Seed Group has announced a partnership agreement with a registered VAT and tax advisory firm WTS Dhruva.
The group, a conglomerate of companies, owned and operated by the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said the decision is aimed at supporting UAE businesses in achieving their VAT compliance, avoiding any risks of errors at any point of the VAT filing process and beyond, as well as offering VAT advisory services and solutions through a customised automated reporting VAT digital compliance tool designed for the GCC.
“Over the last year, WTS Dhruva worked with multinational clients and regulators on challenging tax environments, policies issuance and infrastructures. The firm will have a positive role by supporting businesses come to grips with tax issues,” