Unlike a traditional accounting or bookkeeping partner, we deliver total solutions with the Accounting expertise and software platform to offer comprehensive support to businesses in the UAE. As an ISO 9001 and 27001 certified company with over 30 years international experience in accounting, VAT and technology, we have the unique capabilities to ensure you are fully compliant to the UAE legislation. Whether you have an existing finance function operating its own systems and processes or a small company needing a complete outsource service, we have the flexibility to serve your business.
Making the right decision for your outsourced Accounting & VAT Partner? Outsource Accounting & VAT For any start-up, small or medium-sized company, outsourcing your accounting & VAT to an experienced and qualified partner is a credible option especially if you want to secure expertise at a lower cost to inhouse recruitment.
Businesses opting to outsource can make substantial savings and benefits through: Avoiding the payroll and visa costs for an in-house employeeAvoid on-going training and management overheadsHave more security in continuity if employees leaveGain valuable expertise from an experienced partner For any business with finite resources, knowing your financial reporting and VAT obligations are well managed can be an excellent choice and allow more investment into growing the business. However, outsourcing to the right partner should be carefully considered to minimise potential frustrations. Outsource Accounting Services & VAT - Simply Solved Dubai UAE.
Accountant, Bookkeepers and Financial Advisor Services in Dubai. UAE Auditors – Financial Statement Audit in UAE. Important Amendments to UAE Economic Substance Regulations. On 10 August 2020, the UAE Cabinet of Ministers issued Cabinet Resolution No. 57 of 2020 (the “amended ES Regulations”) which replaces the original ES Regulations, along with updated Guidance clarifying the amended ES Regulations (Ministerial Decision 100 of 2020 dated 19 August 2020).
The amendments to the ES Regulations and Guidance provide welcome changes and additional clarity that should help reduce the overall burden on businesses in the UAE. These changes include to the definition of “Licensee”,the introduction of some additional categories of exempted Licensees,clarifications regarding the treatment of branches The UAE introduced economic substance requirements for certain businesses on 30 April 2019 through the Cabinet of Ministers Resolution No.31 of 2019 on Economic Substance Regulations (“the original ES Regulations”).
Top 5 Benefits of Hiring an Outsourced Accounting Services. Outsource Accounting Services – Simply Solved. Human Resource Basic – Odoo HR. Affordable & Reliable Zoho CRM Platform for Your Business. 21st technology in education. A Little Guide for Audited Financial Statement. VAT Return Filing in the UAE – Simply Solved. Cost-effective Odoo ERP Solution System – Simply Solved. What is Economic substance regulation in the UAE? Company Liquidation in the UAE – Simply Solved. A Complete Guide for VAT Registration on UAE FTA (Federal Tax Authority) OUTSOURCE2dd. Is Benefits of Outsourced services a Good Strategy For Your business. Emerging from the Covid-19 lockdown presents a number of challenges for any business especially with the highly unpredictable pace of any economic recovery.
Economic forecasts vary and it is unclear whether the recovery curve will resemble a “V” to “W” to “L” shape from best case to worst case scenarios. Whatever scenario becomes evident, it is prudent for every company to ask similar questions and assess how they will adapt and emerge stronger to capitalise from demand when the recovery builds momentum. At this time, the following questions should be at the forefront for any business to plan into the foreseeable horizon: One of the solutions many businesses look at as an answer these questions is outsourcing.
SimplySolved Attains Coveted ISO 9001 & 27001 Certifications. As part of our company mission to improve quality and security to our clients, SimplySolved has passed the recertification of our ISO 9001 Quality Management System and expanded our accreditation to include the ISO 27001 Information Management Security Certification assessed and issued by esi certification.
With this certification we have implemented systemised controls to increase the reliability and security of our systems (support by vamah.ae) and with internal controls affecting any internal and client physical and digital information. How Does ISO 9001 Quality Management Benefit You? ISO 9001 is defined as the international standard that specifies requirements for a quality management system (QMS). Organizations use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements.
How Does ISO 27001 Information Security Management Benefit You? Outsource Accounting Services & VAT - Simply Solved Dubai UAE. ESR1. Economic Substance Regulations - Simply Solved UAE. Why a Human Resource Management System Make Good Business. If your business uses a system to manage your finances, assets and customers, managing your other key asset, your employees, to their fullest potential should also be on your agenda.
According to research studies, 85% of companies identify their people as their greatest business asset. But many companies can easily overlook the benefits of a Human Resource Management System (HRMS) to maximise employee contribution, motivation and performance. HR & Payroll Services - Simply Solved Management Solutions Dubai UAE. HR3. Hr4. Is Outsourcing Your HR a Good Option? - Simply Solved. Successful companies are constantly searching for more efficient and cost-effective measures to better run their internal business operations.
Some companies build in-house expertise and resources to implement strong processes and systems while others focus on their core competencies and work with partners to complement their weaknesses. In the second scenario, outsourcing to a partner or hr consultants in Dubai is an especially attractive option to reduce costs and gain additional expertise on non-core processes such as administrative HRM & payroll. Therefore Outsourcing HR can be a smart investment for businesses and in this blog we discuss the benefits and implications you should consider. 1. Reducing Risks In the UAE where employment legislation is subject to specific compliance obligations. If your business is seeking cost reduction goals, the case for outsourcing your Human Resource Management & Payroll is strong and can yield 40% cost benefits. 2. 3. 4. Economic Substance Regulation - May Update - Simply Solved.
As a UAE registered entity, you will be affected by the Economic Substance Regulations.
The first stage of the implementation will be to submit your notification before deadline issued by the Ministry of Finance. UAE Ministry of Finance (MOF) has issued the second edition of Economic Substance Regulation (ESR). It describes the implications of ESR, they further issued Cabinet of Ministers Resolution No. 31 of 2019 Ministerial Decision No. 215 for the year 2019 providing additional guidance on ESR (‘additional guidance’), and Cabinet Resolution No. 58 of 2019 determining the Regulatory Authorities. All Trade Licensing Authorities will duly announce its compliance process. The first tranche is announced, and other jurisdictions will follow in due course.
Establishing whether your business is subject to the ESR Legislation and providing accurate information in your notification submission will be the first requirement. Financial Accounting Services - CFO Services. Dubai getty. UAE Economy May Update - Simply Solved Dubai, UAE. This month has seen range of announcements made to support businesses operating from different license jurisdictions.
In this blog, we summarise the range of incentives and clarifications that affect your business and the UAE economy. Compliance: Economic Substance Regulations The Ministry of Finance has now issued further detailed guidance on the Relevant Activities for Economic Substance. This publication provides further details to assess whether your business is subject to the ESR Relevant Activity definition. The DIFC also announced that the Economic Substance Notification will be released by 1 May 2020 and must be submitted by 12 June 2020. Simply solved1. International Monetary Fund Insights - COVID 19 - Simply Solved. Governments worldwide have taken major action not only to fight the pandemic and save lives but also implement fiscal measure to protect their economies.
To date, fiscal measures have exceeded more than $8 trillion and Central Banks have also attempted to boost their economies with increased liquidity. These are unprecedented stimulus measures to stave a major collapse. In this blog we summarise the insights the International Monetary Fund has detailed in recent communications analysing the geopolitical economic responses to COVID 19.
At the heart of their analysis is that the world requires a global response to this global epidemic. Outsource. Business. Cccp. How retail sector are Responding to Covid 19 Challenges - Simply Solved. The economic shockwaves of this outbreak are unprecedented affecting a range of industry sectors locally and globally.
It is clear the lockdown and social distancing policies have hit the retail sector the hardest evidenced by a string of high-profile bankruptcies, closures, employee reductions and furloughing. From apparel to lifestyle, sales in the previous 3 months have drastically fallen resulting in inventory build-up tying up precious working capital. Disposal income is at a premium and buying behaviour has changed. Consumers are prudent about spending. With confidence low, consumers are unlikely to make large or luxury purchases. How Can Retailers Adapt? Structural changes are inevitable in the coming few months. Solutions. Employment HR Rules Resulting From COVID-19 Outbreak. Since the outbreak of coronavirus (Covid-19), all employers are assessing how to best mitigate the impact to its work force employees and workplace. This has raised important concerns related to UAE employment law for a workforce that is dominated by an expats.
With this backdrop, the HR department becomes critical in not only setting guidelines in protecting employees but at the same time support the business performance. For hard hit companies operating in industries such as hospitality, hotels and airlines that are directly being affected by the economic downturn / recession, the UAE Labour Law now provides a degree of flexibility to modify current employee contracts. Under Resolution No. 279 of 2020 issued by The UAE Ministry of HR rules and Emiratisation states: that the measures taken to protect the company staff must be agreed upon by employers and non-Emirati employees.
Companies registered with the Ministry can take the following actions: Employee Gratuity: Rent telief. Tax3. ESR1. Simply Solved. COUNTRY BASED GOVERNMENTAL TAX MEASURES - Simply Solved. All major economies during the current COVID-19 crisis have taken some form of action to support local economies through fiscal policies and changes to tax rate. The introduced stimulus packages have various components of which one of them has been a series of tax measures. In this blog, we seek to summarise the action taken regionally. Manage Your Business In Tough Economic Conditions - Simply Solved. Companies around the world are trying to come to terms with the impact the coronavirus (COVID-19) has had on their business. This unforeseen event has caused millions of dollars of losses to businesses worldwide.
Nevertheless any company should be making decisions and taking actions with recovery in mind to capitalise when demand increases. Best run companies build in resilience and agility to reshape their business strategy to thrive now and in the future. A few important strategies to keep in mind: Protect Cash Flow : Increase Inflow & Decrease Cash Outflow Continuous flow of cash is the lifeblood of your business. Review Inventory Management Practices Focus on reducing inventory costs as many businesses are stocking far more inventory than they need. Cut Costs: eliminate nonessential expenses as much as. Vat. Tax Preparation Services. Tax Agency. Outsource accounts. Accounting Services for Small Businesses. Accounting services. Self Study Resources - Simply Solved Dubai, UAE. Simply Solved. Simply Solved. Vat Registration. Accounting Services – Your own accounting solution. VAT & Tax Registration 2020- SimplySolved.
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