Business Valuation and different ways to determine the Value of a Company

May 30, 2022

HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 55 807 4568
Email:- dubai@hlbhamt.com

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    Our team at HLB HAMT uses modern and widely accepted techniques to determine the right value of your enterprise.

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    Whatever your question our team will point you in the right direction

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    Emerging Technology and Role of the Internal Auditor in UAE

    Kikubye John, BA. Economics, ISO 22301, CPA (U)

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    HLB HAMT - Accounting Firm in UAE
    Phone:- +971 4 327 7775
    Mobile:- +971 55 807 4568
    Email:- dubai@hlbhamt.com

      Get Free Consultation




      Technology is evolving at an unprecedented pace. Corporate entities strive to improve service delivery and consequently customer satisfaction through heavily investing in modern technology and reliance on automation like smart automatic teller machines, point of sale devices, contactless debit and credit cards, mobile phone applications etc. Resultantly, the same has opened computer networks to unprecedented levels of vulnerabilities and risks including cyber-attacks.

      Albert Einstein said; “The measure of intelligence is the ability to change” -This implies that internal audit and quality assurance functions need to identify and focus on emerging risks. Internal audit should ensure that the risk assessment and audit planning process adequately incorporate emerging technology risks, understand the impact on the audit plan and update the plan as appropriate, but most importantly recognizes where internal audit can add value.

      Moreover, internal auditors must step away from the traditional reactive role and embrace a more proactive role if they are to give reasonable assurance that the Governance, Risk and Control aspects are effective in risk mitigation and adequately safeguard company assets.  They should not be functioning solely; but rather collaborate with different departments within an organization. Even though majority of the internal audit teams have transformed themselves, there are still a few that need to adopt these changes. Working closely with various departments within an entity will help in addressing the emerging threats arising from the technological advancements throughout the organization.

      How can internal auditors help in tackling technological risks?

      • Make use of technology-enabled auditing and continuous auditing techniques to monitor controls over areas that are more susceptible to fraudulent actions.
      • Collaborate with department heads and business owners to ensure organizational standards and the relevant laws and regulations are taken care of while establishing vendor relationships.
      • With mobile applications, bring your own devices (BYOD) and cloud computing creating novel risks, internal auditors have the responsibility to identify, assess and monitor these risks appropriately, with the assistance of executive management and business owners. Clear IT access and security policies and controls must be developed and communicated to all stakeholders. With this, security and privacy risks can be avoided to a certain extent.
      • Also, Internal Audit professionals are expected to be equipped with sufficient knowledge and skills to perform audits in line with these technology disruptions and recommend feasible and cost effective controls for improving the risk posture, putting in mind that these changes can either be positive or negative: Positive in a sense that business are reaping the benefits of these technologies through increased efficiencies, and negative in a sense that they may be implemented in a manner that imperils profitability, data protection and security.

      Conclusion

      Emerging technologies bring opportunities to organizations, but they also expose the enterprise to new risk. Auditors are expected to identify the right balance between cost and benefit of internal controls for mitigating these risk factors. This includes understanding how technology integrates with business, how it is governed, which activities are automated and how they are controlled, what the business impacts are because of this automation, and how negative impacts are controlled and monitored. I personally believe that Internal Audit professionals will continue to be in demand due to their strategic position in organizations’ lines of defence.

       

      Would you like to rate us on Google?         

       

      Varun R Chandra
      Varun R Chandra
      07:38 25 Apr 21
      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
      Giuseppe Assi
      Giuseppe Assi
      06:20 31 Jan 21
      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
      Mohamed Sheriff
      Mohamed Sheriff
      16:16 28 Jun 20
      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
      218141 JOSEPH THOMAS
      218141 JOSEPH THOMAS
      16:20 23 Jun 20
      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
      PMI
      PMI
      07:14 23 Jun 20
      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
      RAVI CHOKSI
      RAVI CHOKSI
      08:28 21 Jun 20
      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
      Maharajan Subramaniam
      Maharajan Subramaniam
      18:17 06 Jun 20
      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
      Mohammed L
      Mohammed L
      08:07 05 Jun 20
      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
      ROY ROSHAN VIVIAN
      ROY ROSHAN VIVIAN
      06:32 04 Jun 20
      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
      Basil Daniells
      Basil Daniells
      05:55 03 Jun 20
      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
      Amar Kashyap
      Amar Kashyap
      19:28 02 Jun 20
      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
      Radz de Jesus
      Radz de Jesus
      16:03 02 Jun 20
      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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      Whatever your question our team will point you in the right direction

