RCM applicability for the supply of electronic devices in the UAE

Attention – Electronic Industry

HLB HAMT News Team
Effective date: 30.10.2023

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HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 50 677 5860
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com

    Schedule a Consultation




    Implementing Value Added Tax (VAT) Reverse Charge Mechanism (RCM) for electronic devices from 30th October 2023 involves several key steps and considerations. Below are some important notes and steps to help you implement RCM VAT on electronic devices effectively:

    • Supplier Communication

      Communicate with your suppliers, informing them of the transition to RCM for electronic devices. This is important to ensure they issue invoices in compliance with RCM rules.

    • Customer Communication

      Inform your regular customers about the new RCM applicability as well as the necessary paperwork and compliance requirements.

    • Update Accounting Systems

      Adjust your accounting and invoicing systems to accommodate the new RCM requirements. This may involve changes to your software and processes.

    • Invoice Review

      Review invoices from your suppliers carefully to ensure they are line with the Legislation.

    • Stock Valuation

      Ensure that physical closing stock as on 30th October is matching with the system stock and no discrepancies exists.

    • Consultation with Tax Experts

      Consider consulting a tax professional or expert who is knowledgeable about VAT and RCM. They can provide specific guidance based on your location and circumstances.

    The new RCM applicability will have a significant change in your tax compliance procedures, and it’s important to approach it with care and diligence.

    How HLB HAMT can help?

    Having a proficient tax team is essential for providing comprehensive & effective support to clients navigating the complexities of taxation. A strong tax team combines expertise, collaboration, and a client-centric approach to ensure optimal tax strategies and compliance.

    Our tech-driven professionals ensure that we make use of the latest technologies to provide accurate and effective results to clients. Moreover, we are first among the few registered tax agents at Federal Tax Authority enabling us to provide the best in quality services.

    Any questions or queries on this, please revert to tax@hlbhamt.com

     

     

    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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    HLB HAMT’s Intelligent Automation & AI Centre Of Excellence

    HLB HAMT News Team

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    HLB HAMT - Accounting Firm in UAE

    Phone:- +971 4 327 7775
    Mobile:- +971 52 830 7998
    WhatsApp:- +971 56 219 1607
    Email:- dubai@hlbhamt.com

      Schedule a Consultation




      At the recently concluded GITEX Global 2023, Automation Anywhere, a global leader in Intelligent Automation and Artificial Intelligence (AI), appointed HLB HAMT as a partner to serve as a Centre of Excellence (CoE) in the UAE and beyond. The creation of a Robotic Process Automation Centre of Excellence (RPA CoE) by the company highlights how important it is for HLB HAMT to lead the digital transformation of the solutions it offers to the public and commercial sectors.

      Automation Anywhere is renowned for offering the most extensively used AI-powered automation platform available and for cultivating a community centred around making end-to-end process automation possible for businesses of all sizes.

      The CoE centre at HLB HAMT will provide a wide range of cross-functional capabilities, identifying and implementing effective solutions customized for businesses in certain industries, in close partnership with Automation Anywhere. These include modern analytics and artificial intelligence (AI), digital consultancy, and smooth integration and automation. In addition, HLB HAMT offers customized solutions for Sage X3 and SAP Business One in addition to other flexible platform options to meet a range of digital needs.

      The HLB HAMT CoE hub is a painstakingly crafted, cross-functional hub dedicated to enabling companies and government agencies to fully grasp the potential of automation and achieve observable, practical outcomes. The role of a Centre of Excellence (CoE) in automation is crucial for the successful implementation and management of automation initiatives within an organization. A CoE will act as a centralized entity responsible for establishing best practices, providing expertise, and driving automation adoption for our clients. Our CoE can implement end-to-end Hyper-intelligent automation solutions for organizations of all sizes. What sets us apart is our unique methodology, which begins with examining key areas that require automation and triggers our automation journey.

      Moving forward, our team will closely work with Automation Anywhere as a team to ensure a seamless integration and successful execution of the upcoming projects.

      Mr. John Varghese, Managing Partner of HLB HAMT, commented on the CoE development, saying, “We are excited to start this revolutionary journey with Automation Anywhere”.

      This significant advancement highlights our joint commitment with the AA to provide digital innovation, operational effectiveness, and cost savings for businesses in the UAE and beyond.

      HLB HAMT CEO Mr. Vijay Anand continued, “The Intelligent automation CoE at HLB HAMT will harness the full potential of robotic process automation and ensure its successful implementation across the organization.

