Tax consultancy
1) Tax Planning
Tax planning is very important for any types of business because as the owner of the company when it comes to taxation and then you have to prepare reports and forms that need to be filed with the government, you need proper guidelines. You also need to lower the amount of taxable income, and gain more control of when taxes are paid and also need to reduce the rate of tax to achieve your business goals. The professional accountants of EASY ACCOUNTING SOLUTION are always ready to address the demands of any types of clients in these areas to Continuing Professional Development in their respective fields.
2) Tax compliance review and tax audit preparation:
Compliance with tax laws is important to keep the system working for all and supporting the programs and services that improve lives. One way to encourage compliance is to keep the rules as clear and simple as possible. Overly complicated tax systems are associated with high tax evasion.
Tax audit is basically a government’s assessment of a company about their responsibility as a taxable entity. This kind of audit is conducted by the FTA to ensure that every liability is paid and every tax due is collected and given to the government within the timeframe given. The government also assesses a company whether they are following certain responsibilities that apply to their business as per the tax laws (VAT Law, Excise Tax Law, etc.). Our tax experts of EASY ACCOUNTING SOLUTION are always there to guide and support the taxable entity or individual to comply the tax requirements so that you will be ready to face tax audit with proper instrument and indenture at any time by the government.
3) Internal auditing
Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes. They ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection. Internal audits also provide management with the tools necessary to attain operational efficiency by identifying problems and correcting lapses before they are discovered in an external audit. Internal Auditor’s role is to provide Management with independent assurance on organization’s internal controls; risk management strategies and governance are operating effectively. Internal Auditors’ function includes supervising, evaluating, investigating and analyzing the risks & controls; checking and ensuring information and compliance with policies, procedures, and laws. Internal Auditor will assess for the achievement of goals and objectives set by the senior management. In case of short of stated goals, the auditor will identify process gaps and make suggestions for improvement for bridging the same.
At EASY ACCOUNTING SOLUTION, Our internal audit professionals take a risk-based approach to internal audit to help clients improve performance and operating efficiency. We go beyond traditional fundamentals and add tangible value, to elevate internal audit to an even more strategic and productive role in today’s corporate governance environment. We provide an independent professional evaluation and advise on the quality and effectiveness of the control environment within the organization. We also identify areas for improvement and implement strategies to help you to achieve your organizational objectives and make a positive contribution to the successful operation of your business.
4) Forensic accounting
Forensic accounting is a specialty practice area where accounting, auditing and investigative skills are used to analyze information that is suitable for use in a court of law. Forensic accounting professionals are skilled at quantifying damages and determining the full extent of a loss. They are involved in four basic areas of forensic analytics: data collection, data preparation, data analysis and reporting. Forensic accountants are used around the world by insurance companies, independent adjustment firms, lawyers, government and law enforcement agencies as well as by businesses of all sizes – from multi-national corporations to small businesses.
Our forensic accounting professionals are exceptionally dedicated and qualified experts with proven track records who provide clear and concise assessments that stand up to scrutiny and also is an independent and dedicated forensic accounting practice meaning we are free of the conflicts that can present difficulties for other accounting firms.
5) Vat Refund
When the input tax is greater than the output tax on a VAT return, the taxpayer can request a VAT refund after filing their VAT return. When a taxpayer submits a claim for refund, the FTA will process and review the application within 20 business days of submission. The taxpayer will be notified regarding the FTA’s decision to accept or reject the claim. If the process exceeds the timeline of 20 days, the FTA will notify the taxpayer regarding the extension of the deadline. The minimum amount of each tax claim submitted by business visitors under the Foreign Businesses Scheme is AED 2000.
It is always wise to have a detailed verification of the qualified documents before proceeding for submitting the application. VAT Consultants from EASY ACCOUNTING SOLUTION will conduct a detailed review before proceeding for submitting your VAT Refund application. Do contact us.
6) PENALTY RECONSIDERATION: UAE's Federal Tax Authority (FTA) always has the complete right to impose a penalty on any company it believes that has committed any violation listed in the same article of the same law. In many cases, companies believe that they should not receive such penalties, and therefore, as per article (27) of the Federal Law No. (7) Of 2017, the FTA has given the right to any penalized company to submit a penalty reconsideration request within 20 working days of the issuance of the penalty. The application is only acceptable in the Arabic language.
The application can be submitted by a Registrant / Non-registrant and Tax Agent, who are not satisfied with the authority penalty decision. If the application is properly explained and submitted with additional supporting documents (Only in Arabic). The authority will review the application and providing a waiver of penalties.
The experts of EASY ACCOUNTING SOLUTIONS are always here beside you who are bilingual in both Arabic and English language to remove the language barriers and file a proper reconsideration application to the authority to save your valuable cash from paying penalties.