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      Embracing AI to detect Fraud

      HLB HAMT News Team

      image

      HLB HAMT - Accounting Firm in UAE
      Phone:- +971 4 327 7775
      Mobile:- +971 52 830 7998
      Email:- dubai@hlbhamt.com

        Get Free Consultation




        Financial organizations across the globe lose 5 per cent, on average, of their annual revenue because of numerous fraudulent activities, not to mention the loss of productivity & depleted customer confidence as a by-product of the same. With artificial intelligence (AI) in fraud businesses can enhance internal security and simplify corporate operations.

        AI can handle a vast number of transactions quickly, thus helping detect fraud in real-time and rejecting or flagging fraudulent transactions for further investigation. Machine Learning (ML) can train models, thus making this detection process extremely fast.

        Supervised ML-based systems can be monitored by businesses’ analytics wing, which is at higher risk of such attacks. Moreover, these ML models can be subjected to constant scaling and upgrade, thus improving the fraud prevention scores. Integrating supervised & unsupervised machine learning into one fraud prevention payment score will help discover irregularities in emerging data. Combining these two will deliver scores that are twice as predictive as previous methods.

        AI-based technologies can help you evaluate a large amount of transactional data and assist you in identifying fraud patterns and tactics, thus allowing you to save millions through the prevention of any fraudulent attack.

         

        Would you like to rate us on Google?         

         

        Varun R Chandra
        Varun R Chandra
        07:38 25 Apr 21
        HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
        Giuseppe Assi
        Giuseppe Assi
        06:20 31 Jan 21
        I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
        Mohamed Sheriff
        Mohamed Sheriff
        16:16 28 Jun 20
        Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
        218141 JOSEPH THOMAS
        218141 JOSEPH THOMAS
        16:20 23 Jun 20
        Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
        PMI
        PMI
        07:14 23 Jun 20
        In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
        RAVI CHOKSI
        RAVI CHOKSI
        08:28 21 Jun 20
        Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
        Maharajan Subramaniam
        Maharajan Subramaniam
        18:17 06 Jun 20
        High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
        Mohammed L
        Mohammed L
        08:07 05 Jun 20
        We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
        ROY ROSHAN VIVIAN
        ROY ROSHAN VIVIAN
        06:32 04 Jun 20
        Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
        Basil Daniells
        Basil Daniells
        05:55 03 Jun 20
        I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
        Amar Kashyap
        Amar Kashyap
        19:28 02 Jun 20
        Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
        Radz de Jesus
        Radz de Jesus
        16:03 02 Jun 20
        We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
        Next Reviews
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        Whatever your question our team will point you in the right direction

        Start the conversation

        High time for Gulf nations to follow UAE IPO’s

        HLB HAMT News Team

        image

        HLB HAMT - Accounting Firm in UAE
        Phone:- +971 4 327 7775
        Mobile:- +971 55 160 1291
        Email:- dubai@hlbhamt.com

          Get Free Consultation




          The Gulf Cooperation Council (GCC) nations have created an atmosphere that is favorable to attracting private investment and personal savings to pour into the Gulf economy. This is a primary focus in order to successfully achieve the aim of broadening national revenue streams.

          The Gulf’s equity markets have experienced significant swings in behavior in recent times, with several achieving the designation of ‘global markets.’ This is particularly evident in the UAE equity marketplace, where IPOs are booming.

          Three Critical Aspects

          Let us look at three critical aspects that are frequently disregarded by business owners, directors, and top management officials, and so it may help improve the chances of success:

          • The primary and secondary markets have different characteristics
          • Variations in motives and objectives between pre-IPO and post-IPO participants
          • The false belief that Public Relations (PR) and Investor Relations (IR) are interchangeable may result in failure.

