“Edges of Business mergers and acquisitions.”

Business mergers and acquisitions

Business mergers and acquisitions present a practical plan for company expansion and new earnings streams to enhance bottom-line profitability. From raising market access and easing market competition to improving performance and bringing down production expenses, several mergers and acquisitions help make consolidation a lucrative and inviting opportunity for enterprises.

Top mergers and acquisitions advantages:-

Economies of Scope

Mergers and acquisitions advantages include economy of scope, which refers to the decrease in production expense of one product due to making another connected product.

Economies of Scale

Often, the end objective of a merger and acquisition is to recognize economic profits and economies of scale. It becomes feasible when the two firms interested in the merger and acquisition are more robust, effective, and efficient than apart.

Companies consolidate to reap benefits like improved access to capital, better bargaining leverage in the market, reduced expenses resulting from high volume production, and more.

Competitive Edge in the Market 

Mergers and acquisitions mean more significant financial strength for both parties involved in the dealing. In addition, greater economic authority can lead to a higher market stake, customer impact, and reduced competitive risks.

Access to Resources

Through the acquisition, firms in the same sector can occasionally enhance access to suppliers, materials, and tangible resources. For instance, one organization may acquire or merge with its suppliers to improve production processes and ensure access to essential materials.

Access to the Best Talent

The recruitment industry understands that talented workers are drawn to big names. Therefore, the bigger the firm, the better its access to the finest available talent. This trend is apparent across industries!

Diversification of Risk through Portfolio Divergence

Mergers and acquisitions in Dubai let businesses spread risk across various income streams by diversifying the firm’s products, services, and opportunities. So, if one earnings stream falls short, the company will still have several other revenue streams to fall back on and restart operations.

Access to New Markets

Getting into a new market can be tricky, even for verified businesses. While putting up a subsidiary or branch is always an alternative, a merger or acquisition can save businesses time, effort, and finances compared to beginning from scratch.

Cost-Effective Alternatives

Integrating with another business already furnished with your needed facilities is more cost-effective. Also, the transaction will bring all the other merger and acquisition advantages contributing to company success.

Merger and acquisition advantages are clear. However, companies need to enforce a suitable mergers and acquisitions plan to sustain the positive use of any investment or merger pursuit. Therefore, if you need merger and acquisition companies in UAE, contact Adepts Chartered Accountants today!

How can corporate tax consultants aid your firm?”

Corporate tax consultants

Multiple people are in a dilemma about managing the business. To run the business smoothly, hire corporate tax consultants to regularly handle tax computation, ITR filings, and bookkeeping. If the finance section of the firm is appropriately addressed, then half of the pressure on the business proprietors goes away.

In addition, the tax advisors, will help with Corporate Tax Filing services.

In the firm, you can employ an accountant, but they will be incapable of giving the professional pieces of guidance like the tax consultants would supply you. So instead, the tax advisors will give solid tax and accounting advice and help you to save tax.

Counselor

Along with sound planning, it is also crucial to have someone who will help you by giving good recommendations despite many challenges. For instance, the tax advisor will help you advise on the growth of the business, manage the cash inflow and outflow, bookkeeping, corporate tax return, and numerous other things.

If half of the problem is the person who can give sound advice to the business proprietors, then resolve it because even the challenging task can be carried on smoothly without any hindrance if you have someone to guide you in the entire procedure.

Planning

No company can be carried out successfully if the planning is not executed correctly. Before initiating the business, if the planning has been done with the assistance of tax advisors. They can give better planning recommendations for the company cost-effectively.

While planning a company, it is compulsory to set funding so that the investment would be less and, on the other hand, the gain would be more. For a cost-effective budget, the tax advisors can give different ideas to start the company with less cost.

Help In Personal and Professional Requirements

Multiple start-ups and small firms have their finances interlinked with each other due to which it becomes challenging. at times to manage both things and take a sound decision which would be advantageous.

The tax advisors will have a fair idea and take a reasonable decision because they will quickly comprehend all the pros and cons of taking a particular decision at a specific time.

Also, the business’s financial status will not burden the company by managing the personal and professional expenses separately. Therefore, if you’re considering employing corporate tax consultants in Abu Dhabi, contact Adepts Chartered Accountants today!

“Amazing advantages of employing business valuation experts.”

Business valuation

As a business proprietor, you likely know what inventory must be ordered and what your internal operations look like. However, there are specific parts of your business that are a bit more challenging to comprehend on your own, such as the actual value of your firm. That’s where a business valuation expert can assist.