      Mr. Manoj Kumar, Senior Partner at HLB HAMT, spoke on the CoE’s deployment and stated, “We firmly believe that establishing a CoE for intelligent automation is essential for organizations looking to maximize RPA’s potential. Drawing on our extensive experience and expertise.

      HLB HAMT has an impeccable track record in delivering financial and advisory services,” stated Mr. Raj Mistry, Executive Vice President of Sales and General Manager of Automation Anywhere in the EMEA region. Additionally, their knowledge, openness to new ideas and technology, and forward-thinking vision perfectly match our objective of automating business process transformation. As a team, we can effectively propel innovation and optimize processes for our clients, generating a synergy that will allow us to keep changing the digital world.

      HLB HAMT is a professionally expanding company that is currently listed as the 7th largest auditing and tax advice firm in the United Arab Emirates and 10th globally. The organization has approximately 200 professionals and a team of 14 partners that focus on providing audit, tax, advisory, and consulting services. HLB HAMT is ideally positioned to serve domestic and foreign clients, providing a global perspective and individualized care, from its seven strategically placed offices.

       

       

      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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      Payroll Outsourcing in the UAE: Frequently Asked Questions and Answers

      HLB HAMT Team

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      HLB HAMT - Accounting Firm in UAE

      Phone:- +971 4 327 7775
      Mobile:- +971 50 205 9540
      WhatsApp:- +971 56 219 1607
      Email:- dubai@hlbhamt.com

        Schedule a Consultation




        Do you ever feel like you’re spending too much time on payroll? Do you worry about making mistakes that could cost your business money? If so, you’re not alone. Payroll can be a complex and time-consuming process, especially for businesses in the UAE.

        That’s where payroll outsourcing comes in. By outsourcing your payroll to a professional company, you can save time, money, and stress. But with so many payroll outsourcing companies to choose from, how do you know which one is right for you?

        In this blog, we will answer some of the most frequently asked questions about payroll and payroll outsourcing in the UAE, and explore how HLB HAMT’s outsourcing services can help your business save time, money, and stress.

        What is Payroll Outsourcing in UAE?

        Payroll outsourcing is the process of delegating payroll duties to a third-party company. This can be a cost-effective and time-saving solution for businesses of all sizes.

        What are the benefits of using a payroll outsourcing company?

        There are many benefits to using a payroll outsourcing company, including:

        • Compliance: Payroll outsourcing companies have the expertise and experience to ensure that your payroll is accurate and compliant with all applicable laws and regulations.
        • Time savings: Outsourcing payroll can free up your time so you can focus on other important business tasks.
        • Reduced costs: Outsourcing payroll can be more cost-effective than managing payroll in-house, especially for small businesses.
        • Security: Payroll outsourcing companies have robust security measures in place to protect your sensitive employee data.

        How do I choose a payroll outsourcing company in UAE?

        When choosing a payroll outsourcing company, it is important to consider the following factors:

        • Experience and expertise: Choose a payroll outsourcing company with experience and expertise in your industry.
        • Services offered: Make sure that the payroll outsourcing company offers the services that you need.
        • Security: Choose a payroll outsourcing company with robust security measures in place to protect your sensitive employee data.
        • Customer service: Choose a payroll outsourcing company with a good reputation for customer service.

        How much does your payroll outsourcing service cost?

        The cost of our payroll outsourcing service varies depending on the size and complexity of your payroll.

        How do I get started with HLB HAMT’s payroll outsourcing service?

        To get started with HLB HAMT’s payroll outsourcing service, simply follow these steps:

        • Contact us: You can contact us by phone, email, or through our website. We will schedule a free consultation to discuss your specific needs and answer any questions you may have.
        • Get a quote: Once we have a good understanding of your needs, we will provide you with a quote for our services.
        • Set up your account: Once you have accepted our quote, we will work with you to set up your account and transition your payroll to our system.
        • Relax and let us take care of the rest: We will handle all aspects of your payroll processing, from calculating pay to filing taxes. You can focus on running your business, knowing that your payroll is in good hands.

        Why was HLB HAMT selected as a payroll partner in UAE?

        In the UAE, HLB HAMT is the leading provider of payroll services, including payroll outsourcing. Our team of employees is made up of skilled and knowledgeable individuals that are committed to giving our customers the best possible service.

        Here are just a few of the reasons why you should choose HLB HAMT as your payroll partner:

        • Time savings: By outsourcing your payroll to us, you can free up your time so you can focus on other important business tasks.
        • Reduced costs: Our payroll outsourcing services are very cost-effective, especially for small businesses.
        • Security: We have robust security measures in place to protect your sensitive employee data.
        • Customer service: Excellent customer service is something we take great pride in offering to our clientele.

