COMPLIANCE

The UAE is a progressive country with plenty of attractions and perks for existing businesses and emerging entrepreneurs!

Dealing with tax and related services is a complex process. We have a full-service international tax practice and advise on all areas of tax including M&A (tax structuring, due diligence), corporate tax and VAT along with assistance in litigations.

• Transaction advisory in form of assistance in pre/ post audit support to companies
• Identifying risks, areas of exposure / non-compliance during the audit
• Advising on post audit requirements in terms of liaising with the Authorities.

We ensure continuous support to companies in preparation, review and filing of VAT returns across the GCC countries which involves the following key steps:

• Evaluation of sales and purchase registers and invoices
• Review of financial information
• Review of VAT return working
• Assistance in filing VAT return.

Due to the evolving nature of the VAT legislation, we advise companies on matters which are complex and do not have specific guidance from the Federal tax authorities. This involves:

• Undertaking technical research including review of laws applicable in other tax jurisdictions. 
• Providing assistance in drafting and submitting VAT Public Clarifications / VAT Ruling requests with the Authorities.
• Assistance in filling Representation services on behalf of the clients through our group entity

We at FAME Advisory support companies by providing tax specialists (i.e., outsourcing, co-sourcing, deputation, etc.) so that the company has to only focus on its core operations while tax compliances are handled by our professionals.

We assist in undertaking the following:

• Recommending whether refund applications should be filed or excess input tax should be carried forward to subsequent tax return
• Drafting refund applications and assistance in submission (including review of refund related documents)
• Assisting in answering queries raised by the Authorities during the review of the claim request.

We undertake the following key steps:

• Review of all business transactions in relation to the tax policy;
• Review of all business processes;
• Review of reports generated and identification of any additional requirement;
• Documentation review in terms of contract review, invoices review, etc.

FAME Advisory with its rich experience in the relevant sectors has been consulting clients across the UAE, especially whose operations are subject to the implementation of Anti Money Laundering programs. 

With all-encompassing understanding and diversified involvement, our Chartered Accountants, business consultants and industry specialists are proficient in understanding the risk and provide remedial actions and policies to companies that are struggling to comply with AML and CFT law in different countries.

Complying with local and international AML regulation is mandatory for organizations that fall under its preview. Following are the services that we offer related to Anti-Money Laundering (AML):

• Assisting in preparation of AML Manual 
• Assistance in the GoAML Reporting for the Designated Sectors  
• Suggesting the AML Compliance Policy and procedures
• Timely due diligence frameworks and process implementations