Restructuring a Business

Let our specialists help you prioritize issues and focus on the right path for fixing operational or financial issues and improving performance

Our multidisciplinary team of professionals is passionate about helping companies create and maintain an agile structure that can successfully navigate high-pressure events. Our restructuring process focuses on developing result-oriented solutions to safeguard and maximize value throughout all stages of a corporate crisis, from conception to implementation and monitoring. We employ an integrative approach, utilizing the expertise of our experienced professionals, with particular emphasis on using proven strategies for optimizing the company’s overall efficiency and success. This comprehensive method ensures our clients’ most effective outcomes and helps them build resilience within their organizations.

Restructuring Your Business

Working with companies, lenders, stakeholders, and all levels of management, our experts can assist in planning and executing turnaround, transformation, and restructuring measures that enhance cash flows, performance, profit and loss, and balance sheets.

Our restructuring experts can assist stressed and troubled organizations in stabilizing and implementing a process of strategic, operational, and financial transformation. The objective is to improve business performance and provide exceptional and lasting value for all stakeholders.

Independent, Strategic Business Reviews

Our approach to strategy review begins with setting the financial ambition for the company, which includes growth, cost efficiency, profitability, return on investment (ROI), and risk appetite.

We consider each element’s impact on the business and operating model before making a decision.

We take into account the company’s goals and objectives, as well as the current market conditions, before formulating a strategy.

We constantly monitor and review the strategy to ensure it is still relevant and feasible.

Turnaround and Restructuring of Businesses

Our operational restructuring services emphasize creating and implementing new business architectures, frequently within the context of turnaround events and change management.

This includes working with clients to assess their current situation, identify areas of opportunity or improvement, and develop and implement a plan to improve their overall performance.

In many cases, this also involves developing new organizational structures, business processes, and/or IT systems to support the new business architecture.

Our team has extensive experience in operational restructuring, from strategy development to implementation.

Management of Stakeholders and Negotiation

We provide our clients with an inclusive suite of services to help them quickly address and resolve critical company situations. Our process involves hands-on advice and implementation support to stabilize the situation, followed by thorough analysis and design, then precise execution and monitoring of the chosen solution.

Through our swift action and proven experience in these types of crisis management scenarios, we are able to provide answers in real-time that can help you mitigate risks, enhance operational effectiveness, and ultimately protect your bottom line.

During the stabilization process, we focus on understanding the scope of the issue and its potential implications. We then use our expertise to determine which strategies will be most effective given the current circumstances.

Our in-depth analyses go beyond simply uncovering problems – they reveal opportunities for improvement that can positively impact your operations over time.

Once we have identified an appropriate course of action, we move forward with an implementation tailored specifically to your company’s needs and goals.

From there, we continuously monitor performance metrics to ensure that our solutions have their desired effect while also responding promptly if any further action is needed or recommended.

Assistance and Discussion with Lenders

We assist lenders in conducting a rapid and dependable evaluation of the current situation so they can come up with an effective recovery strategy with a “Plan B” option.

Our team offers comprehensive guidance throughout the entire process, from the negotiation stage to the implementation phase.

We are well-versed in developing customized solutions for each unique case, helping lenders to overcome financial obstacles and achieve their objectives.

By leveraging our extensive experience and expertise, we can provide comprehensive support to lenders during their recovery journey, ensuring their success in any given scenario.

Investment and Refinancing

Through our approach, management can achieve greater transparency and trust with lenders, investors, and other stakeholders. This will ensure that any negotiations or agreements are based on accurate and reliable information.

Our solution enables management to gain control over their finances by providing them with detailed and up-to-date financial data which can be used to make informed decisions.

We also use analytics to identify potential risks and opportunities to improve the business’s performance and strengthen its position in negotiations with external parties.

Our approach helps increase trust between all stakeholders involved in the business, making sure that everyone is aware of the current financial situation and can plan accordingly for the future.

Strategy for Cash Management and Working Capital

We evaluate distressed investment opportunities and advise companies on managing supplier risks by thoroughly analyzing suppliers’ financial and operational situations. Our approach includes assessing viable options to reduce financial and supply chain risks and supporting the chosen plan’s implementation.

Our team of experienced professionals provides specialized expertise in analyzing potential investments, helping our clients make informed decisions about their investments.

We are committed to providing an unbiased analysis, using both qualitative and quantitative metrics to assess the health of a business, its market position, its outlook, and its overall financial stability.

By evaluating all available information and providing tailored advice, we ensure that our clients make well-informed decisions about their investments in distressed companies or businesses experiencing supplier risk.

Evaluation of Contingency Business Options

Analyzing the current financial situation of the client to understand their obligations, liabilities, and assets to determine the best approach for dissolving and liquidating operations

Assisting in devising a strategy to conform with applicable laws and regulations while minimizing associated costs and risks

Pursuing maximum values from asset sales by leveraging market trends, identifying potential buyers, and utilizing appropriate bidding processes

Leveraging expertise in corporate law to advise on all aspects of winding down operations, including compliance requirements, employee compensation issues, ceasing trading activities, etc.

Performance Optimization

Performance enhancement is essential in every business environment, especially in today’s competitive marketplaces. Companies must proactively invest in resources to expand, diversify, control costs, be efficient, and eventually grow. Our Performance Optimization professionals at ADEPTS collaborate with management to identify opportunities to improve daily operations that impact the bottom line and offer solutions that create sustained operational gains and measurable outcomes.

We employ extensive industry and sector knowledge to address both the financial and operational aspects that impact performance. Linking operational discoveries to financial performance and strategic positioning, ADEPTS is the industry leader. Our performance improvement team provides our clients with industry specialists and operations executives with hands-on experience, delivering financial, operational, and strategic solutions from a single source.

frequently asked questions

What is an example of a cost optimization initiative?

Cost optimization initiatives are designed to reduce costs while increasing the quality of services or products. Examples could include implementing new processes or technologies that allow for more efficient use of resources or reducing the number of vendors used to procure goods or services. Companies can also optimize their supply chains or look into alternative energy sources that reduce energy costs.

What is a balanced scorecard approach?

A balanced scorecard approach is a popular metric used by organizations to track performance across multiple dimensions. It helps measure short-term success (such as customer satisfaction) and longer-term goals (such as strategic vision).

What is involved in footprint optimization?

Footprint optimization is a process of analyzing the existing physical layout of an organization to optimize its operations for maximum efficiency. Through this process organizations may review their current space utilization strategies to determine if the allocated resources are being utilized effectively. This analysis may include optimizing the number of employees within certain areas or offices and reviewing facility size requirements to maximize space utilization while still achieving organizational goals.

Why Choose ADEPTS

Expertise and Experience

At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.

Tailored Solutions

Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.

Time and Cost Efficiency

By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.

Accuracy and Compliance

We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.

Dependable Service

Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

ADVISORY

services

ADVISORY

Expert Advisory Services to Propel Your Business Forward

In the dynamic realm of business, the right advice can be the difference between success and stagnation. Our advisors are dedicated to providing top-tier guidance across Deal Advisory, Legal Advisory, and Risk Advisory.

Deal Advisory

Unlock the potential of your business transactions with our Deal Advisory services. We specialize in guiding you through mergers, acquisitions, expansions, and restructurings with a keen eye for detail and a commitment to your long-term success. Our experts offer due diligence, valuation, and deal structuring to ensure every decision is informed and every investment pays off.

Risk Advisory

In a world of uncertainties, managing risk is paramount. Our Risk Advisory services are tailored to identify, evaluate, and mitigate the diverse risks your business faces. From financial and operational risks to cyber threats and compliance issues, we provide comprehensive strategies to protect your assets and reputation.

Legal Advisory

Navigate the complexities of the legal world with confidence. Our Legal Advisory services provide robust support for all your legal needs, from ensuring regulatory compliance to managing contracts and resolving disputes. We focus on protecting your interests and ensuring your operations run smoothly and efficiently.

Excise Tax Audit

Uncover your future. Identify and remediate Tax Compliance violations with an Excise Audit

Management of excise taxes and knowledge of possibilities to reduce their impact is essential for all businesses operating in affected industries. Businesses must devise effective methods to traverse the UAE’s rapidly evolving Excise Compliance landscape. A third-party expert’s Excise Audit is a smart approach to discover areas of potential future tax non-compliance that could hinder your operations. An Excise Audit identifies not only single occurrences of Tax Compliance violations but also chronic areas, as each violation of Tax Compliance results in a hefty fine.

