Accounting services

Prudent Services Group - Your Trusted Partner in Accounting Excellence

In the ever-evolving landscape of the Middle East job market, finding the right talent or securing your dream role can be a challenging endeavour. At PRUDENT SERVICES GROUP, we specialize in connecting job seekers with their ideal positions and assisting businesses in finding the perfect candidates to enhance their teams, all while navigating the unique dynamics of the Middle East job market.

Our Services Include

VAT (Value Added Tax) Services

The Middle East boasts diverse opportunities and thriving industries, from Dubai’s bustling business hubs to Saudi Arabia’s expanding markets. Navigating this job market demands a nuanced understanding of its culture, regulations, and industry trends. PRUDENT SERVICES GROUP serves as your reliable guide, ensuring success in this dynamic landscape.

VAT Registration

We manage the VAT registration process, including the preparation and submission of all necessary documents to the relevant authorities. Our experts ensure that your VAT registration is completed accurately and in compliance with local regulations.

VAT Compliance Assessment

We conduct a thorough review of your organization’s operations to assess its current level of VAT compliance. We identify areas of potential risk or non-compliance and provide recommendations to address them. Our assessment helps you proactively address compliance issues and avoid penalties.

VAT Filing and Returns

We manage the preparation and submission of your VAT returns to the tax authorities in a timely and accurate manner. Our team ensures that your VAT filings are compliant with all legal requirements, helping you avoid fines and penalties. We provide ongoing support and guidance to help you maintain a consistent and efficient VAT filing process.

VAT Advisory Services

Our VAT experts offer advisory services to help you understand the implications of VAT on your business operations. We provide guidance on structuring transactions, contracts, and pricing strategies to optimize your VAT position. Our advisory services assist you in making informed decisions that minimize VAT liabilities and risks.

VAT Training and Workshops

We offer VAT training and workshops to educate your staff about VAT regulations and compliance requirements. Our training sessions are customized to meet your organization’s specific needs and ensure that your team is well-informed about VAT.

VAT Recordkeeping and Documentation

Proper recordkeeping is essential for VAT compliance. We help you establish and maintain accurate VAT records and documentation. We assist in setting up systems and processes to track and record VAT-related transactions effectively.

VAT Audit Support

In the event of a VAT audit, our team provides support and guidance throughout the audit process. We help prepare the necessary documentation, liaise with auditors, and ensure that your organization’s interests are protected.

VAT Refund Claims

If your organization is eligible for VAT refunds, we manage the preparation and submission of refund claims to the tax authorities. Our experts ensure that refund claims are submitted accurately and efficiently, helping you recover excess VAT payments.

VAT Compliance Reviews

We conduct periodic VAT compliance reviews to ensure that your organization remains up to date with changing VAT regulations. Our reviews identify any potential compliance issues and provide recommendations for corrective action.

Corporate Tax Services

The introduction of corporate tax in the UAE is anticipated to bring about significant changes in the tax and compliance landscape for businesses operating in the country. To successfully navigate this new tax regime, organizations must carefully assess the tax implications and consider adjustments to various aspects of their operations.

Our team of corporate tax consultants places a strong emphasis on ensuring full compliance with UAE tax laws, meticulously managing the accurate and timely reporting requirements to the Federal Tax Authority (FTA). As your trusted tax advisor, we go beyond compliance, providing proactive guidance and strategic recommendations to minimize risks and enhance your overall tax position

Corporate Tax Assessment

With the recent announcement of new legislation, we emphasize the importance of a well- structured implementation plan. This approach ensures that business operations can continue seamlessly during and after the implementation phase, with the invaluable support of expert firms.

A successful corporate tax Impact Assessment is best conducted with the guidance of experienced UAE corporate tax consultants who possess a keen understanding of regulatory tax requirements. PRUDENT SERVICES GROUP offers a team of highly skilled specialists with a proven track record of executing assignments accurately. Our experts are well-equipped to provide effective corporate tax impact assessment services in the UAE.

Corporate Tax Registration

PRUDENT SERVICES GROUP excels in providing top-tier corporate tax registration services in the UAE, facilitating the acquisition of a corporation tax registration number and certificate from the Federal Tax Authority (FTA). All businesses in the UAE are now eligible to register for corporate tax. According to UAE corporate tax law, every taxable entity in the UAE must undergo corporate tax registration and obtain a Corporate Tax Registration Number.