        Conclusion

        If you’re looking for a way to streamline your payroll process and save time and money, then payroll outsourcing is the right solution for you. And if you’re looking for a reliable and experienced payroll outsourcing company in the UAE, then look no further than HLB HAMT.

        We offer a comprehensive range of payroll services to meet the needs of businesses of all sizes. Contact us today for a free consultation and see how we can help you take the headache out of payroll.

        Call our experts at +971 4 327 7775 or email payroll@hlbhamt.com to schedule a consultation.

         

         

        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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        RPA CoE: Driving Efficiency and Innovation

        Vimal Ramachandran, Director

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        HLB HAMT - Accounting Firm in UAE

        Phone:- +971 4 327 7775
        Mobile:- +971 52 830 7998
        WhatsApp:- +971 56 219 1607
        Email:- dubai@hlbhamt.com

          Schedule a Consultation




          We have some fantastic news to share with all of you. Our company has successfully won a major partnership with Automation Anywhere are we are now officially their Centre of Excellence (CoE) partner. In this article, I will be explaining what RPA CoE is and how it benefits organizations.

          In today’s fast-paced digital landscape, organizations are constantly seeking ways to streamline their operations, enhance productivity, and optimize resource allocation. Robotic Process Automation (RPA) has emerged as a powerful solution to automate repetitive and rule-based tasks, freeing up human talent to focus on more strategic and value-added activities. Our team can help your organization establish a Robotic Process Automation Centre of Excellence (RPA CoE) to harness the full potential of RPA and ensure its successful implementation across the organization.

          What is an RPA CoE?

          A Robotic Process Automation Centre of Excellence is an organization’s dedicated team or department that serves as a centralized hub for managing, developing, and governing RPA initiatives. It acts as a strategic enabler, driving the adoption and implementation of RPA across various business units and functions. The primary objective of an RPA CoE is to promote best practices, standardize processes, and facilitate collaboration between stakeholders involved in RPA projects.

          Key Functions and Responsibilities:

          • Strategy and Governance: The RPA CoE is responsible for formulating the organization’s RPA strategy, defining goals, and establishing governance frameworks. It ensures alignment between RPA initiatives and the organization’s overall objectives, policies, and compliance requirements.
          • Process Assessment and Selection: The CoE thoroughly analyzes existing processes to identify potential candidates for automation. It collaborates with business units to assess the feasibility and suitability of processes for RPA implementation, considering factors such as complexity, volume, and stability.
          • RPA Development and Deployment: The CoE oversees the development, configuration, and deployment of RPA bots. It collaborates with IT and development teams to ensure seamless integration with existing systems and infrastructure. The CoE also establishes development standards, testing methodologies, and quality assurance processes to deliver reliable and robust automation solutions.
          • Training and Knowledge Sharing: The CoE plays a crucial role in building RPA capabilities within the organization. It provides training programs to educate employees on RPA concepts, tools, and best practices. Additionally, the CoE fosters a culture of knowledge sharing by documenting lessons learned, creating repositories of reusable components, and facilitating forums for RPA practitioners to exchange ideas and experiences.
          • Performance Monitoring and Continuous Improvement: The CoE monitors the performance of deployed bots, tracks key performance indicators (KPIs), and identifies opportunities for optimization and enhancement. It leverages analytics and data-driven insights to drive continuous improvement, ensuring that RPA initiatives deliver the desired outcomes and benefits.

          Benefits of an RPA CoE:

          • Accelerated RPA Adoption: An RPA CoE provides a structured approach to RPA implementation, enabling organizations to scale automation efforts rapidly. It centralizes expertise, resources, and best practices, reducing duplication of efforts and promoting consistent standards across the organization.
          • Enhanced Governance and Compliance: The CoE establishes governance frameworks and compliance guidelines to ensure that RPA initiatives adhere to regulatory requirements and internal policies. It facilitates risk assessment and mitigation, promoting automation processes’ transparency, accountability, and auditability.
          • Knowledge Sharing and Collaboration: The CoE serves as a knowledge hub, fostering collaboration and cross-functional learning. It encourages RPA practitioners to share insights, challenges, and solutions, creating a community of expertise that drives innovation and continuous improvement.
          • Improved Efficiency and Cost Savings: By automating repetitive tasks, RPA reduces errors, improves process speed, and enhances operational efficiency. The CoE identifies and prioritizes processes for automation, maximizing the impact on productivity and cost savings.
          • Strategic Focus and Innovation: With mundane tasks automated, employees can shift their focus to higher-value activities that require creativity, critical thinking, and strategic decision-making. The CoE promotes innovation by exploring emerging technologies, such as artificial intelligence and machine learning, to augment RPA capabilities and explore new automation opportunities.