A third-party expert’s Excise Audit is a smart approach to discover areas of potential future tax non-compliance that could hinder your operations. An Excise Audit identifies not only single occurrences of Tax Compliance violations but also chronic areas, as each violation of Tax Compliance results in a hefty fine.

What is an Excise Tax Audit?

An excise tax audit verifies a taxable person’s excise tax liability for a given Tax period. This is an evaluation to determine whether or not liabilities are recorded accurately and paid by the due date.

What is the scope of a UAE Excise Tax Audit?

The Excise Tax Authority may conduct Tax Audit whenever it finds it essential. The Tax Auditor can either visit the taxable person’s location or be invited to the FTA’s headquarters to conduct the Tax Audit.

Who is Subject to Audit?

The Federal Tax Administration will choose who should be audited and how frequently. A person registered for Excise tax or who is required to register for Excise tax may be audited at the authority’s discretion. It shall be determined by the Tax Auditor/FTA based on the anticipated risk of tax evasion or inaccuracies.

How would one be aware of the Excise Tax Audit?

Normally, FTA provides the taxable person with five days’ notice prior to a Tax Audit. In the case of suspected tax evasion, however, an unexpected visit from the tax auditor is always possible.

Process of Excise Tax Audit

During a Tax Audit, the Tax Auditor will examine the taxable person’s records, inventories, and premises, among other things, to determine the actual taxable situation of the taxable person. The Tax Auditor has the authority to take a copy or the original of the papers for further examination. In order to comprehend the business and confirm specific transactions, the tax auditor is permitted to speak with personnel from various company divisions, such as accounting, logistics, warehouse manager, etc.

Requirements for an Excise Tax Audit

A taxpayer subject to a Tax Audit must provide full cooperation and assistance to the Tax Auditor during the Tax Audit. Likewise, if the taxable individual has a tax agent or legal representative, he will also be accountable.

The Tax Auditor should be permitted to enter the taxable person’s premises.
The Tax Auditor should have access to all records and documents about the Excise Tax.
During a Tax Audit, the person responsible for preparing the Excise Tax Return must be present.

What do we do as External Auditors for you?

We will examine whether the documentation maintained for excisable products are under the UAE Excise Tax Law.
We will examine the Tax calculation sheet prepared by the Taxpayer to ensure no discrepancies.
We shall physically check and certify the inventory the Taxable Person maintains on a specific date. This will ensure the accuracy of the Excisable goods movement reconciliation.
We will ensure that the Taxable Person is prepared to face an upcoming Tax Audit.

What records must be kept following UAE Excise Tax?

A tax-paying individual is required to maintain nine records for Tax Audit.

Documentation of all manufactured, imported, and stocked Excise Goods
Documentation of exported Excise Goods Documentation of stock levels
Evidence of exported Excise Goods
Records of stock levels.
Specific documentation of lost or destroyed Excise Goods
Record of Tax Due for Imported Excise Goods
Tax Record for Produced Excise Goods with Due Tax
Tax Record for Due Tax on Excise Goods that have been stockpiled.
As evidence of deductible tax:
- Tax paid on exported Excise Goods.
- Tax paid on Excise Goods constituting another Taxable or Taxable Excise Good.
- Amounts paid in error to the Tax Authority.

frequently asked questions

What are the Tax Auditor's powers during an Excise tax audit?

Throughout a Tax Audit, the Tax Auditor may request the following:

Original records
Copies of documents.
Samples of a product

The preceding documents comprise invoices, a tax estimate sheet, etc.

What are a taxpayer's rights during an Excise Tax Audit?

During the course of the Tax Audit, you will be permitted to oversee the removal of documents by the Tax Auditor. If the Tax Auditor removes records or other materials in connection with the Tax Audit, he or she has the right to retrieve them following the assessment. The taxable person may request a receipt (documentary evidence) for the Tax Auditor's removal of any documents or samples.

What items are subject to the UAE Excise Tax law?

The UAE's Excise Tax law went into force on October 1, 2017. This law applies to tobacco and energy drinks at a rate of 100 percent and to carbonated drinks at a rate of 50 percent.

Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Excise Tax Health Check

Stay Compliant with Professional Excise Duty Pre-Audit Health Checks

Under the FTA, all registered organizations must determine if their excisable items are taxable and comply with tax duties. This is essential, as the government may contact you if they wish to conduct an excise duty audit. If FTA auditors discover noncompliance, the taxpayer may be subject to hefty fines.

What is Excise Tax Health Check in Dubai?

Since 2018, the UAE has imposed excise taxes on certain products. Under the FTA, all registered entities are expected to determine if their excisable items are taxable, file a monthly excise duty return. This is crucial to keep in mind, as the authorities may contact you if they need to conduct an excise duty audit. If FTA auditors discover noncompliance, the taxpayer may be subject to hefty penalties. In light of this, our tax consultants in Dubai will give you an expert excise duty pre-audit health check. By following these precautions, businesses can prevent future FTA penalties.

What is an Excise Duty Audit?

An excise audit is an examination and verification of the tax compliance of a registered legal organization. The purpose of the audit is to check that the taxpayer’s excise tax liability is accurate and has been paid on time.

Who Conducts Audit of Taxes in UAE?

The Federal Tax Authority (FTA) is the official regulatory authority in the country, able to conduct VAT/excise tax audits to examine businesses’ operations and tax compliance.

Why is a Pre Audit Tax Health Check Important?

A pre-audit health check is significant for all United Arab Emirates-based excise taxable businesses. This preliminary tax assessment evaluates potential tax difficulties. Identifies areas of noncompliance with excise duty rules and business risks. Before the auditor checks your excise records, you must correct any errors or omissions. We will perform a pre-audit review of your excise records to identify any potential issues.

How Does the FTA Determine if it will Conduct an Excise Audit?

The Federal Tax Authority identifies businesses for excise tax audits, but no particular criteria are specified. It is solely up to the FTA to choose what will be audited and at what periods. They can conduct a formal tax audit at any time and location.

The FTA sends the taxable firm a five-day notice of the excise duty inspection. However, when tax evasion is suspected, auditors make an unannounced visit to the business. They typically determine the location and time of the UAE’s excise duty inspections. Auditors may request originals or copies of your excise paperwork. Under the UAE Excise Procedure Law, they may also conduct a second audit if the company fails to meet its tax requirements in the first round.

How Should you Prepare for an Excise Audit?

The auditors will require pertinent information and documentation pertaining to your excisable goods. The following are the bare minimums for an excise audit in the UAE:

A summary of all excise items produced, imported and accumulated in the previous year
Export evidence and documentation of excise products
Monthly sales of excise items for the previous tax period, including bills
Excise items produced, imported, and discharged from specific zones
Tax records for all excise goods that have been damaged or lost
Accounting for excise duty payable on excise items imported, accumulated and manufactured
Details on the kind, amount, and monetary worth of excise items
Detailed information on excise products stock levels
Excise goods duty deduction registry

Our Excise Inspection Services Involve the Following Steps

When preparing your company for an excise audit in any emirate in the UAE, we will focus on the following critical areas:

We will check the excise returns you filed and correct any mistakes.
We will ensure that all excise duty entries are in accordance with FTA rules.
New ideas and recommendations for excise tax planning.
We will inspect your excise records for accuracy.
Recognize concerns about UAE tax compliance.
Provide proof on your behalf to FTA auditors.
Assist you with any future regulatory authority requests.
You can call us right now for our complete excise pre-screening health check service

frequently asked questions

Who must register for the Excise Tax Health Check?

Any business in the UAE whose total value of taxable supplies made within the UAE exceeded AED 375,000 threshold in the previous 12 months, or they expect to make taxable supplies with a value exceeding the mandatory registration threshold in the next 30 days must register for excise tax.

Who may apply for voluntary registration?

Any firm in the UAE may register if the total value of their taxable supplies or taxable expenditure in the preceding 12 months exceeded the voluntary registration threshold of AED 187,500, or they anticipate exceeding the voluntary registration threshold in the next 30 days.

Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Taxation

services

Taxation

Navigating the complex world of taxes can be a daunting task for businesses of all sizes. Our team of tax professionals is here to guide you through every step, providing personalised and strategic tax solutions that meet your unique needs. With expertise in Corporate Tax, Value Added Tax (VAT), and Excise Tax, we're equipped to handle all aspects of your taxation requirements

Corporate Tax

Our corporate tax services are designed to ensure your business complies with all local and international tax laws while optimizing your tax position. We provide thorough tax planning strategies, assist with compliance obligations, and offer advisory services tailored to your industry, whether you're a start-up or a multinational corporation.

Excise Tax

Understanding excise tax is essential for businesses dealing with specific goods and services. Our experts help you comply with the latest regulations, calculate duties correctly, and advise on how to minimize liabilities, so you can focus on what you do best.

Value Added Tax

VAT management is crucial for maintaining financial efficiency and compliance. Our VAT services include assistance with registration, accurate filing, and strategic planning to navigate cross-border transactions and reclaim opportunities, ensuring you understand and meet your VAT obligations

Tax Agency Services

Stay one step ahead with our FTA-approved tax agency services

Stay one step ahead with our FTA-approved tax agency services with a team of tax experts having extensive experience and knowledge about VAT laws and regulations.

We take pride in being counted as pioneer tax agents for a diverse pool of satisfied clients across the UAE. Our premium services are distinguished by helping our clients streamline financial management and tax filing to save time and money and prevent errors.

Adepts Chartered Accountants, a professional accounting and audit firm, has been led by authorized and well-experienced chartered accountants in Abu Dhabi and Dubai for almost 15 years. From Business Advisory Services to Tax Auditing, our firm offers various services to clients.

What is a Tax Agency Service?

An agency that is responsible for helping a client or a business in the payment of taxes to the government, exercising their tax rights, and is appointed to represent them before the authority is referred to as a Tax agency.

By appointing a Tax Agency, clients don’t have to worry about tax compliance burdens, and they can focus on business growth and expansion. It will not be always possible for clients to run the business and also look after all the statutory compliance and that is why you may need a Tax Agency Service for your business.

Why should you hire a Tax Agency?

It is advised to hire a tax agency for every business as the complicated tax procedures may not be easy for you to digest. Appointing FTA-approved tax agency will add more advantages to the operational outcome of your business. Hiring a Tax Agency for your business may also be important because:

A tax agent will represent you in the Federal tax authority
A tax agent will embark on all obligations on taxation
A tax agent will notify you of all your tax proceedings
A tax agent will help you with the best tax planning for the effective outcome of your business
A tax agent will settle any tax disputes with the authority

Benefits of hiring our Tax Agency?

There are several benefits of hiring our Tax Agency Service. Our experienced Tax experts assist our clients with their taxation procedures. Our Tax Agents can be legal representatives for your company before the FTA, assist in any communication with the FTA, assist in providing documents in Arabic during a VAT Audit, and help in avoiding any unpredictable fine by giving the right advice as per the laws and regulations.

We also provide a smooth follow-up channel with the FTA and ensure that refunds and other tax matters are handled professionally and promptly.

In addition to all these benefits, our Tax Agency provides several other benefits to our clients like:

Assistance in VAT registration
Preparation, compliance, and filing of VAT returns on your business's behalf.
Supervision of all records and documents associated with tax transactions.
Association with FTA for all tax-related problems.
The assistance of FTA on your organization's behalf at the time of tax audit.
Assistance in the proposal for a reconsideration of VAT.
Assistance in de-registration of VAT.

What Services do we offer?

We are FTA-approved tax agent and our tax experts have extensive knowledge and understanding of VAT laws and regulations. We can support our clients in the:

VAT Advisory and Tax Agency services
VAT registration
VAT deregistration
VAT Return Filing
Tax Audit
VAT Implementation
Tax Refunds
Voluntary disclosure
Re-consideration application for waiver of VAT-related fines

Our Execution

Consultation

Our expert tax agents will analyze the issues and build the strength of your case.

