Services
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
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Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
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Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
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Financial Reporting Advisory Services (FRAS)
Our team provides timely advice on the impact of accounting changes to assist businesses in the development of an appropriate implementation roadmap.
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
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Business Risk Services
Organisations need to understand risks thoroughly to be able to manage them better. Grant Thornton UAE helps businesses achieve the best balance between minimising risk exposure, optimising profitability and developing compliance review checklists.
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Regulatory Advisory Services
Grant Thornton UAE's extensive understanding of the overarching supervisory framework within the region equips our professionals to support financial institutions comply and abide by the set of regulatory mandates throughout the rapidly evolving ecosystem.
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Financial Advisory
Grant Thornton UAE works with organisations on transactions from start to finish, assisting with strategy, identifying risks, executing deals, and helping to unlock their potential for growth and value creation.
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Restructuring Advisory
Grant Thornton UAE is committed to realising value for shareholders, in a way that recognises and supports the interests of all stakeholders. Our solutions maximise value, provide clarity and direction, and accelerate recovery and transformation for businesses.
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Technology Advisory & Cybersecurity
IT and technology are fundamental to drive the performance of businesses. Through leveraging the power of technology, Grant Thornton UAE helps organisations define and identify growth opportunities to achieve value-driven transformation and innovation.
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Forensics
Fraud and corruption pose a growing challenge worldwide. As the commercial landscape changes, an increasingly regulated environment requires stringent governance and compliance processes. Grant Thornton UAE helps organisations navigate challenges and crisis with a hands-on approach coupled with the use of technology.
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ESG Services
The Environment, Social and Governance (ESG) agenda has gained significant traction over the years, to become one of the key strategic aspects of any business. It is imperative that all organisations, irrespective of industry sector, engage with their stakeholders and prioritise ESG practices to unlock sustainable growth opportunities.
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Business Process Solutions
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core business goals.
Tax policy reforms and the introduction of new tax regulations across the GCC are creating huge challenges for organisations. Grant Thornton UAE offers a...
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Corporate Tax
Our diversified team of corporate tax subject matter experts combines a perfect blend of international experience across several industry sectors, technical expertise, and commercial nuances with a commitment to deliver exceptional value to your business.
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VAT
The VAT team at Grant Thornton is well versed with the VAT Laws applicable across the region and holds valuable experience and professional accreditation in assisting clients across diverse industries to comply with the VAT obligations.
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Transfer Pricing
Grant Thornton UAE assists its clients in providing transfer pricing solutions that are implementable and operational, considering the facts and concerns of its clients.
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International Tax and Tax Due Diligence
Grant Thornton UAE supports multinational groups to optimise their tax structures. We can also assist businesses in analysing existing group transactions and inter-group supplies, as well as advising on potential implications of various taxes to facilitate an efficient Group tax structure.
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Economic Substance Requirements
Economic Substance rules were introduced in the UAE in 2019, requiring UAE businesses that undertake certain ‘Relevant Activities’ to maintain and demonstrate adequate substance.
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Customs and International Trade
The team at Grant Thornton is positioned centrally to assist the businesses with global cross-border tax structuring, planning and compliance needs.
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Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
As China and the Middle East region strengthen their ties, Grant Thornton UAE has launched a China Desk to facilitate the entry of Chinese businesses into the...
VAT
VAT Alert: VAT refund for Exhibitions and Conferences
30 May 2018The UAE Federal Tax Authority (FTA) has published a user guide titled ‘VAT Refund for Exhibitions and Conferences’ following the UAE Cabinet’s decision entitling facilities operating in the exhibitions and conferences sector to a refund of VAT imposed on the services provided to international customers.
The guide provides information on the:
- mechanism to claim a VAT refund
- licensing process for suppliers of exhibition and conference services
- registration requirements for international customers
Conditions to be satisfied to qualify for a refund
- The services supplied to customers fall within exhibition and conference services, examples of such services include situations where: the right to access, attend or participate in an exhibition or conference is granted, or the right to occupy space for conducting an exhibition or conference is granted;
- The recipient of exhibition and conference services does not have a place of establishment or a fixed establishment in the UAE;
- The recipient of the services is not registered or not required to be registered for VAT in the UAE;
- A written declaration has been obtained from the recipient confirming that the recipient does not have a place of establishment or a fixed establishment in the UAE in addition to the recipient no requiring to be registered for VAT in the UAE (Please refer to Appendix 3 of the user guide);
- The recipient has not paid any VAT amount to the supplier; and
- The supplier holds a license from the FTA for the scheme to be applicable as outlined in the user guide.
Mechanism to claim a refund
Assuming the aforementioned conditions are fulfilled, the supplier can request a VAT refund by submitting a VAT return related to the tax period in which the date of supply for exhibition and conference services was triggered. Additionally, the supplier needs be aware of the following points:
- Retain the original declaration provided by international customer;
- Provide the international customer with a tax invoice stating the applicable VAT with same amount listed as a VAT refund, highlighting that the supply falls under the special VAT refund scheme;
- No VAT is to be collected from an international customer;
- Report the VAT charged on the services in the relevant tax return. The supplier can claim a VAT refund by mentioning the amount (equal/ less than the VAT charged) in the adjustment column for the relevant emirate in Box 1 of the return; and
- Documents received and issued under the refund scheme should be retained for a period of 5 years from the end of the tax period in which the license has expired.
Registration requirements for international customers
The guide specifically sets out that international customers are required to register for VAT where such customers are engaged in the activity of selling any goods or services during an exhibition or conference. In such cases, the customers would be ineligible to obtain exhibition and conference services under the VAT refund scheme.
It is also imperative to note that while the non-resident event organiser would still be provided with a license to provide a VAT refund to non-resident customers, they would not be able to apply for a VAT refund for themselves in relation to any expenses incurred on the leasing of space.
To discuss how this impacts your business, please contact us.
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