          The CoE Team

          • Executive Sponsor: Senior executive(s) who promote RPA and show why it needs to be a priority for your company can serve as executive sponsors.
          • CoE Lead: This person is in charge of planning and implementing your RPA effort, allocating resources according to a budget and timetable, and modifying priorities and job assignments as necessary.
          • Change Facilitator: This metric-focused individual makes sure that everything moves forward on schedule and within budget. Additionally, they concentrate on initiatives for change management to get your team ready for change. They also spearhead initiatives to upskill and train staff to support the new technologies in order to enable this.
          • Business Process Owners: These workers speak for your company’s numerous departments. They offer to map out and make adjustments to the end-to-end processes using their extensive knowledge of them. By doing this, you can make sure that bots are used in each department’s most productive and efficient areas.
          • Developers: To maintain the integrity of the RPA bots, these highly skilled workers oversee the design and testing of your automation initiatives.
          • Support Team: To manage the required infrastructure and integrations with legacy systems, the support team will speak directly with IT. They will also be in charge of troubleshooting when problems with RPA servers or infrastructure occur.
          • Champions: These RPA evangelists look for RPA use cases across departments while promoting the technology to staff members.
          • Architects: These technical staff members take the suggestions made by the RPA Champions, speak with the business process owners directly, and then put the suggestions into action.
          • Bot Wrangler: To oversee, manage, and regulate each BOT to ensure continual development and maximum effectiveness.

          Based on our experience and expertise in this area, we believe establishing a Robotic Process Automation Centre of Excellence is a strategic imperative for organizations seeking to harness the full potential of RPA. Our knowledgeable staff will oversee the entire RPA lifecycle, from spotting lucrative RPA prospects to looking at how to best utilize installed bots. By providing a centralized governance structure, standardized processes, and expertise sharing, the CoE empowers organizations to drive efficiency, achieve cost savings, and foster innovation. With the right leadership, collaboration, and commitment to continuous improvement, an RPA CoE can become a catalyst for organizational transformation in the digital age.

           

           

          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
          js_loader

          Hiring Business Consultants to Grow Your Business in Dubai

          HLB HAMT Team

          image

          HLB HAMT - Accounting Firm in UAE

          Phone:- +971 4 327 7775
          Mobile:- +971 55 160 1291
          WhatsApp:- +971 56 219 1607
          Email:- dubai@hlbhamt.com

            Schedule a Consultation




            It might be difficult to comprehend the complexity of company registration and achieve sustainable growth in Dubai’s intensely competitive business environment. You may, however, overcome these obstacles and position yourself for success with the assistance of an experienced business consultant. With their expertise and in-depth knowledge of the local market, these consultants provide invaluable guidance and support to both startups and established businesses.

            In this blog, we will explore the key benefits of hiring business setup consultants in Dubai and how they can assist in company formation while helping businesses navigate legal and regulatory requirements.

            Key Benefits of Hiring Business Setup Consultants in Dubai

            1. Streamlined Company Formation and Setup

              When it comes to establishing a business in Dubai, the process can be intricate and time-consuming. Business consultants in Dubai specialize in company formation and have a comprehensive understanding of the legal and regulatory landscape. They help streamline the process by guiding entrepreneurs through each step, from selecting the appropriate business structure to obtaining licenses and permits. This expertise saves valuable time and ensures compliance with local regulations.

            2. Market Insights and Strategy Development

              Business consultants in Dubai possess a deep understanding of the local market dynamics, consumer behavior, and industry trends. By conducting thorough market research, they provide valuable insights that enable businesses to make informed decisions. Consultants assist in developing effective strategies tailored to the Dubai market, helping businesses gain a competitive edge and maximize growth opportunities.

            Assistance in Company Formation and Setup

            1. Expertise in Business Structure Selection:

              Choosing the right business structure is crucial for success in Dubai. Business consultants help entrepreneurs evaluate the available options, such as Limited Liability Companies (LLC), Free Zone Companies, or Branch Offices, considering factors such as ownership regulations, liability, and tax implications. This guidance ensures businesses select the most suitable structure aligned with their goals and requirements.

            2. Licensing and Regulatory Compliance:

              Navigating the legal and regulatory landscape in Dubai can be complex. Business consultants assist in understanding the specific licensing requirements for different business activities and industries. They guide businesses through the application process, ensuring all necessary documents are prepared accurately and submitted on time. This expertise minimizes the risk of delays or rejections, enabling businesses to commence operations smoothly.