Here are the top advantages of employing business valuation assistance.

Understand the Actual Value of Your Company

This advantage goes hand in hand. You may have a rough opinion of what your firm is worth. Still, when you hire a business valuation specialist, you’ll receive substantial figures of your firm’s value, which can be extremely useful, especially when/if you decide to deal.

With this knowledge, you’ll be able to present potential customers with the exact digits. In addition, numerical proof conveys the level of growth your company has seen over the years. This evidence will likely enhance buyers’ confidence in you and your company and potentially heighten their probability of buying it.

Higher Negotiating Power in Resale

If you’re considering selling your firm, determining its value is crucial in this procedure. After all, you want to ensure you obtain the compensation you deserve for all the hard work and finances you’ve already invested in your business. The most effective method to provide accurate value and price for your enterprise is to engage an experienced business valuation company.

To find its value, a business valuation consultant will glance at the key factors influencing your business’ value – such as future cash flows, earnings, investments, and more. They will then supply you with this information in an exhaustive report, and you can use these findings to confirm your next steps.

For instance, if you’re planning to sell full or partial stake of your company, you can brainstorm strategies for accomplishing so with the help of business valuation experts.

Gain Access to More Investors

Are you expecting to recruit additional investors for your business? In most cases, they would like to see business valuation statements, which business valuation professionals can seamlessly manage. Additionally, multiple investors will want to see a valuation projection to acquire insight into how your business’s value may increase in the future.

Given that they will be instilling funds into your company, you must be able to show them where their capital is going. When you have a company valuation expert handle these issues, you’ll help your firm stand out to investors. They will feel convinced that the valuations have been conducted correctly. Consequently, they will likely have higher confidence levels and be keener to invest. Therefore, if you’re looking for business valuation companies in Dubai, look no further than Adepts Chartered Accountants!

“ICV Certificate can be beneficial for businesses.”

ICV Certification Services in Dubai

The beginning of the In-Country Value (ICV) program offers an excellent chance for suppliers to triumph government and semi-government entity tenders. Obtaining ICV Certification Services in Dubai gives the companies a specific weightage during tender appraisals. In addition, the suppliers may acquire an ICV Certificate exhibiting a score based on their contribution per the newest audited financial statements and other aspects.

Why is ICV Authentication Crucial for Suppliers?

By becoming part of the ICV agenda, suppliers can contribute to the UAE’s strategic purpose of strengthening the growth of local enterprises and cutting the dependence on imports. In addition, the suppliers can also profit from the financing incentives that will be disclosed in the future.

These are some of the general advantages, but the core advantages of the ICV certification program are listed below:

  1. Independent entrepreneurs and small and medium-sized enterprises (SMEs) can expand business growth as value chains become localized.
  2. Distributors who become part of the plan can leverage the growth in demand for local products and services and the chance for government contracting.
  3. Essential purposes of the ICV program comprise promoting local businesses, introducing the products of local firms into the market, and establish high-skilled employment.
  4. The holders of the ICV credential can have a contractual edge with the associate companies and Government departments.
  5. The ICV Certificate creates more opportunities for local distributors to enter partnerships with foreign companies wishing to leverage the competitive benefits of a collaborative supply chain.

Who Needs the ICV Certificate?

Businesses operating inside or outside the UAE can apply for an ICV certificate per the ICV guidelines. However, a supplier instantly providing the goods or services must report their ICV score to earn weightage during their tender assessment and award procedure.

Choose Adepts Chartered Accountants for ICV Authentication

As leading ICV certification Advisors, we have put up a specialized sub-service line for ICV to assist our clients in obtaining ICV certificates and ICV improvement plan per ICV guidelines.

We deliver the following services and assistance:

  • Certification of ICV
  • Improvement Plan of ICV
  • ICV Consultancy
  • ICV Plan Implementation

Therefore, if you need ICV Authentication Services in Abu Dhabi, contact Adepts Chartered Accountants today!

Who needs ICV and why is it important?

The start of the national In-Country Value (ICV) initiative presents providers with a fantastic opportunity to earn contracts from government and semi-government bodies. Having an ICV accreditation provides businesses some weight when evaluating tenders. The suppliers are eligible to get an in-country value certificate Dubai that displays a score based on their contribution as indicated by the most recent audited financial statements and other variables.

in-country value certificate Dubai

Why ICV Certification is Essential for Suppliers?