          Private Equity Transactions

          Last year, the price of private equity transactions increased to an all-time record of $1.1 trillion, owing to increased average transaction volumes as investors poured their cash into industries like technology and medical sciences. This resulted in a surge in public-to-private [P2P] transactions. Huge buyout funds, global corporations, and lenders, loaded with cash and spurred by increasing share market values, went on a deal-making frenzy in 2021.

          Pitfalls of IPO

          • The discrepancy between the IPO offer price and the first-day closing price is known as underpricing
          • The 30-day stabilization period following the listing of a business
          • The value of a company’s stock compared to a country’s index over a period

          Organizations today considering a public offering should be aware of the significant risk of failure. Both issuers and shareholders still have a long way to go to realize the actual market possibilities of listed firms. As IPOs are popular in the UAE, they are essentially non-existent in the other GCC nations. This can be attributed to the lack of efforts by IPO-related organisations, which are turning out to be a serious flaw that should be remedied at the earliest.

           

          Would you like to rate us on Google?         

           

          Varun R Chandra
          Varun R Chandra
          07:38 25 Apr 21
          HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
          Giuseppe Assi
          Giuseppe Assi
          06:20 31 Jan 21
          I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
          Mohamed Sheriff
          Mohamed Sheriff
          16:16 28 Jun 20
          Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
          218141 JOSEPH THOMAS
          218141 JOSEPH THOMAS
          16:20 23 Jun 20
          Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
          PMI
          PMI
          07:14 23 Jun 20
          In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
          RAVI CHOKSI
          RAVI CHOKSI
          08:28 21 Jun 20
          Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
          Maharajan Subramaniam
          Maharajan Subramaniam
          18:17 06 Jun 20
          High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
          Mohammed L
          Mohammed L
          08:07 05 Jun 20
          We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
          ROY ROSHAN VIVIAN
          ROY ROSHAN VIVIAN
          06:32 04 Jun 20
          Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
          Basil Daniells
          Basil Daniells
          05:55 03 Jun 20
          I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
          Amar Kashyap
          Amar Kashyap
          19:28 02 Jun 20
          Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
          Radz de Jesus
          Radz de Jesus
          16:03 02 Jun 20
          We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
          Next Reviews
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          Get in touch

          Whatever your question our team will point you in the right direction

          Start the conversation

          The UAE proposed the ‘Green Visa’ programme 2022

          HLB HAMT News Team

          image

          HLB HAMT - Accounting Firm in UAE
          Phone:- +971 4 327 7775
          Mobile:- +971 55 160 1291
          Email:- dubai@hlbhamt.com

            Get Free Consultation




            The UAE Cabinet has declared the launch of a new resident visa category, the Green visa, which is one of the most significant improvements to the UAE visa system in years. As part of the announcement, a new type of Green Residence Permit for entrepreneurs, skilled personnel, self-employed professionals, and family members.

            The program allows people to remain in the nation for up to six months after their residence permit has been revoked or lapsed.

            5-year Green Residence Permit

            Without the necessity for an employer or sponsor, qualified professionals can acquire a five-year green residence visa. The following are the categories:

            I. Self Employed or Freelance Individuals

            There is no requirement for a sponsor or an employer for this 5-year resident visa. As a minimum academic requirement, a bachelor’s degree or specialised certificate is necessary. Furthermore, the individual’s annual self-employment income for the previous two years must have been at least Dhs360,000.

            II. Skilled Employees

            There is no requirement for a sponsor or an employer for this 5-year resident visa. Candidates must be employed and classified in one of the first, second, or third occupational levels.

            III. For business partners or investors

            This residence visa allows investors to stay for five years while starting or expanding a business. It replaces the previous residence, which was just two years long. The prerequisites include permission and proof of investment.

            IV. Family Members

            Children sponsorship age limit have been elevated from 18 to 25, with no age limit for unmarried daughters. Children of determination are given a residence visa regardless of their age. Green residence visa holders may issue residence permits to first-degree relatives, with the family members’ residency having the same duration as the primary resident visa holder.

            The proposed Green visa programme focuses on strengthening the UAE’s profile as an attractive location to lure foreign talents and skilled professionals, as well as the adaptability of the labour force.