Advisory

The next step is to advise you on options available for your particular case and prepare the documentation

Representation

Our tax agents will liaise directly with the FTA and provide you with regular updates to keep you informed.

frequently asked questions

Why should you appoint our Tax Agency?

Our FTA-approved Tax Agency, with several well experienced tax experts, try to exceed our clients' expectations. Our tax agency helps in avoiding any unexpected penalty or damages by providing the proper guidance as per the laws and regulations.

How long will the process take for the Reconsideration Form?

Once the application has been submitted, the FTA may take around 20 business days to respond.

How do I know if the tax agency is FTA-approved or not?

Every tax agency in UAE registered with FTA is mentioned on their official website
https://www.tax.gov.ae/.

Can a tax agent in UAE represent you in case of a tax audit from FTA?

One of the preliminary obligations of our tax agency is to represent, on behalf of our clients, before the FTA during an audit conducted by the FTA. This allows our clients to be free from any stress and focus on their business and ways to expand it.

Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

VAT Health check in UAE

VAT health check in UAE ensures VAT compliance with FTA legislation

Maintain Your Business Efficiency

VAT health check in UAE ensures VAT compliance with FTA legislation. VAT in the UAE is a complex subject affecting every business aspect. To operate efficiently in the UAE, businesses must maintain VAT compliance to avoid fines and penalties from the Federal Tax Authority.

What is VAT Health Check

VAT is a fairly simple tax system. As a self-assessed tax, however, it is not uncommon for mistakes or inaccuracies to be performed. Unfortunately, many businesses do not discover these mistakes until the tax authorities audit them. This can result in legal actions, fines, and penalties against the company, which can be damaging. The bigger the amount of VAT-related transactions, the higher the probability of such undesirable outcomes.

Benefits of VAT Health Check

The advantages of conducting a VAT health check with ADEPTS are:

Evaluation of present status and enhancement strategies
Prevention of judicial proceedings, fines, or penalties against the entity
Identifying strategies to reduce tax liability while being compliant with VAT Law
Obtain prompt and merited VAT reimbursements from the tax authorities by recommending recovery enhancements.
Identifying areas for policy and system enhancements
Verify that VAT schemes are being utilized and implemented effectively.
Ease while we assist you through your VAT issues
Being ready for Tax Audits by FTA

Process of VAT Health Check

At ADEPTS, we offer a comprehensive VAT health check service that can help you assess, identify and address any potential issues before they become too problematic for your organization. Our inspection process starts with a visit from one of our specialists to your office, where they will undertake in-depth analysis and review of your accounting practices and system.

This evaluation allows us to determine the current state of the data and transactions as well as detect any inaccuracies or inconsistencies. The review will thoroughly examine the source data, audited financial statements, the accounting system, sample invoice verifications, and other checks to establish whether everything is accurate or not.

Why is UAE VAT Health Check Necessary

In the United Arab Emirates, VAT returns must be submitted precisely following all applicable laws and Executive Regulations. The Federal Tax Authority (FTA) has the authority to audit any tax registrant to guarantee compliance with VAT regulations and laws.

To verify that tax records, procedures, and reporting are in accordance with UAE VAT regulations, a registrant must complete a Tax Health Check to identify areas in which compliance and controls must be tightened to prevent future errors.

FTA may initiate an audit after notifying the registrant by notice. Based on the company’s industry classification and local business practices, the registrant cannot determine the scope of FTA’s review and the amount of scrutiny. The only proactive strategy is to do a Tax Health Check before the audit and ensure that compliances are followed and that appropriate procedures are in place to flag any non-compliance should it occur.

VAT Transaction Analysis in UAE

The applicable VAT rate relies on the transaction/trade conducted by the registrant or prospective registrant. A comparison of transaction situations to existing tax rules would ensure correct tax application and eliminate the possibility of error and non-compliance

Adepts tax experts are well-versed in the UAE VAT legislation and have experience in a variety of industry verticals, enabling them to provide precise tax advice on transaction operations.

VAT Requirements in UAE

A rapid examination of compliance helps ensure that the focus is directed on critical areas of VAT implications and fast corrective actions can be performed. ADEPTS Tax Consultants are qualified to conduct a rapid Compliance check where, based on industry and experience, they will concentrate on error-prone areas and recommend corrections.

UAE VAT Impact Analysis

Non-compliance can result in administrative penalties, and any corrective action will also result in administrative penalties from the FTA. For example, any non-compliance found can be remedied by making a Voluntary disclosure (VD). Any discovery or hint of non-compliance must be immediately followed by an Impact Analysis to determine the effect on the company’s cash flow.

frequently asked questions

What is the UAE VAT Health Check?

VAT Health Check is a comprehensive examination of an entity's compliance with UAE Federal Tax Authority regulations (FTA). It is also known as VAT Due Diligence, VAT Compliance Review, and VAT Pre-Audit Review.

What are the purpose and benefits of the UAE VAT Health Check?

The primary aim of a VAT Health Check is to:

Ensure compliance with the UAE VAT law and relevant FTA requirements.
Ensure the effectiveness of a tax-registered entity's applied controls
Gain confidence that non-compliance is identified
Take corrective measures and comply fully with UAE VAT law.
Prepare the company for any FTA audits and answer any FTA-related questions.
Noncompliances found before FTA review are exempt from hefty fines.

How long does a UAE VAT Health Check last?

Typically, a health examination can last between one and four weeks. However, it depends on following aspects.

Size of the business
The complexity of the entity's transactions – based on its industry or geographic presence
Types and quantity of intercompany transactions within the same business group (not tax group)
Volume of transactions

Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Value Added Tax

services

Value Added Tax

VAT Health Check

Stay one step ahead with our FTA-approved tax agency services.

Tax Agency Services

Stay one step ahead with our FTA-approved tax agency services.

Excise Tax Compliance Review

Maintain Excise Compliance: Ensure Proper Filing and Avoid Penalties for Noncompliance

Excise duty is charged to people who sell goods that are unsafe for the environment or for people’s health. These businesses must adhere to the UAE excise duty requirements, which include registration, declaration filing, and voluntary disclosures, among others. However, the Federal Tax Authority is continually revising UAE excise duty compliance reporting requirements. Companies realize the significance of proper implementation of excise duty laws and regulations for this reason. Our tax advisors in Dubai and Abu Dhabi will assist you in adjusting to the evolving FTA regulatory landscape.

UAE Excise Duty Regulations

According to Federal Decree-Law No. 7 of 2017, businesses that trade in excisable commodities in any emirate are required to register. This includes e-cigarettes, tobacco, carbonated beverages, and energy drinks, among others. Under the terms of the FTA, all taxable entities are required to comply with the UAE’s excise duty regime. The government continuously revises the tax system to remain ahead of the game. To ensure compliance with UAE tax regulations, FTA auditors will review your excise tax records at any time for accuracy and conformity.

What is the Significance of Excise Compliance?

Excise compliance verifies that your excise records conform to your local tax requirements. The Federal Tax Authority is responsible for tax collection and assessment in the United Arab Emirates. According to the tax period, the relevant regulatory agencies will review your excise tax registration, returns, and filings. You will be exempted from FTA noncompliance fines if you handle excisable items properly.

The Main Purpose of Excise Compliance

The primary purpose of excise tax compliance in the UAE is to protect company bank accounts from hefty FTA fines. An organization that fails to comply with excise duty requirements will be subject to penalties imposed by the governing tax body. They are imposed for inaccurate registration, late declaration filing, submission of invalid documents, and other information. The FTA imposes severe penalties for noncompliance with excise duty regulations. Therefore, it is recommended to use competent consultants to provide excise duty services in the UAE that guarantees all compliance requirements are met.

Why is Compliance Challenging for Businesses in the UAE?

To encourage investors, the tax authorities in the UAE are continually revising laws and regulations. The UAE government took this action to combat global commercial competitiveness. But this makes it more difficult for businesses to comply with tax regulations. Businesses are uncertain when to register, whether they exceed the threshold, how frequently they must file an excise tax report in the UAE, etc. This is because yesterday’s compliance with excise duty may differ from today’s. For a successful application for excise duty, FTA guidelines must always be maintained.

