“The Major Services Offered by RBS Auditing”

company-formation-in-uae

RBS Auditing is a leading consultancy and auditing firm in Dubai, offering various services to businesses of all sizes and industries. Our trained professionals work closely with clients to understand their unique needs and provide tailored solutions that help them achieve their business goals. One of our USPs is Company Formation In UAE. 

Company Formation In UAE
Company Formation In UAE

Significant services offered by RBS Auditing and how they can benefit your business.

 

  • Accounting Services: RBS Auditing offers comprehensive accounting services to businesses, including bookkeeping, financial reporting, and payroll processing. We can help you maintain accurate financial records, prepare financial statements, and ensure compliance with regulatory requirements.

 

  • Business Structuring: We can assist you in structuring your business to maximize efficiency and minimize risk. We can help you choose the correct legal entity, draft partnership agreements, and ensure compliance with legal and regulatory requirements.

 

  • Business Strategy Services: At RBS Auditing, we offer services to help you develop and implement effective strategies that align with your business goals. We can help you identify growth opportunities, assess market trends, and create a roadmap for success.

 

  • Outsourcing Services: We deliver outsourcing services to help you streamline your operations and reduce costs. We can take care of back-office functions such as accounting, payroll, and administration, allowing you to focus on your core business activities.

 

  • Business Advisory Services: RBS Auditing offers business advisory services that provide valuable insights and advice to help you make informed business decisions. We can support you with financial planning, risk management, and business forecasting.

 

  • Excise Tax Advisory: We also offer excise tax advisory services to help businesses comply with the excise tax regulations in Dubai. We can assist you in understanding the tax implications of your products, identify potential risks, and guide compliance.

 

  • Auditing Services: We offer auditing services to help businesses comply with regulatory requirements and ensure the accuracy of their financial statements. We can perform internal, external, and special audits as required.

 

  • VAT Advisory: We offer VAT advisory services to help businesses navigate the complex VAT regulations in Dubai. We can assist you with VAT registration, compliance, VAT Return Filing in UAE and planning and advice on VAT-related matters such as invoicing and the VAT treatment of different transactions.

 

  • Business Finance: RBS Auditing offers business finance services to help businesses secure funding for their operations. They can assist you in preparing financial statements, creating financial projections, and identifying potential funding sources.

 

Therefore, RBS Auditing offers many services to help your business operate more efficiently, comply with regulatory requirements, and achieve business goals. Contact RBS Auditing – One of the best VAT Consultancy Services in Sharjah, today to learn how we can help your business flourish and succeed! 

RECEIVED PENALTIES FOR NON-SUBMISSION OF ESR REPORT?!. FILE AN APPEAL

ESR-Notification-UAE
Received Penalties For No-Submission Of ESR Report?!. File An Appeal
Did you successfully submit the Economic Substance Notification & Economic Substance Report of your company to the Ministry of Finance?
Did you successfully submit the Economic Substance Notification & Economic Substance Report of your company to the Ministry of Finance?
Did you get any response from the authority is after that?
Many licensees in the UAE have come across penalty emails from the Ministry of Finance.

Did you get any such penalty email?

If yes, do you know how to resolve the issues? In order to resolve such issues, we should know exactly the reason for receiving such a penalty ticket from the Authority. We have listed down some of the reasons why you might have received penalty emails
Situation in which Economic Substance Notification is submitted declaring a Specific Relevant Activity. Later the Economic Substance notification amendment was filed that it is not covered in Relevant activity neither earning relevant income in the Economic Substance Notification.
In this case, the company need not submit the Economic Substance Report. But the approval for Amendment on Economic Substance Notification might have taken the time and by then the Economic Substance Report Tab becomes active.
Economic Substance Report was not filed since it is not carrying relevant activity . Still, the penalty ticket may raise.
How to waive off the penalties generated from situations like above?
In the above-given scenarios, the Licensee or Exempted Licensee will have the option to Appeal.
Article 13 & 14 of the Economic Substance Regulation provides the offences & penalties for failure to provide Notification and Report, respectively. The administrative penalty will be levied on that Licensee or Exempted Licensee who fails to submit Notification & Report (wherever applicable) as below: Failure to submit Penalty Amount
Failure to submit
Penalty amount
ECONOMIC SUBSTANCE REGULATION [ESR] Notification
AED 20,000
ECONOMIC SUBSTANCE REGULATION [ESR] Report
AED 50,000
If there is a delay in submitting Economic Substance Notification or Economic Substance Reports, and if such delay is because of the ignorance of the Law, the chance of getting approval for waiving off the penalty cannot be assured through an appeal.
But there are genuine cases as mentioned at the beginning of this article, where the penalty can be appealed and removed. We are happy to resolve your issues by submitting the Appeal to the Authority.