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What are CFO Services?

A CEO of a business may not have adequate time to effectively contemplate on the financial and accounting matters concerning the business. He/she usually invests the vast majority of the time and resources dealing with the core company issues. However, accounting and finance matters serve as the cornerstone of a business. Overlooking the financial aspects may adversely affect the business prospects. And this is the juncture at which the business needs the assistance of a CFO or Chief Financial Officer. The Chief Financial Officer supervises the key financial aspects of a business establishment like planning, recording and reporting on monetary transactions, and taking care of the risk associated with business management. Kiltons CFO services in Dubai and UAE are ideal if you are planning for a major organizational change. If you are up to a financial restructuring of your company, Kiltons CFO services would always come in handy. We have perfectly optimized and customized options to meet your specific needs based on your priority. Click here to talk to our financial experts right away.

The CFO also offers valuable advice and recommendations regarding the regulation of expenditure and cost-effective revenue generation. The business either hires a CFO professional to manage the financial and accounting requirements or outsource the job to a credible CFO service provider.

Many investors and startup entrepreneurs consider Dubai as their most preferred investment destination in Asia. The reasons for this preference are many, but when it comes to monetary matters, tax-related benefits have great significance. Dubai is a tax haven and provides many tax concessions and benefits for investors and business houses. Most of the companies registered in the Emirates need not pay Corporate income tax.

Kiltons provides outstanding tax services in Dubai and across the UAE, handling various tax-related activities. Getting the tax consultant services in Dubai will help you prevent financial loss of your company, availing more investment opportunities, maintain proper auditing, enhance profitability, etc. Our team of tax consultants provides tax advice for companies in Dubai to help them solve their tax issues in line with corporate strategies.

The way taxation is implemented in the UAE is precisely mentioned below. Before going into the details, let us have an understanding of Resident and Non-resident companies in the UAE.

A brief insight into Value Added tax

VAT return filing in Dubai is mandatory for all business operating in the country. Value Added Tax or simply VAT is actually consumption tax imposed on a product or commodity. Here value is added at different stages of the supply chain. The value is added from the manufacturing stage to the point of purchase. At present, 180 world nations employ the indirect tax named Value Added Tax. The end-customer has to pay the tax amount when it comes to Value added tax.

Value Added tax was launched in the Emirates in 2018. A 5% vat rate is followed in the UAE. VAT serves as a source of revenue generation for the UAE government. The government utilizes this revenue to improve various services that it offers to the UAE residents. One of the major aspects that differentiate the VAT from Income tax is that VAT is fully based on consumer consumption. The consumer has to pay VAT irrespective of his/her income. UAE laws make it mandatory for a taxable person or a business to file VAT returns as recommended by the Federal Tax Authority. Kiltons offer trouble-free, fully compliant VAT return filing services in Dubai and other Emirates. Feel free to contact Kiltons VAT and Accounting professionals for the best deals. Now!!

VAT or Value-added Tax is a form of indirect tax adopted and practised in 160 world countries. To be more precise, VAT is a taxation system imposed on the consumption of various commodities, products or services. It is a “Consumption tax” and has nothing to with the income of the taxpayer. This taxation system is widely followed in the European Union. VAT came into effect in the UAE and GCC countries in the advent of 2018. The VAT rate followed in the UAE and GCC countries is 5%. Value-added tax as the name suggests, the value of the product or commodity gets added or increased at the different phases of the supply chain. And this value addition takes place from the stage of manufacture to distribution or sales. VAT registration in Dubai, UAE is compulsory for all businesses irrespective of the business domain or size. If you are an entrepreneur planning to expand your business to the Emirates or a business proprietor in the UAE, you are supposed to have a clear understanding of VAT registration in UAE. Kiltons is one of the leading VAT consultants in Dubai, UAE, which provides excellent VAT registration services across the Emirates. We shall go through the various aspects of VAT in connection with the registration, VAT Certificate, VAT Groups etc in a very lucid manner.

In simple words, accounting is the recording of monetary dealings concerning a company or business concern. The process of accounting comprises summing up, evaluating and disclosing of the monetary or financial dealings to supervising bodies, regulating agencies, and authorities that accumulate tax. A financial statement is a common term connected to accounting. The financial statement is an abstract of monetary transactions associated with a business establishment for a period of time. It gives various vital information regarding economic status, operations, and net transactions of the business. It is mandatory for a business establishment to keep a record of the accounting data for a period of 5 years in the Emirates. Kiltons provides a wide range of accounting and bookkeeping services in Dubai to clients of diverse domains. The accounting-related aspects play a significant role in the overall working of a business establishment irrespective of the business domain or size. Dubai is one of the most sought after business destinations in the world and therefore the need for cost-effective and efficient accounting services is very essential.

What is audit?

To simply put, an Audit is a term used to denote the assessment of the financial matters of a company or business establishment. The financial statements of a business establishment must go through elaborate scrutiny or assessment in an unbiased and objective manner. The auditing is done to ensure the veracity of the financial statements maintained by the business establishment. The financial statements maintained by the business should precisely denote the claimed monetary transactions. This scrutiny is done by accounting and finance professionals termed as Auditors.

The Audit process can be accomplished either internally by the staff employed by the company or externally by a certified external agency. The Auditing done internally is what we call Internal Auditing and that done by an external agency is called External Auditing. We shall go through both the Auditing processes in detail.

Kiltons is one of the leading business setup service providers in UAE, which offers excellent auditing services in Dubai and across the Emirates.