Consulting with our corporate tax advisors empowers business owners with a deeper understanding of compliance standards, enabling them to avoid severe penalties within the UAE.

Corporate Tax Audit

Auditing is a systematic approach to meticulously verify and assess a company’s records and information. PRUDENT SERVICES GROUP boasts a team of proficient UAE tax consultants acknowledged by the FTA, offering clients straightforward and hassle-free corporate tax audit services. Our services ensure that businesses are well-prepared to navigate new regulations and restrictions while adhering to the highest accounting standards and practices.

Corporate Tax Return Filing

Full corporate tax compliance is mandatory for all businesses in the UAE. This includes adherence to all FTA rules and regulations, encompassing timely corporate tax registration, proper issuance and utilization of corporate tax invoices, meticulous bookkeeping and accounting, and various other obligatory procedures.

PRUDENT SERVICES GROUP covers all aspects related to corporate tax concerns. We offer unparalleled corporate tax services and guide businesses in avoiding corporate tax fines and penalties by steering them in the right direction.

Transfer Pricing

Businesses are now required to comply with transfer pricing standards and adhere to documentation requirements in line with the OECD Transfer Pricing Guidelines for corporate tax. Our transfer pricing documentation will assist taxpayers in demonstrating that their transactions align with the arm’s length principle, effectively mitigating transfer pricing. issues.

As the volume and complexity of international and domestic transactions increase for business entities, transfer pricing concerns become more prominent, resulting in a notable rise in compliance costs for taxpayers.

Bookkeeping and Financial Reporting

Prudent Services ensures meticulous bookkeeping by recording every financial transaction accurately. This encompasses not only tracking income and expenses but also categorizing entries, reconciling accounts, and maintaining a well-organized ledger. The firm generates comprehensive financial reports, offering detailed insights into the company’s financial health, profitability, and liquidity

Bank Reconciliations

Prudent Services performs regular and thorough bank reconciliations to guarantee the alignment of financial records with bank statements. This involves a meticulous review of transactions, identification of any discrepancies, and the resolution of issues promptly. Accurate bank reconciliations enhance financial transparency, mitigate risks, and provide a reliable basis for decision-making.

Accounting Software Expertise

Leveraging expertise in accounting software like QuickBooks, Sage, and Xero, Prudent Services offers tailored solutions for clients. The firm assists in selecting the most suitable software, ensuring seamless implementation, and providing ongoing support. Training programs are designed to empower businesses to use these platforms effectively, optimizing their accounting processes for efficiency and accuracy.

Payroll Services

Prudent Services takes a comprehensive approach to payroll management. From salary calculations to tax withholdings, benefits administration, and compliance with labour laws, the firm ensures a smooth and error-free payroll process. This service extends to detailed record-keeping, creating a transparent and compliant payroll system that fosters employee satisfaction and regulatory adherence.

Financial Advisory and Consulting

Prudent Services serves as a strategic financial partner, offering personalized advisory services. The financial consulting spectrum covers budgeting, forecasting, risk management, and overall financial strategy development. Through collaborative consultations, the firm helps clients make informed decisions that align with their unique business objectives.

Tax Preparation

Prudent Services takes charge of the entire tax preparation process. Staying abreast of evolving tax laws, the firm prepares and files both personal and business tax returns. A meticulous approach is adopted to identify potential deductions, credits, and incentives, with an overarching goal of minimizing tax liabilities while ensuring full compliance.

Feasibility Reports:

Prudent Services conducts in-depth feasibility studies, providing clients with a holistic understanding of potential business ventures. These reports encompass detailed financial analyses, cash flow projections, and risk assessments. By delivering comprehensive insights, the firm empowers clients to make strategic decisions about investments and projects, mitigating risks and maximizing opportunities.

WHAT OUR CLIENTS SAY

"It's been an absolute pleasure to work Kons team, their response to our brief exceeded expectations and the execution was efficient, professional and reassuring I'd fully recommend them."

Working with Prudent Group has been a delight! Their response to our project brief was beyond satisfactory, delivering results that were not only efficient but also executed with a high level of professionalism. I highly endorse their services.

I've had the pleasure of collaborating with Kons team, and I must say, their response to our project brief was exemplary. Their execution was not only efficient but also carried out with a sense of professionalism that instilled confidence. I wholeheartedly endorse them.