            Navigating Legal and Regulatory Requirements with Business Setup Consultants

            • Compliance with Business Laws and Regulations:

              Dubai has specific business laws and regulations that companies must adhere to. Business consultants assist in understanding and complying with these regulations, covering areas such as labor laws, intellectual property rights, commercial contracts, and data protection. Their expertise ensures businesses operate within the legal framework, mitigating potential risks and penalties.

            • Government Liaison and Documentation:

              Interacting with government authorities and obtaining the necessary approvals can be a complex process. Business consultants in Dubai act as liaisons between businesses and government entities. They handle documentation, facilitate communication, and ensure all requirements are fulfilled, saving businesses valuable time and effort.

             

            Conclusion

            Hiring business consultants in Dubai offers numerous advantages for businesses seeking success in this thriving and competitive market. From streamlined company formation to market insights, strategy development, and navigating legal requirements, these consultants provide invaluable expertise and support. By leveraging their knowledge and experience, businesses can overcome challenges, optimize operations, and achieve sustainable growth in Dubai’s dynamic business landscape.

            Contact HLB HAMT today for expert guidance and assistance in the launching and growth of your business in the UAE.

             

             

            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
            js_loader

            The Importance of Obtaining a Regulated License in the UAE

            HLB HAMT Team

            image

            HLB HAMT - Accounting Firm in UAE

            Phone:- +971 4 327 7775
            Mobile:- +971 55 160 1291
            WhatsApp:- +971 56 219 1607
            Email:- dubai@hlbhamt.com

              Schedule a Consultation




              The United Arab Emirates (UAE) provides a favorable environment for businesses across various industries. However, certain activities require a regulated license to ensure compliance with local laws and regulations. In this blog, we will delve into the concept of a regulated license in the UAE, explore the industries or activities that necessitate such a license, outline the steps involved in obtaining one, and highlight the role of business consultants in the licensing process.

              Regulated Licenses in the UAE: An Overview

              A regulated license in the UAE is an official authorization issued by the relevant regulatory authorities. It grants permission for businesses to engage in specific industries or activities while ensuring compliance with legal requirements. Obtaining a regulated license is essential for businesses to operate legally, maintain regulatory compliance, and instill trust and confidence among clients and stakeholders.

              Industries or Activities Requiring a Regulated License in the UAE

              • Financial Services:

                Financial activities such as banking, insurance, asset management, securities trading, and money exchange require a regulated license. This ensures that businesses in these sectors adhere to stringent regulations to protect clients and maintain the integrity of the financial industry.

              • Healthcare and Pharmaceutical:

                Healthcare facilities, medical clinics, pharmacies, and pharmaceutical manufacturing and distribution companies require a regulated license. These licenses ensure compliance with quality standards, patient safety, and the responsible handling of pharmaceutical products.

              • Education and Training:

                Schools, universities, vocational training centers, and tutoring services require a regulated license to operate in the UAE. These licenses ensure that educational institutions meet the necessary standards, maintain qualified faculty, and provide quality education and training.

              Steps Involved in Obtaining a Regulated License in the UAE

              1. Research and Planning:

                Conduct thorough research to understand the specific requirements and regulations related to your industry or activity. Develop a comprehensive business plan and determine the type of regulated license you need.

              2. Company Formation and Legal Structure:

                Establish a legal entity in the UAE, such as a Limited Liability Company (LLC) or a Free Zone Company. Choose the most suitable structure based on your business requirements and the regulations governing your industry.

              3. Documentation and Application Submission:

                Prepare all the necessary documentation, including business plans, financial statements, lease agreements, and compliance manuals. Submit the application for the regulated license to the relevant regulatory authority, ensuring accuracy and completeness.

              4. Compliance and Inspections:

                Upon submission of the application, the regulatory authority may conduct inspections to verify compliance with regulations. Cooperate fully and address any inquiries or additional requirements promptly and effectively.

              Procedure for Obtaining a Regulated License in the UAE

              Engaging the services of business consultants can greatly facilitate the process of obtaining a regulated license in the UAE.

              1. Expert Guidance and Compliance:

                Business consultants possess in-depth knowledge of the regulatory landscape and can provide expert guidance on the specific requirements for your industry or activity. They ensure that your business complies with the necessary regulations and standards.

