Liquidation strategies to deal with the debts

liquidation

Just presume, your company is badly debt-ridden, and you need to liquidate all the resources into cash. RBS auditing has the best Liquidation Services in Dubai. There are several reasons why a company needs to get liquidated to reimburse the debt to the bank from which the company needed the loan, creditors, or lending companies. The process of liquidation includes the selling of all the company’s possessed items, such as products, land, raw materials, machinery, and another commodity that can be sold out or auctioned whereas some items are purchased by the buyers.

liquidation Services
liquidation Services

Company liquidation is of two types-

 

Voluntary Liquidation/ compulsory liquidation

Liquidation by court

 

Voluntary liquidation is the shutting down of companies by shareholders or creditors of the company who passes the legal resolution. During the meetings of shareholders, an official liquidator is appointed, who is responsible for the winding up of the company, and such liquidation is also called compulsory liquidation.

Employees are considered the primary creditors. The pending dues of the employees are cleared.

 

Sometimes the company files a petition for liquidation to the court by itself, when it gets failed financially, or is unable to pay off its pending dues.

 

According to the UAE Freezone Company Liquidation service, a company in a good state will not get subjected to the liquidation process. Whereas, if a company cannot show proper growth and is not capable of paying off debts, then only the creditors can take action against the company.

 

Perks of Liquidation services:

  • Liquidation happens to the company, not the people of the company.
  • Creditors are not allowed to chase directors of the company after the company is liquidated.
  • Once the company is liquidated all the legal disputes against the company come to an end.
  • The liquidation management sanctioned the chosen liquidator.

 

If you are interested in our services for liquidation, please feel free to contact our customer care for further details regarding these services. In addition to these programs, our company also offers UAE Freezone Company Formation. RBS is one of the top leading service providers in terms of tax and advisory, accounting, audit services. Our company possesses the personality of a small firm but has the caliber of big firms. Our team has a long-term experience in accounting, taxation, business advisory services, auditing, the management consultancy. Our team consists of skilled individuals who are smart enough to manage the risk of the clients and more.

 

 

 

Why choose RBS auditing for Excise Tax consultancy?

Excise_Tax

Are you wondering about outsourcing your food and beverage business to Dubai, UAE but are not familiar with the rules and regulations regarding the tax? Here is everything you need to know about the Excise Tax Registration and Return Filing services in UAE. Initially, on 1st October 2017, the excise tax was applicable only on specific goods according to the Excise Tax Federal Decree-Law No. (7) of 2017, but after two years in 2019, a few more goods got added to the list of excise tax products.

 

The products which are entitled to Excise tax include –

 

  • Carbonated drinks
  • liquids used in electronic smoking devices and tools
  • Sweetened drinks
  • Tobacco and tobacco products
  • Energy drinks
  • Electronic smoking devices and tools
  • Carbonated drinks

 

What is the procedure for registering for excise tax?

  1. Create and verify your e-service account with the FTA portal. For creating the account, you need to sign up with your email address.
  2. Once you log in to your account, try to understand the symbols and icons given on the registration form.
  3. To initiate the excise tax registration form, click on the confirm button.
  4. Now fill in the required details on the registration form, deregistration application, and amendment forms with correct answers.
  5. After ensuring that all the details are correct, click on the submit button.

 

The excise tax services provided by our company include Excise tax audit, advice on stockpilers, excise tax registration and deregistration, excise tax stock audit at the year-end, advice on stock/ inventory counting, and duty calculation, determining implication, scope, applicability-impact, and applicability analysis.

 

If you have gone through all the services mentioned above, and think that these services can be helpful to you, then please don’t forget to visit our website for some more details, or you can contact our service provider, who is available round the clock to solve all your issues regarding these services. RBS auditing is one of the best Accounting Firms in Dubai, which provides all these services in a very cost-effective manner.

Top 10 Accounting Firms in the US

 

Our strength in excise tax consultancy in UAE –

We are the top financial advisers in the UAE because of our extensive expertise in these accounting and tax advising services. With years of expertise, we have improved and strengthened our excise tax consultancy services in Dubai, overcoming several of our shortcomings:

  • We adhere to the guidelines established by the Financial Tax Authority (FTA).
  • We promise to be accessible to our clients around the clock.
  • We give you thorough advice on complying with excise laws.
  • We compute, keep track of, and reconcile data, invoices, and transactions.
  • We offer a qualified staff of auditors and tax experts with expertise.
  • Our tax reports are meticulously organized following the UAE excise legislation.
  • We look after the assets of your business and guard you against costly penalties.
  • In the United Arab Emirates, we are registered in all reputable free zones.

 

We offer a full range of excise tax services, including planning, consulting, training, and registration. Contact us right now for more details about our consultancy services regarding excise taxes in the UAE.

 

 

 

How do you pick the Best Auditor for your company?

Auditor

An audit is comparable to yearly physicals. You probably don’t look forward to having one, but in the long run, you must do so for you to function properly. You must lay the groundwork before selecting Auditors in Dubai for your business to identify the ideal fusion of skills, experience, compatibility, and several other attributes. You place a high value on your business, so how could you possibly ignore your finances? Let’s examine ways to locate the ideal auditor for your business.

Appointment of Auditors - Earendil Business Services

  1. Seek a qualified firm: Make sure the auditors and the firm are qualified to manage the financial reports for your organization before selecting any auditor. To be qualified, a company or individual must have years of experience, be a member of the community, and have approved and authorized status. Your initial lead examination should focus on whether the accomplice satisfies the requirements that an auditor should have.
  2. Meet in person: Always meet in person with the auditors who will be working with your business. A face-to-face encounter would provide a foundation for mutual understanding, make communication easier, and enable you to interact successfully throughout additional sittings. This will guarantee the company’s cultural fit with both you and your business.
  3. One-stop solution provider: It is always advised to work with an accounting & auditing firm that offers a wider range of services, such as Auditing, Accounting, Taxation, Legal, and Consultancy when it comes to handling your private financial data because they can give you all the services you require as a one-stop shop and offer trustworthy and high-quality solutions. As your staff gained knowledge from professionals, it saves you time, and energy, and increases productivity.
  4. Look for the feedback: Some of the sources that will show you the reliability and caliber of the job done by the organization include its market reputation, the institutions with which it is linked, and client testimonials. Above all, these sources will assist you in reference checking when necessary.

 

Choose RBS auditing as your auditor and accountant-

RBS Auditing is a certified auditing and accounting business and a Federal Tax Authority of UAE-approved tax agency. With our auditing, accounting, company finance, VAT, and consulting services, we provide you with a one-stop shop for all of your business needs. Our clients have praised RBS as one of the best and most effective audit firms in the UAE. Our audits have been able to identify any tax errors made by businesses and assist them in maintaining compliance with the tax laws. We also offer UAE Freezone Company Liquidation to all varieties of enterprises.

 

Finding the ideal auditor may seem difficult, but the more time you spend doing so will result in a stronger connection and better audit outcomes.

 

Dive In for Business valuation safely with RBS auditing

business-valuation

Starting a new business is not only dependent on the money that you have invested, but the structure of your business defines your aims. If you choose the wrong shape for your business, it will only lead you to risks. Our company RBS Auditing offers Business Valuation Services in Dubai to help you grasp the exact worth of your company. Some key factors, such as assets, liabilities, management, market, etc., are crucial to determining the company’s position and help in the decision-making to discover the best advantages.

 

What Exactly Is Business Valuation?

 

The valuation of any business is significant to understand the current value of that business keeping various factors in mind, such as the management, assets, liabilities, income, and the position of that company. Undergoing the Business Valuation Services in UAE would become easy for the stakeholders to make remarkable decisions for the company if they are aware of the value of that company.

 

Perks of Business Valuation-

 

Business valuation can be profitable for you in several ways,

  1. Business valuation improves the goodwill of the company as per the market environment.
  2. It attracts investors to the company by increasing its exact value.
  3. The current valuation help in discovering the basic details of the company’s assets and liabilities. Hence, you would be able to restructure the company according to you.
  4. The valuation of your company help in making long-term decisions regarding business diversification.
  5. The high value of your company helps in building trust by making it easy for you to take loans in the future.

