Set Hub has announced the expansion of its services to include a comprehensive tax consultancy and financial accounting solutions, the company said in a media release. This move underscores the company's commitment to supporting businesses, especially SMEs, in navigating the complexities of tax compliance and financial management in the UAE’s economic landscape, it added.
According to the media release, since the introduction of VAT in 2018, alongside specific regulations in various free zones and the rest of UAE, the need for expert tax and accounting services has become paramount. Set Hub’s tax consultancy services are designed to offer businesses the expert knowledge necessary for accurate compliance, ensuring cost efficiencies, time savings, and the avoidance of potential penalties.
Tailored tax solutions
Set Hub’s suite of tax services includes VAT Services, ensuring businesses adhere to the mandatory 5% VAT for taxable supplies exceeding Dh375,000. Their experts help businesses navigate the complexities of VAT registration, compliance, and refunds, including for foreign businesses incurring VAT during UAE visits, the company says.
Corporate Tax is another critical area where Set Hub is providing detailed guidance on compliance for businesses operating under commercial licenses, free zone entities, foreign businesses engaged in regular trade, and those in the banking and real estate sectors. Set Hub’s experts help clients understand the exemptions, including those related to natural resource extraction, dividends, capital gains, intra-group transactions, and more.
Comprehensive financial services
Set Hub also offers a range of financial solutions including Accounting, Payroll & WPS, Auditing Services, Bookkeeping, and Smart Accounting Services. Their expert financial accounting services ensure adherence to international standards, aid in strategic financial planning, and provide access to advanced accounting tools, enabling businesses to navigate the complexities of both local and international trade seamlessly, according to the company.
Partnering for success
Set Hub’s commitment to its clients extends beyond compliance, company says. By assisting in mitigating potential risks, promoting local networking, and crafting future growth plans, Set Hub has positioned itself as an invaluable collaborator in Dubai’s business environment.
As the UAE continues to strengthen its economic framework, Set Hub is poised to support businesses in achieving financial stability and growth, ensuring a prosperous future in one of the world’s most vibrant economies.