Suppliers can help the UAE achieve its strategic goal of promoting the development of domestic businesses and reducing its dependency on imports by joining the ICV program. The funding incentives that will be offered in the future can also help the suppliers. These are a few of the basic advantages, however, the following are the main advantages of the ICV certification program:

  1. Suppliers that join the program might benefit from the rising demand for regional goods and services as well as the chance for government contracts.
  2. The ICV initiative allows for the localization of value chains, which benefits both small and medium-sized businesses (SMEs) as well as individual entrepreneurs.
  3. Promoting local businesses, showcasing their goods to the market, and creating high-skilled employment are some of the ICV program’s main goals.
  4. The ICV certification program expands local suppliers’ potential to form alliances with overseas companies looking to take advantage of the competitive benefits of a shared supply chain.
  5. ICV certificate owners may enjoy contractual advantages with partner enterprises and federal agencies.

Who Requires the ICV Certificate?

According to the ICV rules, businesses operating inside or outside the UAE can apply for an ICV certificate. A supplier’s ICV score must be declared for them to be given consideration during the examination and awarding of their tenders. The ICV certificate is also needed for Tier 2 and lower category providers to increase their ability to compete with Tier 1 suppliers in bids. Companies may simply receive the certificate with the assistance of ICV certification service providers.

ICV certification companies in UAE

How Adepts Chartered Accountant can help?

For submission to certifying organizations, suppliers must fill out a form for supplier submission that has been provided by the MoIAT. The most recent financial audit statements must be used to complete the ICV Certificate form. This is where organizations may benefit from ICV certification services offered in Dubai by companies like Adepts Chartered Accountants. We are one of the leading ICV certification companies in UAE.  For the businesses that seek ICV certification, we make the template submission requirements simpler. We can assist business owners in comprehending the elements that contribute to their organization’s ICV score. Additionally, we are approved auditors to audit financial statements of the companies following IFRS.

Everything you need to know about ICV certification in the UAE

ICV Certificate

The Abu Dhabi National Oil Company (ADNOC) introduced the In-Country Value (ICV) accreditation in Abu Dhabi in 2018 to promote Emiratisation, GDP diversification, and strategic considerations. Later, in 2021, the initiative was officially established at the federal level under the direction of the Ministry of Industry and Advanced Technology. The National ICV Certificate program gives the provider the chance to receive bids from governmental and semi-governmental organizations.

National ICV Certificate

The providers might increase their weight during the evaluation of tenders by acquiring an ICV certificate. The latest audited financial accounts as well as other elements are used to calculate the suppliers’ contribution score on an ICV certificate. Suppliers can overcome the process’s difficulties by consulting with ICV certification services in Dubai. To learn the conditions and prerequisites for obtaining ICV certification in the UAE, continue reading.

Before applying for ICV certification in the UAE, suppliers must be aware of the essential conditions they must fulfill. Suppliers may get help from ICV certification service providers in Dubai to get their ICV certificate.

The essential prerequisites are as follows:

  1. If the suppliers require certification for several legal companies, they need to get the ICV certificate for each of them. Even if the company’s owner is the same for all licenses, the government views each license as a unique legal entity.
  2. If a company has many branches in a given emirate that engage in comparable activities and ownership the MoIAT will issue a combined ICV certificate for the Company in that Emirate.
  3. The ICV certificate should only contain data that is consistent with the supplier’s audited financial statements. Suppliers are responsible for ensuring this consistency. Additionally, confirm that the audited financial accounts were prepared following International Financial Reporting Standards.
  4. The financial statements that have undergone an audit cannot be more than two years old as of the certification year. To be eligible for ICV certification in 2022, vendors must not submit audited financial statements that are older than 2020.
  5. Under the ICV Certification program, vendors that are neither goods manufacturers nor industrial license holders will be regarded as service providers.
ICV certificate

In the UAE, obtaining an ICV certification is a difficult process that calls for professional help. Suppliers must adhere to several standards, including submitting the audited financial statements and completing the MoIAT-required supplier submission template. The most recent audited financial statements must be used to complete the form. Suppliers may get assistance from top ICV certification service providers in Dubai like Adepts Chartered Accountants to achieve these important criteria. To assist our clients in achieving the necessary level of ICV scores, we have established a specific sub-service line for ICV certificate. In addition, we can guide businesses on the elements affecting their ICV score and draught audited financial statements following global norms like IFRS.

What part may auditing companies play in SMEs looking for funding?

Auditing & Accounting Services

There are several methods that SMEs may contact these organizations to request the company financing they need if we are talking about how accounting and audit companies in Abu Dhabi assist them in doing so.