ADEPTS Excise Compliance Service Process

Excise compliance in the UAE is a crucial process that has undergone substantial adjustments to secure the country from the detrimental consequences of excisable items. When managing your compliance with excise taxes, our tax advisers emphasize a variety of things. Let's analyze our excise compliance services, which include the following

Conducting an Excise Duty Evaluation

The procedure of determining the value of products subject to excise duty. It includes determining the amount of excise duty based on the rate of excise duty. Valuation is essential since even a little calculation error can result in the loss of tax records. Expert excise consultants from ADEPTS process and calculate the amount of tax owed to the government with precision, leaving no opportunity for error. Individuals and corporations receive specialized support to help them comply with excise duty regulations.

On-Time Submission of Excise Reports

Each tax period requires the accurate filing of tax returns with the FTA. A registered legal entity that fails to file an excise duty return on time is subject to both fines and reputation loss. Our tax consultants ensure that your tax returns are filed accurately and on time. To ensure the transparency of excise items, we include your statutory declarations with your returns.

Adjustments to your Excise Duty Record

To prevent FTA fines, excise duty records must be up-to-date and correct. Poor records of excise duty can make it difficult for businesses to register for excise duty, submit declarations, and receive refunds. Consult our tax specialists in Dubai and Abu Dhabi if you find yourself in a similar dilemma. Our team can propose required adjustments to your records in conformity with UAE tax regulations, so take advantage of our premier excise services.

Ensured Compliance and Regulatory Adherence

Internal audit ensures that organizations comply with applicable laws, regulations, and industry standards. By reviewing compliance processes and controls, internal auditors identify any non-compliance issues and provide recommendations for rectification.

Insights on Excise Tax

To guarantee compliance with UAE excise duty legislation, each taxpayer must remain informed of any changes made by the authority. Due to a lack of knowledge and time, this may appear excessively hard to a businessperson. Our tax advisors keep you well-informed of the latest excise clarifications and updates from the Federal Tax Authority. We assist businesses with their complicated tax concerns and procedures.

Why Choose ADEPTS

ADEPTS Chartered Accountants LLC is a premier accounting and bookkeeping firm in UAE, offering reliable services to manage income and expenditure, as well as helping clients to adhere to International Financial Reporting Standards (IFRS). Our team of professional financial advisors provides cost-effective solutions to meet long-term goals with exceptional accuracy and precision.

Comprehensive review

Our team conducts a thorough and comprehensive review of your excise tax compliance, covering all aspects of excise tax regulations and requirements.

Customized solutions

We provide tailored solutions to address any issues or gaps identified during the compliance review, based on your specific business needs.

Experienced team

Our team of experts has extensive experience in excise tax compliance and can help you navigate complex regulations with ease.

Avoid penalties

By identifying and addressing compliance issues proactively, our service can help you avoid costly penalties and fines.

Peace of mind

With our compliance review service, you can have peace of mind knowing that your excise tax compliance is up to date and in line with regulations.

Excise Tax

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Excise Tax

Excise Tax Health Check

Excise Tax Audit

Uncover your future. Identify and remediate Tax Compliance violations with an Excise Audit

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Excise Tax Audit

What is an Excise Tax Audit?

What is the scope of a UAE Excise Tax Audit?

Who is Subject to Audit?

How would one be aware of the Excise Tax Audit?

Process of Excise Tax Audit

Requirements for an Excise Tax Audit

What do we do as External Auditors for you?

What records must be kept following UAE Excise Tax?

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Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

Excise Tax Health Check

What is Excise Tax Health Check in Dubai?

What is an Excise Duty Audit?

Who Conducts Audit of Taxes in UAE?

Why is a Pre Audit Tax Health Check Important?

How Does the FTA Determine if it will Conduct an Excise Audit?

How Should you Prepare for an Excise Audit?

Our Excise Inspection Services Involve the Following Steps

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Benefits of hiring our Tax Agency?

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Why Choose ADEPTS

Expertise and Experience

Tailored Solutions

Time and Cost Efficiency

Accuracy and Compliance

Dependable Service

VAT Health check in UAE

Maintain Your Business Efficiency

What is VAT Health Check

Benefits of VAT Health Check

Process of VAT Health Check