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Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
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Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
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Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
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Financial Reporting Advisory Services (FRAS)
Our team provides timely advice on the impact of accounting changes to assist businesses in the development of an appropriate implementation roadmap.
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Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
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Business Risk Services
Organisations need to understand risks thoroughly to be able to manage them better. Grant Thornton UAE helps businesses achieve the best balance between minimising risk exposure, optimising profitability and developing compliance review checklists.
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Regulatory Advisory Services
Grant Thornton UAE's extensive understanding of the overarching supervisory framework within the region equips our professionals to support financial institutions comply and abide by the set of regulatory mandates throughout the rapidly evolving ecosystem.
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M&A and Transactions Advisory
Grant Thornton UAE works with organisations on transactions from start to finish, assisting with strategy, identifying risks, executing deals, and helping to unlock their potential for growth and value creation.
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Restructuring Advisory
Grant Thornton UAE is committed to realising value for shareholders, in a way that recognises and supports the interests of all stakeholders. Our solutions maximise value, provide clarity and direction, and accelerate recovery and transformation for businesses.
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Technology Advisory & Cybersecurity
IT and technology are fundamental to drive the performance of businesses. Through leveraging the power of technology, Grant Thornton UAE helps organisations define and identify growth opportunities to achieve value-driven transformation and innovation.
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Forensics
Fraud and corruption pose a growing challenge worldwide. As the commercial landscape changes, an increasingly regulated environment requires stringent governance and compliance processes. Grant Thornton UAE helps organisations navigate challenges and crisis with a hands-on approach coupled with the use of technology.
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ESG Services
The Environment, Social and Governance (ESG) agenda has gained significant traction over the years, to become one of the key strategic aspects of any business. It is imperative that all organisations, irrespective of industry sector, engage with their stakeholders and prioritise ESG practices to unlock sustainable growth opportunities.
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Corporate Tax
Our diversified team of corporate tax subject matter experts combines a perfect blend of international experience across several industry sectors, technical expertise, and commercial nuances with a commitment to deliver exceptional value to your business.
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VAT
The VAT team at Grant Thornton is well versed with the VAT Laws applicable across the region and holds valuable experience and professional accreditation in assisting clients across diverse industries to comply with the VAT obligations.
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Transfer Pricing
Grant Thornton UAE assists its clients in providing transfer pricing solutions that are implementable and operational, considering the facts and concerns of its clients.
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International Tax and Tax Due Diligence
Grant Thornton UAE supports multinational groups to optimise their tax structures. We can also assist businesses in analysing existing group transactions and inter-group supplies, as well as advising on potential implications of various taxes to facilitate an efficient Group tax structure.
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Economic Substance Requirements
Economic Substance rules were introduced in the UAE in 2019, requiring UAE businesses that undertake certain ‘Relevant Activities’ to maintain and demonstrate adequate substance.
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Customs and International Trade
The team at Grant Thornton is positioned centrally to assist the businesses with global cross-border tax structuring, planning and compliance needs.
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Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
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Incorporation and PRO
We provide guidance and help with setting up new entities in the UAE’s mainland and all the UAE free zones, as well as re-domiciliation of companies in the UAE. Our team drafts the needed legal documents and interacts with government authorities on various regulatory matters.
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HR & Payroll Services
HR & Payroll Services
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Outsourcing Advisory Services
Outsourcing Advisory Services
Mandatory DEWS Plan - Effective 1st Feb 2020
15 Jan 2020The DEWS (DIFC Employee Workplace Savings) Plan is a progressive End-of-Service Benefit Plan introduced within the Dubai International Financial Center (DIFC) to restructure the current End-of-service Gratuity Plan into a funded and professionally managed Defined Contribution Plan.
Employers can claim exemption from joining DEWS if they have an Alternative Qualifying Scheme and have obtained a Certificate of Compliance from DIFC.
All employees who are on DIFC Visa will need to be enrolled into the plan.
Contributions
The various types of contributions to the DEWS plan which are to be transferred to the Trustee’s Bank Account by the due date are as follows:
- Mandatory Minimum Employer Contribution
For a period of up to 5 years of service = 5.83% of the Employee's Monthly Basic Salary; and
For the period in excess of 5 year’s service = 8.33% of the Employee's Monthly Basic Salary.
- Voluntary Employee Contributions
Employee Contributions is the DEWS Booster which an employee can opt to contribute which is deducted from their monthly salary and then transferred by the Employer.
- Optional Contributions
Accrued Gratuity as of 31st Jan 2020 by obtaining a letter of written consent from the employees.
How can Grant Thornton Help
We work with our domestic and multinational clients who represent a wide variety of industry sectors, in order to understand their business needs, before implementing systems and processes to manage their Payroll function suited to their specific needs.
Our team of payroll experts can support your payroll function by providing guidance on online registration and monthly calculation of the DEWS Contribution, preparing an accurate monthly file to be submitted via DEWS portal, advising on or calculating client the contribution amount to be transferred to the Trustees Bank Account, and calculating the End-of-Services accrued amount as of 31st Jan 2020.
At Grant Thornton, we take care of all our client's payroll needs such as new joiner and leavers process, changes in employees' salary, existing End-of-Service computation and now the new DEWS plan.
The Management of our clients is able to focus on their core business activities knowing Grant Thornton will ensure they are in compliance with the various requirements of the DIFC Employment Law.
For further details on how we can help you with the DEWS plan, kindly contact Atul Varma and Ramesh Poongavanam.