             

            Would you like to rate us on Google?         

             

            Varun R Chandra
            Varun R Chandra
            07:38 25 Apr 21
            HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
            Giuseppe Assi
            Giuseppe Assi
            06:20 31 Jan 21
            I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
            Mohamed Sheriff
            Mohamed Sheriff
            16:16 28 Jun 20
            Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
            218141 JOSEPH THOMAS
            218141 JOSEPH THOMAS
            16:20 23 Jun 20
            Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
            PMI
            PMI
            07:14 23 Jun 20
            In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
            RAVI CHOKSI
            RAVI CHOKSI
            08:28 21 Jun 20
            Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
            Maharajan Subramaniam
            Maharajan Subramaniam
            18:17 06 Jun 20
            High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
            Mohammed L
            Mohammed L
            08:07 05 Jun 20
            We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
            ROY ROSHAN VIVIAN
            ROY ROSHAN VIVIAN
            06:32 04 Jun 20
            Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
            Basil Daniells
            Basil Daniells
            05:55 03 Jun 20
            I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
            Amar Kashyap
            Amar Kashyap
            19:28 02 Jun 20
            Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
            Radz de Jesus
            Radz de Jesus
            16:03 02 Jun 20
            We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
            Next Reviews
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            Whatever your question our team will point you in the right direction

            Start the conversation

            VAT Transactions between UAE branch and foreign Head Office

            Sreekanth Karicheri, Tax Analyst

            image

            HLB HAMT - Accounting Firm in UAE
            Phone:- +971 4 327 7775
            Mobile:- +971 50 677 5860
            Email:- dubai@hlbhamt.com

              Get Free Consultation




              Basis of opinion

              Article 1 of the VAT Decree-Law defines a person as a natural or legal person

              Applicability

              Applicable to the transactions entered between the UAE branch and the foreign head office

              Practical example:

              ABC LTD an entity located in the United Kingdom (UK) incorporated a foreign branch in UAE with the legal type “branch of a foreign entity” and it is also registered with FTA. The following transactions are happened between head office and branch:

              1. Head office charged USD 100,000 from branch as a management fee
              2. The foreign branch received an interest income of USD 50,000 against a deposit made with head office

              The foreign branch is using one of the apportionment methods approved by the authority to apportion the residual input tax.

              • Whether the foreign branch is required to disclose the above two transactions in the VAT return?
              • Is there any impact for these transactions in input tax apportionment method used by the branch?

              Solution:

              Reporting requirement

              For a supply to take place for VAT purposes, the transactions must generally take place between two separate persons. However, a branch is considered as an extension of the head office/parent company and hence is not to be treated as a separate company.

              Therefore, the transaction between foreign branch in UAE and head office in UK will be outside the scope of UAE VAT and the branch is not required to report such transactions in the VAT Return.

              Input tax apportionment

              Since these transactions are outside the scope of UAE VAT, the branch is not required to include these transactions in the input tax apportionment method calculation. i.e., above transactions shall not impact the percentage of recovery of residual input tax.

              Conclusion

              Transaction between the UAE branch and its head office located outside UAE are out of scope for VAT purpose. Also, such transactions must not be considered in calculation method for apportionment of residual input tax.

               

              Would you like to rate us on Google?         

               

              Varun R Chandra
              Varun R Chandra
              07:38 25 Apr 21
              HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
              Giuseppe Assi
              Giuseppe Assi
              06:20 31 Jan 21
              I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
              Mohamed Sheriff
              Mohamed Sheriff
              16:16 28 Jun 20
              Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
              218141 JOSEPH THOMAS
              218141 JOSEPH THOMAS
              16:20 23 Jun 20
              Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
              PMI
              PMI
              07:14 23 Jun 20
              In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
              RAVI CHOKSI
              RAVI CHOKSI
              08:28 21 Jun 20
              Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
              Maharajan Subramaniam
              Maharajan Subramaniam
              18:17 06 Jun 20
              High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
              Mohammed L
              Mohammed L
              08:07 05 Jun 20
              We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
              ROY ROSHAN VIVIAN
              ROY ROSHAN VIVIAN
              06:32 04 Jun 20
              Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
              Basil Daniells
              Basil Daniells
              05:55 03 Jun 20
              I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
              Amar Kashyap
              Amar Kashyap
              19:28 02 Jun 20
              Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
              Radz de Jesus
              Radz de Jesus
              16:03 02 Jun 20
              We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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              A brief overview on Payroll Process in UAE

