-
Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
-
Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
-
Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
-
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.
-
Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
-
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.
-
HR & Payroll Services
HR & Payroll Services
-
Outsourcing Advisory Services
Outsourcing Advisory Services
VAT is set to truly be taxing
Key Trends of 2017: Diversification, technology and employment
As part of the stabilisation strategy, we have witnessed a number of regulatory changes, with the recent one being the introduction of the new bankruptcy law in the UAE. The new law will further promote foreign direct investment as it gives investors greater clarity over the potential downside of VAT, with the next 13 months being crucialstment and protects jobs, gives certainty and works to maximises creditor returns.
We have also been privy to one of the largest fiscal reforms which the region is currently undergoing. This reform will see VAT being implemented from 1 January 2018, by way of generating a new source of income. In order to do so successfully and create a tax system which works, the need for businesses to invest time and effort in preparing their processes, structures, systems and people will only increase.
Grant Thornton in the UAE said “there is a common myth that VAT implementation has an impact for the finance function of a business only, in fact the readiness and implementation of VAT will require a paradigm shift in the manner in which businesses operate and manage their processes. The seismic change will have a ripple effect on every function and person across the business”.
Following the model of countries who have recently implemented VAT, which include Singapore and Malaysia, a minimum of 12 months are required in order to prepare systems, processes and people in order to be fully prepared and ready to manage VAT. With less than 13 months remaining before the impending introduction of VAT in the UAE, businesses are urged to replace complacency with an active commitment to prepare for the significant change required in order to be ahead of the curve.
Hisham Farouk, CEO of Grant Thornton states “The Ministry of Finance (MoF) are releasing regular updates, with another being expected very soon – having such speciality in our team allows Grant Thornton to truly enable our clients to manage this fiscal reform prior to the implementation date. From technological amendments to finance function remodelling, the time for change is now”