Prime Comprehensive Package
Introduction:
Our Prime Comprehensive Package is designed to provide your business with a holistic suite of services for managing taxes and meeting corporate tax requirements, enabling you to focus on what matters most—growing your business.
Package Includes:
- Corporate Tax Registration/Verification:
Tailored corporate tax registration and verification based on your enterprise’s legal structure. - VAT Registration/Verification:
VAT registration and verification in accordance with mandatory thresholds. - Quarterly VAT Filing:
Timely quarterly VAT submissions ensured under this package. - Bookkeeping:
Keeping organized and compliant financial records.
Effective Bookkeeping Services
Primetax Accounting Service Co LLC recognizes that accurate bookkeeping is essential for your business’s success. Our comprehensive bookkeeping services will provide you with peace of mind by keeping your financial records in check and ensuring compliance with all regulations. Let us manage your financial operations while you focus on your core activities.
Why Bookkeeping is Critical for Your Business:
- Accuracy for Corporate Tax Filing:
Proper record-keeping allows you to understand performance and meet legal requirements, enabling informed decision-making. - Organized Financial Records:
Bookkeeping provides a clear picture of all financial and non-financial transactions, classified and summarized effectively.
Bookkeeping Challenges:
- Missed Opportunities:
Disorganization in financial records can lead to costly mistakes. - Non-compliance Risks:
Inaccurate financial statements can result in non-compliance with legal regulations, incurring penalties during corporate tax filing.
Bookkeeping Comprises:
- Keeping General Ledger:
Accurate booking of all transactions to provide a solid foundation for financial statements. - Preparing Financial Statements:
We prepare detailed financial reports, including Profit and Loss statements, Balance Sheets, and Trial Balances, offering insights into your business’s financial health.- Types of Financial Reports:
- Profit and Loss Statement
- Balance Sheet
- Trial Balance
- Types of Financial Reports:
- Reconciling Bank Accounts:
Regular bank reconciliations ensure all transactions are accurately accounted for, eliminating discrepancies between your records and bank statements.
Our Approach
We maintain accurate and up-to-date financial records using modern software and best practices. Our services are adaptable to the individual needs of small, medium, or large enterprises.
Why Choose Primetax for the Prime Comprehensive Package?
- Corporate Tax Registration and Filing:
We handle the entire tax registration and filing process. - VAT Registration and Quarterly Return Filing:
Ensuring VAT compliance and timely submissions. - Monthly Bookkeeping & Financial Statements:
Our regular financial statements provide timely insights to guide data-driven decisions. - Safe Record Keeping:
Your records are securely stored for up to five years, ready for any inquiries from the FTA.
FAQs:
- What are the differences between accounting and bookkeeping?
- How often should financial reports be presented?
- What are the consequences of poor bookkeeping?
Case Study: How Primetax Helped a Luxury Car Dealer Simplify Their Accounting & Tax Compliance
Client Background:
A luxury car dealer faced challenges due to rapid growth and increasing complexity, struggling to meet timely tax deadlines and avoid fines.
Solution:
The Prime Comprehensive Package was implemented, which included:
- On-time Corporate Tax Registration:
We ensured timely enrollment to avoid a potential penalty of AED 10,000. - On-time VAT Registration:
VAT registration was completed within five working days, saving an additional AED 10,000. - Quarterly Financial Reporting:
Provided clear insights into business performance through regular financial reports. - Year-End IFRS Financial Statements:
Ensured compliance with IFRS standards for corporate tax filing.
Results:
Primetax enabled the client to focus on business growth while we managed their taxes and accounting effectively.