              May 14, 2022

              HLB HAMT - Accounting Firm in UAE

              Phone:- +971 4 327 7775
              Mobile:- +971 559715959
              Email:- dubai@hlbhamt.com

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                As a leading payroll outsourcing company in UAE, we help solve your payroll complexities via customized strategies.

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                Unemployed workers in UAE will be Compensated Under New insurance scheme

                HLB HAMT News Team

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                HLB HAMT - Accounting Firm in UAE
                Phone:- +971 4 327 7775
                Mobile:- +971 55 160 1291
                Email:- dubai@hlbhamt.com

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                  The UAE cabinet has announced the implementation of an unemployment insurance scheme that would compensate insured workers with a cash payment for a limited time period in the case of job loss. The goal is to improve labour market competitiveness, offer social protection for workers, and create a safe and secure working platform for everybody.

                  The benefits include a reduction of 80% in the Ministry of Human Resources and Emiratisation’s service costs for private sector enterprises that produce significant results in terms of Emirati citizen recruitment and training. Beginning in January 2023, non-compliant businesses would be required to pay AED6,000 per month for each individual who is unemployed.

                  Emiratisation rates rises

                  A new mechanism to strengthen Emiratisation in the private sector has also been authorised, with the intention of boosting Emiratisation rates in skilled occupations by 2% yearly. By 2026, the rate will have climbed to 10%.

                  The proposed system will be deployed in collaboration with Nafis, a federal initiative aimed at improving Emirati workforce productivity and empowering people to work in the private sector.

                  NAFIS provides a number of advantages, such as the Emirati Salary Support Scheme, which provides UAE nationals with a one-year salary assistance of up to Dh8,000 per month while training and a monthly assistance of up to Dh5,000 for university graduates for up to 5 years.

                  Housing project

                  In addition, the UAE Cabinet also announced a new housing policy as part of its Zayed House Programme, which comprises an innovative funding scheme for housing loans totaling $3.13 billion (AED 11.5 billion) that would help 13,000 citizen families. The financing initiative is the most recent milestone in the Sheikh Zayed Housing Programme, which aims to guarantee that every person has access to a family home.

                   

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                  Varun R Chandra
                  Varun R Chandra
                  07:38 25 Apr 21
                  HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                  Giuseppe Assi
                  Giuseppe Assi
                  06:20 31 Jan 21
                  I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                  Mohamed Sheriff
                  Mohamed Sheriff
                  16:16 28 Jun 20
                  Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                  218141 JOSEPH THOMAS
                  218141 JOSEPH THOMAS
                  16:20 23 Jun 20
                  Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                  PMI
                  PMI
                  07:14 23 Jun 20
                  In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                  RAVI CHOKSI
                  RAVI CHOKSI
                  08:28 21 Jun 20
                  Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                  Maharajan Subramaniam
                  Maharajan Subramaniam
                  18:17 06 Jun 20
                  High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                  Mohammed L
                  Mohammed L
                  08:07 05 Jun 20
                  We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                  ROY ROSHAN VIVIAN
                  ROY ROSHAN VIVIAN
                  06:32 04 Jun 20
                  Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                  Basil Daniells
                  Basil Daniells
                  05:55 03 Jun 20
                  I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                  Amar Kashyap
                  Amar Kashyap
                  19:28 02 Jun 20
                  Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                  Radz de Jesus
                  Radz de Jesus
                  16:03 02 Jun 20
                  We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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                  UAE Data Protection Law – An update on UAE Federal Data Protection Law

                  May 5, 2022

                  HLB HAMT - Accounting Firm in UAE

                  Phone:- +971 4 327 7775
                  Mobile:- +971 52 830 7998
                  Email:- dubai@hlbhamt.com

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                    We help companies allocate and plan their required resources and help in the implementation of a compliant data protection structure.

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