Services
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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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.
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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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.
Tax policy reforms and the introduction of new tax regulations across the GCC are creating huge challenges for organisations. Grant Thornton UAE offers a...
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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
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core...
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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
GTUAE China Desk
VAT
Tax Alert - February 2020
15 Mar 2020UAE
Excise Tax
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Import of Waterpipe Tobacco and Electrically Heated Cigarettes to UAE without ‘Digital Tax Stamps’ to be banned from March 1, 2020
As of 1st March 2020, any imported waterpipe tobacco (‘Mu’assel’) or electrically heated cigarette plugs that are not marked with ‘Digital Tax Stamps’ will be prohibited across the UAE as asserted by the Federal Tax Authority (‘FTA’).
The relevant article can be accessed by clicking here.
- Renewal of Designated Zone Registrations
A recent clarification was issued in relation to Excise Tax and the measures that must be taken by the warehouse keepers to renew the registration of Excise Tax Designated Zones. The clarification highlights the below points:
- The warehouse keepers should review the registration expiry dates of respective designated zones and apply for renewal every 12 months;
- Payment of renewal fee should be done separately for each designated zone; and
- Review the value and type of excise goods held in the designated zone so that the FTA may review the value of the current financial guarantee and advise to update accordingly.
It should be noted that if the above-mentioned steps were not followed, it may result in all the goods held within the designated zone to be considered as released for consumption in the UAE with Excise tax becoming payable immediately.
The full public clarification can be accessed by clicking here.
Customs update
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Makasa related cancellation requests
As of 1st March 2020, all the Makasa related cancellation requests must be submitted via email along with the following attachments:
- Due number cancellation;
- Letter from the local company;
- Original statistical exports bill with due number;
- Inspection reports;
- Transit in from FZ;
- Import bill from the UAE border.
The complete circular can be accessed by clicking here.
- Customs Policy no. DCP 47/2020 on customs procedures to apply the declaration system.
The Dubai Customs published a new policy regarding inbound and outbound travelers with the correct declaration of money, currencies or other negotiable financial instruments precious stones.
The full policy can be accessed clicking here.
GCC Update
Kingdom of Saudi Arabia (‘KSA’) Updates
- Rewards for whistleblowers
Recently a guide was published by the GAZT which highlights the rewards that may be received by whistleblowers when informing the following tax violations:
- Violations in ZAKAT;
- Violations in VAT;
- Violations in Income Tax; and
- Violations in Excise Tax
Further, the guide also explains the procedure along with the requirements needed to enable a whistleblower to receive the reward.
The full guide (only available in Arabic) can be accessed by clicking here.
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