with VAT
- Filing of monthly/ quarterly and yearly VAT returns
- Applying for VAT refund return forms
- Awareness session to a team of people
As per the article 14 of the federal law no 7 of 2017 and article 10 on the executive regulations specifies the procedure for listing a Tax agent in the register and the rights and obligations of the tax agent before the authority and the taxable person. Absolute Trust is one of the registered tax agent in the UAE to serve the business community better. Below is the screen shot from the official website of the FTA showing our name as the registered tax agent in the list.
Below Screenshot for the Registered Tax Agent with Federal Tax Authority in UAE (TAAN: 20013736 )
Accounting and Bookkeeping
Absolute Trust offers a wide range of accounting services that provides solutions to the accounting requirements of any business in the global market. We ensure that the financial statements are prepared in line with International Financial Reporting Standards (IFRSs). Absolute Trust makes sure that the services are provided with high quality within agreed time lines.
This vertical provides the following services:
- Financial accounting system design & implementation
- Setting up of accounting procedures
- Accounting of routine financial transactions
- Accounting of period ending financial and related transactions
- Preparation of financial statements under IFRS and other supporting schedules
- Supervision and review of financial accounting records
Statutory Audit
Most entities registered in the United Arab Emirates are required by law to have their annual financial statements audited.
Even though some businesses don’t need to have an audit by law, it makes commercial sense for having an audit, such as getting the best price when it is opportune time to sell the business, keeping banks happy when you need finance, keeping credit insurers and suppliers happy, but most of all, giving you the comfort of knowing that you have strong controls and accurate results.
The companies in UAE require their audits to be completed in line with International Standards of Auditing with accounts being prepared under International Financial Reporting Standards.
We work with our clients to ensure that they are able to fulfil their statutory obligations and file audited accounts in a timely manner.
For many private companies, financial reporting requirements do not necessarily require audit services. We can provide alternative services, such as reviews and compilations. These types of services may be a better alternative to an audit, yet meet your needs and those of your financial statement users. We can advise you on what the best alternative may be to meet your reporting needs and requirements.
Internal Audit
Assessing and managing risk is an everyday task that needs to be met head-on. Companies should develop and implement a plan that follows a top-down, risk-based approach to identify and manage potential risks. Our internal audit services are designed to be right-sized to meet the needs of your organization, whether you need assistance for your existing internal audit function, or a turn-key solution.
With internal strategies tailored to the individual needs of each client, Absolute Trust conducts audits in a pro, forward-thinking manner – not as a traditional advisory service, but as a tool for future success. An audit allows businesses to identify and evaluate their internal controls and better understand what actions need to be taken to ensure operations are running efficiently at all times.
As part of an internal audit, clients are able to:
Payroll management
Any business that has more than one employee must have a payroll system. Paying employees consistently and with no delays not only impacts their morale, but it also reflects the company’s financial stability. Moreover, it is a requirement for compliance with federal and state laws. While this is a complex process, having an efficient system helps streamline and centralize the payroll method. But first, let’s discuss what is payroll management process?
In essence, the payroll management process refers to the administration of an employee’s financial records which includes the salaries, wages, bonuses, deductions, and net pay. A payroll management system also promotes better security and helps keep employee data confidential. Different levels of data access can be specified per user roles, from administrators to employees.
Payroll Outsourcing, as the name implies, involves companies handing off their data to organizations that specialize in computing employee salaries. Absolute Trust can be your partner in maintenance, updation and processing the payrolls by complying with the local regulations. Outsourcing of your payroll processing to Absolute Trust can help you in maintaining the confidentiality of the data.
Business Consultancy/ Company Incorporation Services
UAE has successfully emerged as a global investment and tourism hub over the past few decades and it is undoubtedly the dream of any businessman to start their company in this futuristic country. It is one of the best places in the world to flourish your business as it offers countless opportunities to foreign investors, companies and entrepreneurs. Prior to company formation in UAE, you should have a thorough knowledge of the UAE market and an understanding of the initial costs of setting up a business.
Forming a company in UAE can turn out to be nightmare if you are unaware of the legal formalities. It requires approvals from various government departments and a single mistake will result in a re-submission of the form along with financial loss.
UAE offers 3 types of company formations, which are mainly free zone, mainland and offshore. The rules and procedures for setting up a firm are different for all these establishments.
This vertical provides the following services: