“Engage Approved and Licensed Auditors Only!”

DMCC Free Zone Approved Auditor

Employing an approved auditor is critical for businesses of all sizes and industries. Approved auditors are professionals certified and authorized by regulatory bodies to perform audits and issue reports. At RBS Auditing, you will find a DSO and DMCC Free Zone Approved Auditor only! 

DMCC Free Zone Approved Auditor
DMCC Free Zone Approved Auditor

Here are some reasons why hiring an approved auditor is essential:

 

  1. Compliance: Approved auditors ensure businesses comply with regulatory requirements and accounting standards. They can help identify any non-compliance issues and provide recommendations to mitigate them.

 

  1. Credibility: Audit reports issued by approved auditors carry more weight and credibility in the eyes of stakeholders, including investors, creditors, and regulatory bodies.

 

  1. Assurance: Approved auditors assure stakeholders that the financial statements are accurate and reliable. It can help improve investor confidence and enhance the reputation of the business.

 

  1. Risk Management: Approved auditors can help identify and mitigate financial, operational, and compliance risks. It can help businesses avoid potential losses and improve overall risk management.

 

  1. Expertise: Approved auditors are trained professionals with in-depth accounting and auditing standards knowledge. They can provide valuable insights and advice to businesses on financial management, internal controls, and related matters.

 

Thus, hiring an approved auditor from firms like RBS Auditing is essential for businesses that want to ensure compliance, improve credibility, manage risks, and benefit from the expertise of trained professionals. Read on to know why you should count on us!

 

Reasons Why Auditors of RBS Auditing Better than the Competitors.

 

RBS Auditing is a reputable and reliable auditing firm providing auditing services to businesses in Dubai for several years. We are a DMCC, and DSO Free Zone Approved Auditor, which means that we have met the stringent requirements of these regulatory bodies to provide auditing services in these zones. 

 

Here are some reasons why our auditors are better than other service providers:

 

Certification: 

 

RBS Auditing’s auditors are DMCC and DSO Free Zone-approved auditors, which means we have the required certification and expertise to conduct audits in these zones. This certification ensures we meet the highest standards of professionalism, ethics, and quality in their auditing services.

 

Experience: 

 

RBS Auditing’s auditors have extensive experience auditing businesses of all sizes and industries. We have a deep understanding of regulatory requirements and accounting standards, which enables us to provide accurate and reliable audit reports.

 

Timely Service: 

 

RBS Auditing’s auditors provide convenient auditing services, ensuring clients receive their reports promptly. It enables firms to make informed judgments based on accurate and up-to-date financial information.

 

Competitive Pricing: 

 

RBS Auditing’s auditors provide competitive pricing for their auditing services, ensuring that businesses of all sizes can afford them.

 

So, if you are looking for a reliable auditing firm in Dubai, contact RBS Auditing today. We also provide other services, such as VAT Registration in UAE!

Uncovering the Secrets of Efficient Auditing with RBS Auditing

best auditing services in Dubai
RBS Auditing is a leading provider of auditing services for businesses operating within the Dubai Free Zone and DSO. With a team of experienced and professional auditors, RBS Auditing has become a trusted name in the industry.
In this blog, we will delve into the world of auditing and the benefits that come with working with RBS Auditing.
Auditing is a critical aspect of any business. It helps companies to identify areas of improvement and maintain transparency in their financial records. For businesses operating in Dubai Free Zone and DSO, it is mandatory to have their financial records audited by a Free Zone approved auditor. RBS Auditing provides a comprehensive range of auditing services that are tailored to meet the unique needs of businesses in these areas.
Benefits of RBS Auditing Services:
best auditing services in Dubai
best auditing services in Dubai
Free Zone Auditing:
As a Dmcc Free Zone Approved Auditor and Dso Free Zone Approved Auditor, RBS Auditing has the expertise and knowledge to carry out efficient and effective Free Zone auditing. Our team of auditors is well-versed in the regulations and laws that govern the Free Zone and DSO, ensuring that all audits are carried out in compliance with these regulations.
Experienced Auditors:
At RBS Auditing, we believe that our strength lies in the expertise of our auditors. Our team of auditors has a wealth of experience in carrying out audits across a range of industries. This experience allows them to identify areas of improvement and provide valuable insights that can help businesses to streamline their operations and improve their financial performance.
Comprehensive Auditing Services:
RBS Auditing provides a comprehensive range of auditing services that are tailored to meet the unique needs of businesses in the Free Zone and DSO. Our services include financial statement audits, operational audits, and compliance audits, among others. By working with RBS Auditing, businesses can be assured that their financial records are thoroughly examined, and all areas of improvement are identified.

 

Customer-Centric Approach:
At RBS Auditing, we are dedicated to providing our clients with the highest level of service. Our team of auditors takes a customer-centric approach to their work, ensuring that all clients receive personalized attention and support throughout the auditing process.

Cost-Effective:
RBS Auditing is committed to providing cost-effective auditing services that do not compromise on quality. We work closely with our clients to understand their unique needs and budget constraints, ensuring that our services are tailored to meet their specific requirements.

Conclusion :
RBS Auditing has a proven track record of delivering best auditing services in Dubai Free Zone and DSO for over 10 years. With a team of highly experienced auditors boasting a collective 50 years in the industry, RBS has successfully conducted over 500 audits in the last financial year. The results of our services are evident, as a staggering 96% of clients have reported improved financial performance. It is clear that RBS Auditing continues to be a leader in the auditing industry, providing valuable insights and solutions to its clients. So why wait? Contact us
today and take the first step towards maximizing your business potential

UAE AMENDED SOME ADMINISTRATIVE PENALTIES FOR VIOLATION OF TAX LAWS IN THE UAE

UAE Tax penalty
Cabinet Decision No. 49 of 2021 on Amending some Provisions of Cabinet Decision No. 40 of 2017 on the Administrative Penalties for Violation of Tax Laws in the UAE
In accordance with Cabinet Decision No 49 of 2021 on Amending some Provisions of Cabinet Decision No. 40 of 2017 on the Administrative Penalties for Violation of Tax Laws in the UAE, which will be effective from 28 June 2021, the FTA would like to inform you that it has released two Public Clarifications, which you can view on the FTA website.
With respect to TAXP002, and if you had any outstanding balances, you would have previously been able to see such outstanding balance on the returns page. From Wednesday 23 June, you will be able to see how much of your balance is related to tax and how much is related to administrative penalties on the My Payments page when you log into E-Services. This link will open a window that will include the following:
  • Tax Payable – this is the outstanding tax balance (based on tax returns you submitted and any adjustments due to voluntary disclosures or tax assessments) and will be updated on a daily basis until 31 December 2021, for you to know how much tax is outstanding and is subject to late payment penalties if not settled by payable date, and needs to be settled in full before 31 December 2021 to benefit from the redetermination of administrative penalties in accordance with Cabinet Decision No 49 of 2021.
  • Late Registration Penalty – this is the outstanding unpaid late registration penalty, if available.
  • Other Penalties Payable – this is the outstanding unpaid administrative penalties balance (other than late registration) and may increase if new administrative penalties are applied or decrease if payments are made or penalty reversed. The balance on 28 June 2021 will be subject to redetermination if conditions stated in Cabinet Decision No 49 of 2021 are met.
  • Net Payable Amount – this is the total amount of Tax Payable and Penalties Payable outstanding at any time.
  • Total Credit – this is the amount of credit that the registrant has with the FTA. FTA will be launching a full dashboard with your Tax Payable and Administrative Penalties

UAE- NEW LAW ALLOWING FULL FOREIGN OWNERSHIP OF ONSHORE COMPANIES TAKES EFFECT ON JUNE 1

Dept. of economic development
The UAE’s Ministry of Economy has confirmed that the amended legislation permitting foreign investors and entrepreneurs to establish and fully own onshore companies, will come into effect from June 1.
Amendment to the Commercial Companies Law will ‘boost country’s competitive edge and facilitate business’, according to UAE Minister of Economy
Minister of Economy Abdullah bin Touq in a tweet confirmed that the latest decision is a new step that reflects the UAE government’s commitment to supporting the economy and enhancing its readiness for the future.
In November 2020, the UAE announced that the of businesses would take effect from December 1, 2020. However, after widening the scope of sectors eligible for full ownership by foreign investors, the law is now ready for roll out from June 1, 2021.
The long-anticipated and widely discussed reform, which will have game-changing implications on the investment landscape of the nation, was approved by President His Highness Sheikh Khalifa bin Zayed Al Nahyan last year.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has said the UAE now enjoys a fertile legislative environment for foreign direct investors in order to enhance the nation’s competitiveness.
Last month, the UAE’s Ministry of Economy also said it was working on a new legislation to include 10 new sectors to the Commercial Companies Law, which allows 100 per cent foreign ownership of onshore companies in the country.

TEMPORARY ZERO-RATING OF CERTAIN MEDICAL EQUIPMENT

On 1 September 2020, the Cabinet issued a Cabinet Decision No. 9/12 O of 2020 (“Cabinet Decision”). The Decision concerns the temporary application of VAT at the 0% rate on certain supplies and imports of medical equipment. Furthermore, the Ministerial Decision No. 380 of 2020 (“Ministerial Decision”) issued by the Minister of Health and Prevention on 6 December 2020 (with effect from 1 September 2020) specifies the medical equipment that are zero-rated in accordance with the Cabinet Decision. In accordance with Cabinet Decision No. 15/3 O of 2021, the above decisions shall be effective until 31 December 2021.
In accordance with the Cabinet Decision, a supply or import of certain medical equipment may be zero-rated. It should be noted that that the zero-rating of supplies and imports under the Cabinet Decision is separate, and in addition to, zero-rating of any other medical equipment in accordance with Cabinet Decision No. 56 of 2017 on Medications and Medical Equipment Subject to Tax at Zero Rate.
On 1 September 2020, the Cabinet issued a Cabinet Decision No. 9/12 O of 2020 (“Cabinet Decision”). The Decision concerns the temporary application of VAT at the 0% rate on certain supplies and imports of medical equipment. Furthermore, the Ministerial Decision No. 380 of 2020 (“Ministerial Decision”) issued by the Minister of Health and Prevention on 6 December 2020 (with effect from 1 September 2020) specifies the medical equipment that are zero-rated in accordance with the Cabinet Decision. In accordance with Cabinet Decision No. 15/3 O of 2021, the above decisions shall be effective until 31 December 2021.
In accordance with the Cabinet Decision, a supply or import of certain medical equipment may be zero-rated. It should be noted that that the zero-rating of supplies and imports under the Cabinet Decision is separate, and in addition to, zero-rating of any other medical equipment in accordance with Cabinet Decision No. 56 of 2017 on Medications and Medical Equipment Subject to Tax at Zero Rate.
The “medical equipment” to which the temporary zero-rating rules apply are personal protective equipment used for the protection from Covid-19, and which contain the features and meet the specifications determined and specified by the Ministerial Decision. Such medical equipment are limited to:
  • Medical face masks that are not included in the Cabinet Decision No. 56 of 2017 on Medications and Medical Equipment Subject to Tax at Zero Rate (of approved standards 14683 and UAE.S ASTM F2100);
  • Half filtered face mask (UAE.S EN 149);
  • Chemical disinfectants and antiseptics intended for use on the human body, but excluding detergents, cosmetics and personal care products (UAE.S EN 1276, EN 1650, and EN 14476:2013+A2).
  • Non-Medical “community” face mask made from textile (UAE.S 1956);
  • Chemical disinfectants and antiseptics intended for use on the human body, but excluding detergents, cosmetics and personal care products (UAE.S EN 1276, EN 1650, and EN 14476:2013+A2).

CONDITIONS TO ZERO-RATING

Date of supply/import of above mentioned medical equipment shall be within the period beginning from 1 September 2020 to 31 December 2021.

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TYPES OF LIQUIDATION SERVICES IN DUBAI

Liquidation-Services

The Liquidation Services In Dubai includes the change of an enterprise’s resources into cash, remunerated to various tops which used to add to the maintenance of the company. For example, a company might be liquidated to recompense the debts to the creditors; the lending companies or a bank from which the company required loans once.
It is the previous option which lenders choose by UAE freezone company liquidation, as a company which is in best possible financial health is not subjected to the liquidation process. However, if a company isn’t offering any appropriate growth and the debtors cannot able to pay the debt, and then creditors opt to take action against the organization on behalf of their money.
Liquidation Services In Dubai – In the procedure, the possessions of the company; land, machinery, raw material, products, and other sell-able items are auctioned or retailed straight to a potential buyer. The cash, which is received from the selling of the entire things, is then allocated amongst the lenders.

Benefits

  • It occurs to the company, not the people within the company.
  • Management of the liquidation is approved on top of the selected liquidator; alleviating some of the anxiety that a director can acquire thus of the procedure.
  • Once the company is liquidated, creditors can no longer follow directors for expense.
  • As quickly as the company closes, all legal battle against the company is prevented.

Types of Liquidation

Company liquidation is two types:

1. Voluntary Liquidation

In a category voluntary liquidation, the investors of a company will choose to ploy the company as they have no money to back creditors. In this kind of liquidation, main concern is given to the creditors

2. Compulsory Liquidation

Compulsory liquidation is a kind of company liquidation which is present by court order. Here, the resources of the firm are dispersed to the creditors and contributors based on the precedence of claims.

WITH THE DMCC FREE ZONE APPROVED AUDITOR GET ALL ABSOLUTE ACCOUNTING PROCESS

Meeting
Dmcc Free Zone Approved Auditor is a free zone for the business to run in Dubai and it was founded in 2002 by the Dubai government. Businesses owners are now managing in valuable products such as diamond, gold, colour stones, pearls and other expensive things can sign up their self in DMCC. DMCC is an overseeing body that makes sure the operations of businesses are in order with the global and local law.
Dso Free Zone Approved Auditor comes in top list in the DMCC free zone standard auditor list by the government of Dubai. Our auditing statements are thorough and efficient as we have professional and experienced auditors in Dubai.
Companies operating in the DMCC free zone need to meet some diverse rules and regulations as free zones which have its own set of laws. For instance, DMCC free zone companies can obtain audit statement from only DMCC free zone certified auditor. The auditing details from other auditor for DMCC companies.

Auditing

Auditing is compulsory as per as laws of DMCC for organizations that come with DMCC. According to DMCC policy, every registered firm should perform an audit by approved auditors in Dubai in each every fiscal year and upload auditing details with other documents on the DMCC website just in the 90 days after conclusion of every financial year.
If a firm is not able to give an audit report within 90 days, a penalty will be given or annulment of licence. An auditor can ask for extra papers and new at any stage to perform smooth and authentic audit. Approved auditors are unsafe for the DMCC companies as companies are infringing the DMCC laws. Dmcc Free Zone Approved Auditor For your information documents associated to communication of organization, Bank statements, balance confirmation, cash books, expense bills, sales invoices, invoices and buying bills are necessary throughout the audit