The primary element that enables auditing and accounting companies to aid SMEs in obtaining financing is that these businesses have a thorough understanding of the customers’ or SMEs’ working and commercial operations.

The organizations will be able to provide proper advice regarding the choice of the source of credit if they have all the necessary information about SMEs.

audit companies in Abu Dhabi

Ways by which the accounting and auditing firms can help SMEs seek finance:

  1. Identify loan requirements: After determining their needs, the businesses may help SMEs determine whether they need loans and how to qualify for them.
  2. Accounting companies assist in resolving this type of difficulty since, in the majority of cases, SMEs are unable to adequately explain to lenders or banks why or how much money they need.
  3. Identify fund source: The accounting companies may offer suitable sources of funding for the SMEs after evaluating their capacity.
  4. Due to the enterprises’ thorough knowledge of the SMEs, they can determine the amount that the SMEs can pay back promptly and choose the sources that would give funding at the lowest possible cost.
  5. Help in getting fund approvals: The SMEs are assisted by accounting and auditing firms in maintaining and gathering all documents and statements in the most precise way possible, which may be utilized to submit loan and funding applications.
  6. The financial accounts of SMEs are typically requested by financial institutions so they may assess their cash flow and financial situation and make sure they can return any loans or funding on time.
  7. Helps in fund arrangement in a short time: Since accounting firms work with a large number of customers and are familiar with the majority of financial institutions and reliable sources of funding they can quickly and effectively discover the source of funding for an SME based on its capabilities.
  8. Ensure proper fund mobilization: In addition to their primary concentration on accounting services, auditing and accounting companies also offer a full range of financial services that are necessary for their customers to thrive in the cutthroat business environment.
  9. It is clear from the aforementioned considerations that accounting and bookkeeping businesses help their customers fulfill their financial needs in the most time- and cost-efficient ways possible whenever they want such services, in addition to offering accounting services to them.
accounting companies in Abu Dhabi

It is now more difficult to contact a financial institution and obtain the requisite money as a result of the increase in compliance criteria set by the respected authorities.

Accounting firms are essential in assisting SMEs in obtaining the necessary funding. One of the top accounting companies in Abu Dhabi is Adepts Chartered Accountants, which is renowned for offering individualized service to each of its customers.

It is constantly prepared to help clients with their financial problems, such as compliance demands, auditing requirements, and accounting.

When must you de-register from VAT in the UAE?

VAT Registration & Deregistration

A company’s VAT deregistration in Abu Dhabi is one of the less well-known tax matters, along with advance VAT reports and VAT disclosures. However, many businesses must understand when VAT Registration or deregistration is necessary, how to go about doing so, and the benefits and drawbacks it implies.

VAT Deregistration in Abu Dhabi

Deregistering from VAT entails ceasing to collect VAT for your company, either voluntarily or by law. The Federal Tax Authority (FTA) released the following criteria to determine if you must submit a deregistration application:

If any of the following applies to you, you must ask for deregistration within 20 business days of the event:

  • Once you stop producing taxable supplies.
  • When you have continued to make taxable supplies but your 12-month total value was below the threshold for voluntary registration.
  • Over the previous 12 calendar months, the amount of your taxable purchases or expenses has decreased below the voluntary registration level.
  • In the upcoming 30 days, the sum of your taxable purchases or outlays won’t be greater than the voluntary registration level.

Applying for voluntary deregistration is possible if you:

  • If the value of your taxable supply during the previous 12 months was more than the voluntary registration level but less than the required registration threshold and you are continually producing them.
  • In the upcoming 30 days, the taxable shipments will exceed the voluntary registration threshold but fall short of the required registration requirement.

VAT registration

It’s important to keep in mind if you’re starting a business in the UAE for the first time that you must register for VAT if your annual revenue exceeds AED 375,000 at any point over the previous 12 months. Businesses who don’t register promptly will be assessed a late registration administrative fine of AED 20,000 as well as extra fines based on late filing and non-payment of prior VAT liabilities on a percentage basis.

VAT Registration in Abu Dhabi

To clear up uncertainty and prevent arbitrary fines, it is crucial to deal with VAT experts who can manage all of your VAT-related difficulties. Adepts Chartered Accountants offers comprehensive and custom services to meet all of your needs.

It is crucial to remember that you will need to keep business books of accounts and records of all your company activities after you register for VAT. You should be prepared for random audits by the FTA, which they occasionally undertake. You may accomplish this in several ways, both yourself and in collaboration with bookkeeping experts.

