-
Financial Reporting Advisory Services
Grant Thornton’s Financial Reporting Advisory Services (FRAS) team supports organisations through a diverse range of accounting and reporting services including transaction accounting, analysis and adoption of new International Financial Reporting Standards, training on new and complex standards, and other related services that enable organizations to achieve greater transparency and navigate through the ever-changing regulatory landscape.
-
CFO Advisory Services
Chief Financial Officers (CFOs) and finance teams periodically face difficulties in financial reporting and accounting. To address these issues and challenges GT’s team looks to reduce the periodic uncertainty faced by our clients around difficult reporting and accounting standards and can help overcome these difficulties with our CFO advisory services.
-
International Financial Reporting Standards
Capability in International Financial Reporting Standards (IFRS) is one of our core skills. We have access to a full-time team responsible for high quality, consistent application of IFRS throughout the global organisation.
-
International Public Sector Accounting Standards
We are equally experienced in the adoption and implementation of International Public Sector Accounting Standards (IPSAS).
-
In-Country Value
Grant Thornton is honored to be one of the Certifying Bodies to implement the National In-Country Value (ICV) Program for the Ministry of Industry and Advanced Technology (MoIAT)
-
Staff Secondment Services
Finding qualified, skilled professionals for a specific purpose and time period can be a significant challenge for many organisations. We alleviate that challenge with a talent pool of highly motivated and technically trained individuals who have excellent soft skills and the agility to adapt quickly to varied client environments.
-
Transformation Advisory
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
-
M&A and Transactions Advisory
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
-
Forensics
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
-
Restructuring
We have an established standard of excellence for Restructuring within the United Arab Emirates with a focus on client success throughout a complex period of the business life cycle.
-
Incorporation and Compliance
Grant Thornton assists businesses in setting up and complying with these regulations and acts as adviser for companies to ensure their activities, policies and procedures follow the guidelines specified by respective regulations.
-
ICFR
Grant Thornton is a market leader in providing Internal Controls over Financial Reporting (ICFR) services to many well-known entities in UAE.
-
Islamic Finance
Grant Thornton's Islamic Financial Services team comprises a global network of professionals with in-depth knowledge of Islamic finance and providing practical, value added assistance to their clients across a range of specialisms and issues.
-
Regulatory Compliance
Grant Thornton holds a proven track-record in Regulatory Compliance advisory, our range of services will facilitate robust guidance to help you manage your regulatory risks and affairs, our teams of specialists assist our clients in the following areas:
-
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
-
Business Process Outsourcing Services
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core business goals.
Getting to grips with the BEPS Action Plan
01 Jul 2014What does the OECD's planned overhaul of the international tax system mean?
The intensifying spotlight on how transfer pricing is undertaken and a flurry of new national legislation and disclosure requirements in countries around the world means tax management within multinational enterprises has never been more challenging. 'Getting to grips with the Base Erosion and Profit Shifting (BEPS) Action Plan' is the latest report from our series exploring the Organisation for Economic Co-operation and Developments (OECDs) planned overhaul of the international tax system, what it means for businesses and how they can prepare.
The BEPS Action plane looks to address instances where different tax rules interacting together leads to double non-taxation or less than single taxation. It will also address arrangements where companies' profits are shifted away from the jurisdictions where the creation of profits take place. Some of the OECDs objectives to combat this may be valid. They include the elimination of loopholes that allow profits to ‘disappear’ for tax purposes and ensuring the tax system keeps pace with the shift towards an increasingly borderless digital economy. However, the scope has broadened to such an extent that the Action Plan will touch almost every area of international taxation.
Many multinational enterprises (MNEs), especially fast-growing ones, have yet to evaluate the potential impact of the Action Plan proposals on their business. But they are the ones who will feel the biggest burden. So it’s vital to understand the implications and seek to avert any proposals that could have a damaging effect.
The ambitions of the BEPS Action Plan go much further than closing tax loopholes and will affect tax management and wider organisational structures within all MNEs. As a business the key questions you need to answer are:
- what risks could the proposed changes present for our business?
- how long could it be before changes are enacted on the ground?
- what are the key considerations that we will have to address?