Business Valuation : Key Drivers of a Business Valuation

The valuation of any business is due to various reasons given below-

 

  • Goodwill Deterioration
  • Mergers or purchases
  • Reorganization and Bankruptcies
  • Shareholders oppression cases
  • Funding or financing
  • Litigation and ownership disputes
  • Business Planning
  • Buy or Sell contracts

There are also various tools and programs provided by our company to help you make varied smart decisions for expanding your business, such as Comparative Financial ratio analysis, Ratio analysis, and analysis of going concern concept.

 

If you are also looking for your business valuation, and have found our services to the point, then please feel free to visit our website for further details, or else you can also contact our customer care available round the clock to solve all your queries regarding our services. Our company also delivers Business Consultancy Services Dubai. If you need more details and help regarding these services then ping us. We are here to serve all your need for these services.

 

Liquidation Strategies to deal with the Debts

Liquidation-Service-in-Dubai-UAE

Just presume, your company is badly debt-ridden, and you need to liquidate all the resources into cash. RBS auditing has the best Liquidation Services in Dubai. There are several reasons why a company needs to get liquidated to reimburse the debt to the bank from which the company needed the loan, creditors, or lending companies. The process of liquidation includes the selling of all the company’s possessed items, such as products, land, raw materials, machinery, and another commodity that can be sold out or auctioned whereas some items are purchased by the buyers.

 

Company liquidation is of two types-

 

Voluntary Liquidation/ compulsory liquidation

Liquidation by court

 

Voluntary liquidation is the shutting down of companies by shareholders or creditors of the company who passes the legal resolution. During the meetings of shareholders, an official liquidator is appointed, who is responsible for the winding up of the company, and such liquidation is also called compulsory liquidation.

Formation of a company » Meaning of Accounting in Simple Words

Employees are considered the primary creditors. The pending dues of the employees are cleared.

 

Sometimes the company files a petition for liquidation to the court by itself, when it gets failed financially, or is unable to pay off its pending dues.

 

According to the UAE Freezone Company Liquidation service, a company in a good state will not get subjected to the liquidation process. Whereas, if a company cannot show proper growth and is not capable of paying off debts, then only the creditors can take action against the company.

 

Perks of Liquidation services:

  • Liquidation happens to the company, not the people of the company.
  • Creditors are not allowed to chase directors of the company after the company is liquidated.
  • Once the company is liquidated all the legal disputes against the company come to an end.
  • The liquidation management sanctioned the chosen liquidator.

 

If you are interested in our services for liquidation, please feel free to contact our customer care for further details regarding these services. In addition to these programs, our company also offers UAE Freezone Company Formation. RBS is one of the top leading service providers in terms of tax and advisory, accounting, audit services. Our company possesses the personality of a small firm but has the caliber of big firms. Our team has a long-term experience in accounting, taxation, business advisory services, auditing, the management consultancy. Our team consists of skilled individuals who are smart enough to manage the risk of the clients and more.

 

 

 

Dive In for Business valuation safely with RBS auditing

business valuation

Starting a new business is not only dependent on the money that you have invested, but the structure of your business defines your aims. If you choose the wrong shape for your business, it will only lead you to risks. Our company RBS Auditing offers Business Valuation Services in Dubai and Abu Dhabi to help you grasp the exact worth of your company. Some key factors, such as assets, liabilities, management, market, etc., are crucial to determining the company’s position and help in the decision-making to discover the best advantages. 

Business Valuation Services in Dubai, UAE

What Exactly Is Business Valuation?

The valuation of any business is significant to understand the current value of that business keeping various factors in mind, such as the management, assets, liabilities, income, and the position of that company. Undergoing the Business Valuation Services in UAE would become easy for the stakeholders to make remarkable decisions for the company if they are aware of the value of that company. 

Perks of Business Valuation-

Business valuation can be profitable for you in several ways, 

Business Valuation Services in Dubai & UAE | Business Valuation Company

  1. Business valuation improves the goodwill of the company as per the market environment.
  2. It attracts investors to the company by increasing its exact value.
  3. The current valuation help in discovering the basic details of the company’s assets and liabilities. Hence, you would be able to restructure the company according to you.
  4. The valuation of your company help in making long-term decisions regarding business diversification.
  5. The high value of your company helps in building trust by making it easy for you to take loans in the future.

The valuation of any business is due to various reasons given below-

 

  • Goodwill Deterioration
  • Mergers or purchases
  • Reorganization and Bankruptcies
  • Shareholders oppression cases
  • Funding or financing
  • Litigation and ownership disputes
  • Business Planning
  • Buy or Sell contracts

There are also various tools and programs provided by our company to help you make varied smart decisions for expanding your business, such as Comparative Financial ratio analysis, Ratio analysis, and analysis of going concern concept.

If you are also looking for your business valuation, and have found our services to the point, then please feel free to visit our website for further details, or else you can also contact our customer care available round the clock to solve all your queries regarding our services. Our company also delivers Business Consultancy Services in Dubai, Abu Dhabi and Sharjah. If you need more details and help regarding these services then ping us. We are here to serve all your need for these services.

Liquidation strategies to deal with the debts

Company Liquidation

Just presume, your company is badly debt-ridden, and you need to liquidate all the resources into cash. RBS auditing has the best Liquidation Services in Dubai. There are several reasons why a company needs to get liquidated to reimburse the debt to the bank from which the company needed the loan, creditors, or lending companies. The process of liquidation includes the selling of all the company’s possessed items, such as products, land, raw materials, machinery, and another commodity that can be sold out or auctioned whereas some items are purchased by the buyers.

Company Liquidation in Dubai | Company Liquidation Audit Report UAE

Company liquidation is of two types-

Voluntary Liquidation/ compulsory liquidation

Liquidation by court

Voluntary liquidation is the shutting down of companies by shareholders or creditors of the company who passes the legal resolution. During the meetings of shareholders, an official liquidator is appointed, who is responsible for the winding up of the company, and such liquidation is also called compulsory liquidation. 

Employees are considered the primary creditors. The pending dues of the employees are cleared.

Sometimes the company files a petition for liquidation to the court by itself, when it gets failed financially, or is unable to pay off its pending dues. 

According to the UAE Freezone Company Liquidation service, a company in a good state will not get subjected to the liquidation process. Whereas, if a company cannot show proper growth and is not capable of paying off debts, then only the creditors can take action against the company.

Perks of Liquidation services:

  • Liquidation happens to the company, not the people of the company.
  • Creditors are not allowed to chase directors of the company after the company is liquidated.
  • Once the company is liquidated all the legal disputes against the company come to an end.
  • The liquidation management sanctioned the chosen liquidator.

If you are interested in our services for liquidation, please feel free to contact our customer care for further details regarding these services. In addition to these programs, our company also offers UAE Freezone Company Formation. RBS is one of the top leading service providers in terms of tax and advisory, accounting, audit services. Our company possesses the personality of a small firm but has the caliber of big firms. Our team has a long-term experience in accounting, taxation, business advisory services, auditing, the management consultancy. Our team consists of skilled individuals who are smart enough to manage the risk of the clients and more.

Freezone Company Formation | Start Any Business UAE

How do you pick the best auditor for your company?

audit

An audit is comparable to yearly physicals. You probably don’t look forward to having one, but in the long run, you must do so for you to function properly. You must lay the groundwork before selecting Auditors in Dubai for your business to identify the ideal fusion of skills, experience, compatibility, and several other attributes. You place a high value on your business, so how could you possibly ignore your finances? Let’s examine ways to locate the ideal auditor for your business.

Auditors
Auditors
  1. Seek a qualified firm: Make sure the auditors and the firm are qualified to manage the financial reports for your organization before selecting any auditor. To be qualified, a company or individual must have years of experience, be a member of the community, and have approved and authorized status. Your initial lead examination should focus on whether the accomplice satisfies the requirements that an auditor should have.
  2. Meet in person: Always meet in person with the auditors who will be working with your business. A face-to-face encounter would provide a foundation for mutual understanding, make communication easier, and enable you to interact successfully throughout additional sittings. This will guarantee the company’s cultural fit with both you and your business.
  3. One-stop solution provider: It is always advised to work with an accounting & auditing firm that offers a wider range of services, such as Auditing, Accounting, Taxation, Legal, and Consultancy when it comes to handling your private financial data because they can give you all the services you require as a one-stop shop and offer trustworthy and high-quality solutions. As your staff gained knowledge from professionals, it saves you time, and energy, and increases productivity.
  4. Look for the feedback: Some of the sources that will show you the reliability and caliber of the job done by the organization include its market reputation, the institutions with which it is linked, and client testimonials. Above all, these sources will assist you in reference checking when necessary.

 

Choose RBS auditing as your auditor and accountant-

RBS Auditing is a certified auditing and accounting business and a Federal Tax Authority of UAE-approved tax agency. With our auditing, accounting, company finance, VAT, and consulting services, we provide you with a one-stop shop for all of your business needs. Our clients have praised RBS as one of the best and most effective audit firms in the UAE. Our audits have been able to identify any tax errors made by businesses and assist them in maintaining compliance with the tax laws. We also offer UAE Freezone Company Liquidation to all varieties of enterprises.

Company Liquidation
Company Liquidation

Finding the ideal auditor may seem difficult, but the more time you spend doing so will result in a stronger connection and better audit outcomes.

 

Federal Decree- Law No. (18) of 2022 (‘’the Amendment of VAT Law w.e.f January 01, 2023’’)

VAT

Federal Decree- Law No. (18) of 2022 (‘’the Amendment of VAT Law w.e.f January 01, 2023’’)

Summary of VAT amendments:

Article Number Title VAT Amendments
Article 1  Definitions New definitions have been introduced for –

Relevant Charitable Activity, Pure Hydrocarbons, Tax Evasion, Tax Audit, Tax Assessment and Voluntary Disclosure.
Article 5 Supply of Goods Entry into a contract between more than two parties entailing the transfer of Goods at a later time will be considered as supply of goods as per new amendment.
Article 7 Other out-of-scope transactions A new clause inserted which allows the Executive Regulations to stipulate any other transactions that can be considered outside the scope of VAT.
Article 15 Registration Exceptions Exception to register from tax is now extended to include registered persons having 100% zero rated supplies, in addition to non-registered persons.
Article 21  Cases of Tax Deregistration New amendment grants the Federal Tax Authority, the right to deregister any registered person if they assume that the taxable person’s VAT registration may cause any harm to the tax system.
Article 26 Special Date of Supply The date of supply under Clause 1 now includes the date on which one year has passed from the date on which the goods or services are provided.
Article 27 Place of Supply of Goods (continuous supply) As per new clause, place of supply of goods that include export or import will be inside UAE if Article 26(1) applies AND the ownership of the goods has been transferred inside the UAE.
Article 30 Place of Supply in Special Cases (transport-related services) Clause is extended to include transport related services in the rule of special place of supply. Place of supply means place where transportation starts.
Article 33  Place of residency (Agent/Principal) The place of residence of principal will be the place of residence of the agent as per changed clause.
Article 36 Value of Supply and Deemed Supply for Related Parties Where a deemed supply occurs between related parties, the value of supply would be determined by the market value, as per amended law.
Article 45 Supply/Import of Goods and Services that are Subject to Zero Rate Import of following added to the zero-rated list

·         means of transportation and goods related to means of transportation

·         rescue planes and ships

·         crude oil and natural gas

·         Related basic healthcare goods.

·         investment precious metals (if they are supplied or imported for investment purposes.)
Article 48 Reverse Charge Reverse charge will apply to “Pure Hydrocarbons” instead of “any form of hydrocarbons”
Article 55 Recovery of Recoverable Input Tax in the Tax Period (Imports) The first condition of the Article for recovery of input tax as per the reverse charge mechanism is amended with the addition to keep invoices and import documentation (i.e. for goods only) for the importation of goods or services.
Article 57 Recovery of tax by Government Entities and Charities Government entities can recover tax if incurred for the provision of sovereign activities.

charitable organisation can recover tax if incurred for the provision of relevant charitable activities.
Article 61 Instances and Conditions for Output Tax Adjustments (additional case) Clause inserted which requires taxable person to adjust output tax after the date of supply not only if the tax was charged in error but also if the application of the tax treatment was incorrect (e.g., where it was treated as exempt/zero rated instead of taxable at 5%)
Article 62 Mechanism for Output Tax Adjustment Tax credit note must be issued within 14 days from the date of occurrence.
Article 65 Conditions and Requirements for Issuing Tax Invoices (obligation to pay VAT) It has made mandatory for the taxable person to pay the VAT to the Federal Tax Authority in cases where such person issues a tax invoice stating VAT on it or receives an amount as VAT.
Article 67  Date of Issuance of Tax Invoice (for continuous supplies) Now it has been specified that the date of issuance of tax invoice under continuous supply will be 14 days from the date of the supply.
Article 79 bis Statute of Limitations (new article) ·         The statute of limitation of 5 years not applicable where FTA has issued a notice to audit, provided audit is completed within 4 years from notice date.

·         statute of limitation will be extended by one year if taxable person files voluntary disclosure in 5th year.

·         Voluntary disclosure cannot be filed by the taxable person after the lapse of 5 years.

 

Why choose RBS auditing for Excise Tax consultancy?

excise tax

Are you wondering about outsourcing your food and beverage business to Dubai, UAE but are not familiar with the rules and regulations regarding the tax? Here is everything you need to know about the Excise Tax Registration and Return Filing services in UAE. Initially, on 1st October 2017, the excise tax was applicable only on specific goods according to the Excise Tax Federal Decree-Law No. (7) of 2017, but after two years in 2019, a few more goods got added to the list of excise tax products.

Excise Registration
Excise Registration

 

The products which are entitled to Excise tax include –

 

  • Carbonated drinks
  • liquids used in electronic smoking devices and tools
  • Sweetened drinks
  • Tobacco and tobacco products
  • Energy drinks
  • Electronic smoking devices and tools
  • Carbonated drinks

 

What is the procedure for registering for excise tax?

  1. Create and verify your e-service account with the FTA portal. For creating the account, you need to sign up with your email address.
  2. Once you log in to your account, try to understand the symbols and icons given on the registration form.
  3. To initiate the excise tax registration form, click on the confirm button.
  4. Now fill in the required details on the registration form, deregistration application, and amendment forms with correct answers.
  5. After ensuring that all the details are correct, click on the submit button.

 

The excise tax services provided by our company include Excise tax audit, advice on stockpilers, excise tax registration and deregistration, excise tax stock audit at the year-end, advice on stock/ inventory counting, and duty calculation, determining implication, scope, applicability-impact, and applicability analysis.

 

If you have gone through all the services mentioned above, and think that these services can be helpful to you, then please don’t forget to visit our website for some more details, or you can contact our service provider, who is available round the clock to solve all your issues regarding these services. RBS auditing is one of the best Accounting Firms in Dubai and Abu Dhabi, which provides all these services in a very cost-effective manner.

Accounting Firm
Accounting Firm

Our strength in excise tax consultancy in UAE –

We are the top financial advisers in the UAE because of our extensive expertise in these accounting and tax advising services. With years of expertise, we have improved and strengthened our excise tax consultancy services in Dubai, overcoming several of our shortcomings:

  • We adhere to the guidelines established by the Financial Tax Authority (FTA).
  • We promise to be accessible to our clients around the clock.
  • We give you thorough advice on complying with excise laws.
  • We compute, keep track of, and reconcile data, invoices, and transactions.
  • We offer a qualified staff of auditors and tax experts with expertise.
  • Our tax reports are meticulously organized following the UAE excise legislation.
  • We look after the assets of your business and guard you against costly penalties.
  • In the United Arab Emirates, we are registered in all reputable free zones.

 

We offer a full range of excise tax services, including planning, consulting, training, and registration. Contact us right now for more details about our consultancy services regarding excise taxes in the UAE.