It is usually advised to engage with bookkeeping experts if you are new to the industry to make sure that your accounts are on the correct track to becoming compliant. In Abu Dhabi, Adepts Chartered Accountants has a reputation for offering precise and open bookkeeping, accounting, VAT de-registration, and vat registration in Abu Dhabi. Even if your company is looking to make changes to enhance flexibility, reduce risk, and lower the cost of managing your VAT model, our staff and licensed tax agents can support you and offer helpful advice on realistic options.

What role can audit firms play in SMEs seeking finance?

Accounting companies in Abu Dhabi

The primary element that enables Audit firms in Abu Dhabi to aid SMEs in obtaining financing is that these businesses have a thorough understanding of the clients or SMEs’ financial and operational processes.

Ways by which the accounting and auditing firms can help SMEs seek finance:

  1. Identify loan requirements: After determining their needs, the firms may help SMEs determine whether they need loans and how to qualify for them. Accounting companies assist in resolving this type of difficulty since, in the majority of cases, SMEs are unable to adequately explain to lenders or banks why or how much money they need.
  2. Identify fund source: The firms may offer suitable sources of funding for the SMEs after evaluating their capacity. Due to the enterprises’ thorough knowledge of the SMEs, they can determine the amount that the SMEs can pay back promptly and choose the sources that would give funding at the lowest possible cost.
  3. Help in getting fund approvals: The SMEs are assisted by accounting and auditing firms in maintaining and gathering all documents and statements in the most precise way possible, which may be utilized to submit loan and funding applications. The financial accounts of SMEs are typically requested by financial institutions so they may assess their cash flow and financial situation and make sure they can return any loans or funding on time.
  4. Helps in fund arrangement in a short time: Since accounting and auditing firms work with a large number of customers and are familiar with the majority of financial institutions and reliable sources of funding, they can quickly and effectively discover the suitable source of funding for an SME based on its capabilities.
  5. Ensure proper fund mobilization: In addition to their primary concentration on accounting services, auditing and accounting companies also offer a full range of financial services that are necessary for their clients to thrive in the cutthroat business environment. It is clear from the aforementioned considerations that accounting and book-keeping firms help their clients fulfill their financial needs in the most time- and cost-efficient ways possible whenever they want such services, in addition to offering accounting services to them.

It is now more difficult to contact a financial institution and obtain the requisite money as a result of the increase in compliance criteria set by the respected authorities. Accounting firms are essential in assisting SMEs in obtaining the necessary funding. One of the top accounting companies in Abu Dhabi is Adepts Chartered Accountants, which is renowned for offering individualized service to each of its clients. It is constantly prepared to help clients with their financial problems, such as compliance demands, auditing requirements, and accounting.

VAT de-registration and proper books of accounts for VAT Filings in UAE

VAT deregistration in UAE

A company’s VAT deregistration in UAE is one of the usual tax matters. However, business owners must understand when deregistration is necessary, how to do it, and the law compliances achieve.

Deregistering from VAT implies estoppel of collecting VAT by your company. The VAT law have the following criteria to determine if you must submit a deregistration application:

If any of the following applies to you, you must apply for deregistration within 20 business days of the event:

  • Once you stop producing taxable supplies.
  • When you have continued to make taxable supplies but your 12-month total value was below the threshold for voluntary registration. Also, over the previous 12 calendar months, the amount of your taxable purchases or expenses has decreased below the voluntary registration level.
  • In the upcoming 30 days, the sum of your taxable purchases or supplies will not be greater than the voluntary registration level.

To prevent VAT fines, it is crucial to deal with VAT experts who can manage all of your VAT-related matters. Adepts Chartered Accountants offers comprehensive and customized services to meet all of your specific needs. It is important that you need to keep proper books of accounts and records of all your company activities after you register for VAT.

You should be prepared for random audits by the FTA, which they occasionally undertake. You may accomplish this in several ways, both yourself and in collaboration with bookkeeping experts. It is usually advised to engage with bookkeeping experts if you are new to the industry to make sure that your accounts are maintained correctly to become VAT law compliant. In Abu Dhabi, Adepts Chartered Accountants has a reputation for offering professional bookkeeping, accounting, VAT de-registration, and VAT registration in Abu Dhabi. Even if your company is looking to make changes to enhance existing working mechanisms, reduce risk, and lower the cost of managing your VAT compliances, our staff and licensed tax agents can support you and offer helpful advice on realistic options.