              2. Documentation and Application Preparation:

                Consultants assist in preparing the required documentation, ensuring that all information is accurate, complete, and aligned with the regulatory guidelines. They optimize the application process, increasing the chances of a successful license acquisition.

              3. Liaison with Regulatory Authorities:

                Business consultants act as intermediaries between your company and the regulatory authorities. They communicate with the authorities on your behalf, addressing any inquiries or additional requirements promptly and efficiently.

              4. Ongoing Compliance Support:

                Even after obtaining the regulated license, consultants provide ongoing compliance support. They help your business stay updated with regulatory changes, conduct periodic audits, and assist with compliance-related tasks, ensuring continued adherence to the regulations.

              Conclusion

              Obtaining a regulated license is essential for businesses operating in specific industries or activities in the UAE. By understanding the concept of a regulated license, identifying the industries that require it, and following the necessary steps, you can navigate the process effectively. Engaging the services of business consultants can further streamline the licensing journey, ensuring compliance and increasing the likelihood of a successful license acquisition.

              HLB HAMT to Assist!

              HLB HAMT can help businesses understand the specific regulatory requirements for their industry or activity, including the type of license required, the documentation required, and the application process. We have a team of experienced and knowledgeable professionals who can help businesses of all sizes through the regulated licensing process.

               

               

              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
              js_loader

              Sales Audits: Your Burning Questions Answered

              HLB HAMT Team

              image

              HLB HAMT - Accounting Firm in UAE

              Phone:- +971 4 327 7775
              Mobile:- +971 56 147 0259
              WhatsApp:- +971 56 219 1607
              Email:- dubai@hlbhamt.com

                Schedule a Consultation




                Sales audits are an essential tool for businesses looking to optimize their sales performance and stay ahead of the competition. A comprehensive examination of a company’s sales process, performance, and records, a sales audit helps identify discrepancies, inefficiencies, and areas for improvement. By addressing common queries surrounding sales audits, this blog post aims to provide valuable insights and guidance for businesses looking to improve their sales strategies.

                In this blog post, we will discuss some of the most frequently asked questions about sales audits, including what triggers a sales tax audit and how businesses can reduce the risks associated with it. We will also explore the common challenges in sales and use tax audits and provide tips on how businesses can overcome them.

                What exactly is a sales audit, and what makes it crucial?

                A sales audit is a comprehensive examination of a company’s sales process, performance, and records to identify any discrepancies, inefficiencies, or areas for improvement. It helps businesses ensure compliance with regulations, identify potential risks, and optimize their sales strategies.

                Who conducts sales audits and how do they do it?

                Sales audits are often conducted by sales auditors, who can be internal employees of the company or external professionals hired for the task. These auditors possess the expertise and knowledge to assess sales processes, analyze data, and identify areas of improvement. They follow a systematic approach, examining sales records, conducting interviews, and utilizing audit checklists to evaluate the effectiveness of the sales process.

                What triggers a sales tax audit and how can you reduce the risks?

                Sales tax audits are often triggered by factors such as inconsistent reporting, high-risk industries, or random selection. To reduce the risks associated with sales tax audits, it is crucial to have a thorough understanding of tax regulations and maintain accurate records. Implementing robust tax compliance procedures, conducting periodic internal audits, and seeking professional advice can help minimize the chances of an audit.

                What are the common challenges in sales audit?

                Sales audits come with their own set of challenges. Failure to manage process and timing, lack of responsiveness, and inadequate documentation can all lead to complications during an audit. It is essential for businesses to be proactive, organized, and prepared to address these challenges effectively.

                What services does HLB HAMT provide in relation to sales audits?

                HLB HAMT’s services include a review of daily sales with supporting documents, the preparation and issuance of sales audit reports as per the terms of the lease agreement, and consultation on any queries you may have regarding the reporting requirements.

                Conclusion

                Conducting a sales audit is vital for businesses seeking to optimize their sales performance. At HLB HAMT, we understand the significance of sales audits in today’s competitive business landscape. Our team of experts is dedicated to helping businesses optimize their sales performance and achieve their goals. 

                By leveraging our expertise and knowledge, we can help businesses identify areas of improvement, develop effective sales strategies, and stay compliant with regulations. Don’t wait any longer, take the first step towards improving your sales performance by conducting a sales audit today!

                Contact our experts to schedule a consultation.

