TransPrice
Heart of Opportunity
TransPrice GDT helps you wade through the corporate world right from the inception stage of your business. Our knowledge of rules and regulations in the UAE, combined with hands-on experience in local business, will see you through various complex decisions with ease. Our staff is specially trained to cater to the client’s needs, understanding the nature and requirements of their business and providing advice on the most suitable working environment. We specialize in UAE company setup, UAE Free Trade Zone company setup, and Offshore company setup. Our offering of services includes:
- Help you procure the right kind of business license based on your requirements
- Recommending the ideal legal setup for your business
- Execute all paperwork and documentation associated with incorporation
- Liaising with local authorities and other stakeholders
Mitigate Tax Risks and Ensure Compliance with Our Tax Expertise
Transfer pricing is becoming an increasingly relevant and important aspect for businesses across the globe due to the rapid expansion of global markets. With UAE being a hub of international trade and the introduction of Corporate Income Tax, businesses will have to comply with transfer pricing rules set under the OECD Transfer Pricing Guidelines. The Federal Tax Authority stipulates strict documentation for all inter-company and inter-group transactions. Irregularities in compliance can lead to harsh penalties. To avoid these, it is best to rely on experts on the matter of Transfer Pricing.
Our team of astute specialists is supported by international tax experts and business advisors who ensure that no critical aspect is overlooked. Our in-depth knowledge of the subject matter facilitates informed decision-making for our clients.
Transfer Pricing
Planning
Tax Structuring &
Financial Planning
International Tax
Advisory Services
Advisory Related to
International Transactions
Audit and Assurance Services
TransPrice GDT is valued by our clients for efficient and timely Audit and Assurance services. We conduct our audits in compliance with all statutory and regulatory requirements, while also ensuring adherence to accounting standards like IFRS and IGAPP.
Our expert team of auditors specializes in both Internal and Statutory audits. We follow the principles of utmost objectivity and professional independence while engaging with clients. It is our constant endeavor to provide our clients with the most accurate and transparent report on their financial activities.
Our team of auditors also assists in specific subject matter and report the independent findings to our clients. The nature, timing, and extent of the procedures to be included in the course of such audit procedures shall be discussed and agreed upon before the engagement.
We conduct audits of specific functions like Billing, Payroll, and so on. We also specialize in Acquisitions, offering the service of Due Diligence to our clients.
Accounting & Financial Reporting Services
How does a business decide whether to expand, diversify or simply hive off certain operations? These complex actions need to be backed
by solid explanations and these reasonings are provided through analyses of the financial data of any business.
Maintaining a full-time accounting team can be a major overhead for an individual client or small and medium enterprises. Outsourcing the function of accounting and financial reporting can not only save your time but also money, especially by avoiding costly financial errors.
We are a team of well-trained professionals who provide a host of accounting and bookkeeping services. We take pride in our extensive knowledge of various accounting packages/software and our expertise ranges from stand-alone accounting packages to ERPs and online accounting software.
TransPrice GDT aids the client in the following areas of Finance and Administration
- Accounts Supervision - managing their junior-level staff
- Providing clients with Budgets and Forecasts (yearly, quarterly, monthly)
- Forecasting & Projections, PDC Management, and preparation of various management reports
- Preparation and mapping of chart of accountants
- Customized Payroll Solutions – managing total Payroll & WPS services, from preparing and maintaining the monthly payrolls to drafting bank transfer letters and maintaining EOSB
TransPrice GDT’s world-class services are designed to boost the efficiency and profitability of your business.
Tax Consultancy Services
Businesses grow and thrive when the attention of the leadership is focused on their core competencies. Their sights should be trained on the next big product launch or foray into a new market and not on accounting or tax planning. These are best left to experts like us who can help you do your business with much ease and no worries. Our team of tax experts helps you handle tax-related matters both in UAE as well as abroad. We provide customized tax solutions to individuals and business owners, after intensive analyses of their financial details. At TransPrice GDT, we empower clients to take informed decisions to mitigate their tax liabilities.
VAT was introduced in UAE in 2018 along with GCC. The general VAT rate applicable to most goods and services is 5%, but there are a few exemptions to this. The Federal Tax Authority(FDA) mandates a specific form of record-keeping as part of compliance and businesses failing to do so are likely to attract hefty penalties.
At TransPrice GDT, we assure timely compliance with fast-changing VAT regulations. We assist in the following areas
> VAT registration for individual companies or groups
> Filing of monthly or quarterly VAT returns
> Refund of excess input > VAT
> Tax Audit
> Penalty reconsiderations
Corporate Tax
In January 2022, the Ministry of Finance of the UAE announced the introduction of a Federal Corporate Tax on business profits, effective from the financial year beginning June 1, 2023. It will be levied at the rate of 9% on a net profit of AED 375,000(USD 100,000).
It is mandatory for a business that falls within the ambit of CP to register with the FTA and obtain the Tax Registration Number. All such companies, including the ones in Free Zones, are obligated to file returns under UAE Corporate Tax Public Consultation Document. Also, Free Zone companies can avail of the benefit of 0% tax only subject to the audit of their financials.
TransPrice GDT can assist you in:
> Analyzing the applicability of Tax to the Company
> Restructuring the Business model
> Applicability of withholding taxes on Cross border transactions
> Filing of Annual returns
> Assist the businesses in Tax Grouping and file the taxes as one fiscal unit
A Tax Residency Certificate is a document issued by the Ministry of Finance, UAE, confirming the country of tax residence for a company registered in the UAE, as well as individuals residing in the UAE. By obtaining this certificate, companies and individuals can take advantage of agreements of double taxation avoidance on income signed by the UAE with more than 65 countries. It is particularly beneficial to foreign investors and companies from other taxable jurisdictions.
We at TransPrice GDT can guide you in procuring Tax Residency Certification.
Anti-Money Laundering Compliance Services (AML Compliance)
As Anti Money Laundering(AML) rules become more stringent every day, businesses are being closely scrutinized for their AML compliance. The UAE ministries, in tandem with other countries, are implementing key measures to introduce processes and controls on AML/CFT within the financial ecosystem.
Meeting all the statutory requirements on AML can be overwhelming for any business. Reaching out to experts on the subject matter can help secure total regulatory compliance for your business. We are a team of well-trained professionals who provide a host of accounting and bookkeeping services. We take pride in our extensive knowledge of various accounting packages/software and our expertise ranges from stand-alone accounting packages to ERPs and online accounting software.
Enhanced Due Diligence (EDD) is an advanced due diligence process that offers detailed risk investigation, especially while handling high-risk customers and large transactions. Our Enhanced Due Diligence services offer solutions to address risks and protect businesses.
Complexities within AML compliance are on the rise and companies stand to significantly benefit from customized compliance advisory services. Our team of AML specialists plays a pivotal part in ensuring your business is compliant and your workforce is aware of the ever-changing regulations of AML/CFT compliance.
Based on the requirement of your entity, its size, the complexity of its operations, and the applicable regulatory framework, GDT can customize an AML manual that will go a long way in establishing procedures to guide employees in their day-to-day operations and satisfy regulatory requirements.
Our team of experts can provide relevant training to employees that can throw light on risk profiling, identification of dubious transactions, and other aspects.
It is prudent to conduct the risk assessment of new customers through extensive evaluations before initiating any transactions. This will help in identifying potential problem areas for the business. GDT can provide accurate assessments of customers and suppliers, allowing businesses to make informed decisions on foreseeable risks. Based on the assessments, our AML experts advise clients on whether to proceed with the customer/supplier or to categorize them as LMH (Low, Medium, High).
