Audit And Assurance - Service Packages - FAR

AUDIT AND ASSURANCE – SERVICE PACKAGES

Package 1

AED 5,000PER YEAR

UPTO 100TRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

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Package 2

AED 7,500PER YEAR

FROM 100 TO 500TRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

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Package 3

AED 10,000PER YEAR

FROM 500 TO 1000TRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

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Package 4

AED 12,500PER YEAR

FROM 1000 TO 1500TRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

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Package 5

AED 18,000PER YEAR

FROM 1500 TO 2500TRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

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Package 6

STARTING AED 24,000PER YEAR

2500 AND ABOVETRANSACTIONS PER MONTH

SERVICES COVERED:

	Balance Sheet Audit
	Profit & Loss Account Audit
	Statement of Cash flow Audit
	Notes to the Audited Financial Statements
	Auditor’s Report
	Improvement of Accounting System
	Improvement of Documentations
	Improvement of Internal Controls
	Improvement of legal matters

TO BE DISCUSSED Details

Transactions Per Month		4001 and Above
Fees (One-year Contract)		AED 32,000 for 4 Quarter – AED 8,000 Per Quarter
Services Covered:		VAT – Tax Return Filing VAT Advisory Providing a specifically designed Spread Sheets (Excel) template for VAT Calculations Revision for VAT Calculation Provision of Tax Agent Services (View Our Tax Agent Certificate)
Scope & Benefits	Will file the Tax Return for the Quarter, which includes the following The Input VAT for your taxable supplies – for Goods and Services – must be entered for each city (Emirate) separately The Out Put VAT for your taxable supplies – for Goods and Services – must be entered for each city (Emirate) separately The VAT amount might be re paid by your business to the tourists Adjustment using the Reversal Mechanism Taking in consideration any Zero-Rated supplies for goods and Services Taking in consideration any Exempted Supplies for Goods and Services Taking in consideration any Out of Scope Supplies for Goods and Services Taking in consideration Import & Export Supplies for Goods and Services Taking in consideration Input Tax Recovery
Provision of Tax Agent Services	Who is a Tax Agent? The role of the tax agent for the UAE is covered under the Federal Law No 7 of 2017 on Tax Procedures. This Federal law provides a definition for a tax agent. Any person registered with THE AUTHORITY (FTA) in the Register, who is appointed on behalf of another person to represent him before THE AUTHORITY and assist him in the fulfilment of his tax obligations and the exercise of his associated tax rights. (Art. 1 of the Tax Procedure Law). THE AUTHORITY will keep a register of tax agents (Art. 12 of the Tax Procedure Law). Only those tax agents listed in the register and licensed for this purpose will legally be allowed to represent a taxable person in the UAE Condition to be satisfied to be a Tax Agent The Tax Procedure Law give guidance on the qualifications of a tax agent under Art. 14(1). These are as follows: To be of good conduct and behavior and have never been convicted of a crime or misdemeanor prejudicial to honor or honesty, notwithstanding that he may have been rehabilitated. To hold an accredited qualification from a recognized university or institute showing his specialization and practical. To be medically fit to perform the duties of the profession. To hold a professional indemnity insurance contract. The tax agent must have the ability to communicate orally and in writing in both Arabic and English. This requirement is added as tax returns are required to be in Arabic. However, Art. 5(2) of the Tax Procedure Law allows a translated copy. The tax agent must have passed any tests to meet qualification standards as specified by the FTA. The tax agent is required to notify the FTA of any changes to his profession that will impact his ability to practice as a tax agent in the UAE. (View Our Tax Agent Certificate)
Requirements	Tax Registration Certificate Summary for the supplies for the quarter – a template for VAT calculations will be provided by us after you buy this package
Terms & Condition	One-year Contract Payment: Every Tax Quarter in advance by credit card to be pre-authorized by the client Termination: by 1-month notice from the date of the tax quarter

I Agree Contact Us

Mob: +971 55 370 1232, +971 55 837 7872 | Tel: +971 4 2500251 | Email: sales@farahatco.com

Fees		THE FEES WILL BE DETERMINED ACCORDING TO THE CASE
Tax Agent Services, covers the following:		Input tax recovery claiming and follow-up with THE AUTHORITY Input / Output tax adjustment and disputing Tax audit by THE AUTHORITY support and attend the audit sessions Representing the client on front of THE AUTHORITY when needed Representing the client in case of the business liquidation or and Bankruptcy Input tax recovery claiming and follow-up with THE AUTHORITY (View Our Tax Agent Certificate)
Provision of Tax Agent Services	Who is a Tax Agent? The role of the tax agent for the UAE is covered under the Federal Law No 7 of 2017 on Tax Procedures. This Federal law provides a definition for a tax agent. Any person registered with THE AUTHORITY (FTA) in the Register, who is appointed on behalf of another person to represent him before THE AUTHORITY and assist him in the fulfilment of his tax obligations and the exercise of his associated tax rights. (Art. 1 of the Tax Procedure Law). THE AUTHORITY will keep a register of tax agents (Art. 12 of the Tax Procedure Law). Only those tax agents listed in the register and licensed for this purpose will legally be allowed to represent a taxable person in the UAE Condition to be satisfied to be a Tax Agent The Tax Procedure Law give guidance on the qualifications of a tax agent under Art. 14(1). These are as follows: To be of good conduct and behavior and have never been convicted of a crime or misdemeanor prejudicial to honor or honesty, notwithstanding that he may have been rehabilitated. To hold an accredited qualification from a recognized university or institute showing his specialization and practical. To be medically fit to perform the duties of the profession. To hold a professional indemnity insurance contract. The tax agent must have the ability to communicate orally and in writing in both Arabic and English. This requirement is added as tax returns are required to be in Arabic. However, Art. 5(2) of the Tax Procedure Law allows a translated copy. The tax agent must have passed any tests to meet qualification standards as specified by the FTA. The tax agent is required to notify the FTA of any changes to his profession that will impact his ability to practice as a tax agent in the UAE. (View Our Tax Agent Certificate)
Requirements	Tax Registration Certificate Taxpayer Trade License if any
Terms & Condition	Our fees will be determined according to the case Termination: by 1-month notice from the date of the tax quarter

I Agree Contact Us

Mob: +971 55 370 1232, +971 55 837 7872 | Tel: +971 4 2500251 | Email: sales@farahatco.com

AUDIT AND ASSURANCE – SERVICE PACKAGES

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