                 

                 

                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
                js_loader

                Transfer Pricing in the UAE: Frequently Asked Questions

                HLB HAMT Team

                image

                HLB HAMT - Accounting Firm in UAE

                Phone:- +971 4 327 7775
                Mobile:- +971 50 677 5860
                WhatsApp:- +971 56 219 1607
                Email:- dubai@hlbhamt.com

                  Schedule a Consultation




                  Transfer pricing is a complex topic, but it is essential for businesses with global operations to understand. In the UAE, transfer pricing regulations are aligned with the OECD Transfer Pricing Guidelines, which set forth the arm’s length principle as the standard for pricing transactions between related entities.

                  We will answer some of the most popular queries in this blog post:

                  How can businesses handle transfer pricing disputes?

                  When faced with a transfer pricing dispute, businesses can take several steps to resolve the issue. This may include engaging in discussions and negotiations with tax authorities, providing supporting documentation and analysis to justify the transfer pricing policy, and, if necessary, pursuing alternative dispute resolution methods such as advance pricing agreements or competent authority procedures.

                  What are the recent developments in transfer pricing regulations?

                  Transfer pricing regulations are constantly evolving. It is important for businesses to stay up-to-date with the latest developments to ensure compliance. Recent trends include increased scrutiny by tax authorities, the implementation of country-by-country reporting requirements, and efforts to address the challenges posed by the digital economy.

                  How does transfer pricing impact intellectual property (IP) transactions?

                  Transfer pricing rules play a crucial role in determining the appropriate pricing for transactions involving the transfer or use of intellectual property. Businesses must carefully consider the value and contributions of IP assets, the functions performed, and the risks assumed by each related entity to ensure proper allocation of profits and compliance with transfer pricing regulations.

                  How can businesses manage transfer pricing in a digital economy?

                  The digital economy presents unique challenges for transfer pricing. Businesses engaged in digital transactions must navigate issues such as determining the value of data, allocating profits to different jurisdictions, and addressing the potential for value creation in intangible assets. OECD guidelines and local regulations provide guidance on how to approach transfer pricing in the digital economy.

                  What is the role of transfer pricing documentation in compliance?

                  Transfer pricing documentation is essential for demonstrating compliance with transfer pricing regulations. It typically includes a detailed analysis of the controlled transactions, comparability analysis, functional and risk analysis, and a description of the transfer pricing methods used. Adequate documentation helps businesses support their transfer pricing policies and defend them in the event of a tax audit or dispute.

                  How can businesses optimize their transfer pricing strategies?

                  Optimizing transfer pricing strategies involves aligning them with the overall business objectives, complying with regulations, and minimizing tax risks. This can be achieved through proactive planning, careful analysis of functions and risks, consideration of economic substance, and leveraging available transfer pricing methods to achieve the desired tax outcomes while ensuring compliance with the arm’s length principle.

                  Conclusion

                  Transfer pricing is a critical consideration for businesses with global operations, and the UAE is no exception. By understanding the transfer pricing regulations and implementing appropriate pricing strategies, businesses can minimize tax risks, ensure compliance, and achieve their overall business objectives.

                  If you have any questions or need assistance with transfer pricing in the UAE, please do not hesitate to contact our experts at HLB HAMT. Call our experts at +971 4 327 7775 or email tax@hlbhamt.com to schedule a consultation.

                   

                   

                  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
                  js_loader

                  ICV Certification in UAE: Frequently Asked Questions

                  HLB HAMT Team

                  image

                  HLB HAMT - Accounting Firm in UAE

                  Phone:- +971 4 327 7775
                  Mobile:- +971 50 749 0576
                  WhatsApp:- +971 56 219 1607
                  Email:- dubai@hlbhamt.com

                    Schedule a Consultation




                    ICV Certification is a significant milestone for businesses in the UAE. In this blog, we will address some common queries about ICV Certification in UAE and provide valuable insights for businesses interested in obtaining this certification. As experts in the field, HLB HAMT aims to help you understand the significance of ICV Certification for your business.

                    What are the specific requirements of ICV Certification?

                    ICV Certification requirements may vary depending on the country and program. However, some common criteria include local procurement, employment of local workforce, technology transfer, and investment in local infrastructure. At HLB HAMT, we can assist you in understanding the specific requirements of the ICV Certification program in your country and guide you through the process of meeting those requirements.

                    How can HLB HAMT support businesses in obtaining ICV Certification?

                    At HLB HAMT, we have a team of experts who specialize in ICV Certification. We can provide comprehensive guidance and support throughout the certification process. Our services include assessing your current operations, identifying areas for improvement, and developing strategies to meet the ICV Certification requirements. We will work closely with your team to ensure a smooth and successful certification journey.

                    What are the benefits of ICV Certification for businesses?

                    Obtaining ICV Certification can bring significant benefits to your business. It can enhance your reputation as a socially responsible organization and open doors to new business opportunities, including preferential treatment in government procurement. ICV Certification also demonstrates your commitment to the local economy and sustainable development, which can attract investors and stakeholders who prioritize these values. ICV Certification can also enhance your reputation and open doors to new business opportunities in the private sector.

                    How long does it take to obtain ICV Certification?

                    The duration of obtaining ICV Certification can vary depending on factors such as the complexity of your operations and the certification process in your country. At HLB HAMT, we will work closely with you to streamline the process and help you obtain certification within a reasonable timeframe. Our experts will guide you on document preparation, internal process improvements, and any necessary audits to expedite the certification process.

                    Bottom Line!

                    ICV Certification is a valuable recognition for businesses that contribute to the local economy and sustainable development. Obtaining ICV Certification can be a challenging task, but with the right guidance, it can be a valuable recognition for your business. 

                    At HLB HAMT, we understand the significance of ICV Certification and are committed to helping businesses in UAE navigate the process successfully. Our team of experts will provide tailored guidance and support to ensure that you meet the requirements and obtain certification within a reasonable timeframe.

                    Call our experts at  +971 4 327 7775 or email audit@hlbhamt.com to schedule a consultation.

                     

                     

                    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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                    Unveiling the Power of Financial Statement Audits in UAE

                    HLB HAMT Team

                    image

                    HLB HAMT - Accounting Firm in UAE

                    Phone:- +971 4 327 7775
                    Mobile:- +971 50 749 0576
                    WhatsApp:- +971 56 219 1607
                    Email:- dubai@hlbhamt.com

                      Schedule a Consultation




                      In today’s business environment, organizations of all sizes understand the criticality of upholding financial transparency. Whether you are a small and medium-sized enterprise (SME) or a larger corporation, conducting a financial statement audit plays a vital role in establishing trust with stakeholders, including investors, clients, and regulatory authorities.

                      This blog will explore the five most pressing questions and related answers which highlights the importance of financial statement audits in the UAE and demonstrate how HLB HAMT, a prominent audit service provider, can support you in this endeavor.

                      Why is a financial statement audit important?

                      • Enhancing Credibility: By conducting a financial statement audit, companies can enhance their credibility and build trust with stakeholders. This is particularly important for SMEs looking to attract potential investors or secure financing.
                      • Ensuring Compliance: A financial statement audit ensures that a company is in compliance with the International Financial Reporting Standards (IFRS) and other regulatory requirements. By doing this, fines, legal problems, and reputational harm to the business are avoided.
                      • Identifying Financial Risks: An audit can help identify potential financial risks and weaknesses in internal controls. By uncovering these risks, companies can take corrective measures to mitigate them, ensuring the long-term sustainability of the business.
                      • Facilitating Decision Making: Accurate and reliable financial statements provide management with valuable insights for decision making. By having a clear understanding of the financial position and performance of the company, management can make informed strategic decisions.

                      Why should I choose HLB HAMT for my financial statement audit?

                      HLB HAMT is a leading audit firm in the UAE with extensive experience in conducting financial statement audits. Our team of professionals has in-depth knowledge of the local regulatory framework and international accounting standards, ensuring that your audit is conducted with the highest level of expertise.

                      How long does a financial statement audit take?

                      The duration of an audit depends on the size and complexity of the company. Our team at HLB HAMT works efficiently to minimize disruption to your business operations and complete the audit within a reasonable timeframe.

                      What deliverables can I expect from a financial statement audit?

                      At the completion of a financial statement audit, you will receive a comprehensive audit report that includes an opinion on the fairness of your financial statements, highlighting any significant findings or areas for improvement.

                      Can HLB HAMT assist with other financial services?

                      Absolutely! In addition to financial statement audits, HLB HAMT offers a wide range of financial services including tax consulting, risk management, and business advisory. Your whole financial demands will be satisfied under one roof with our holistic approach.

                      Conclusion:

                      A financial statement audit is an indispensable procedure for companies operating in the UAE. It not only enhances credibility and trust but also ensures compliance with international financial reporting standards and regulatory requirements. Additionally, an audit helps identify financial risks and weaknesses, enabling businesses to take corrective measures and secure their long-term sustainability. Furthermore, accurate and reliable financial statements provide valuable insights for informed decision-making by management.

                      With HLB HAMT’s team of professionals and extensive expertise, you can rely on us as your trusted partner for all your financial statement audit needs.

                      Contact us today at +971 4 327 7775 or email audit@hlbhamt.com to ensure trust and transparency in your financial reporting.

                       

                       

                      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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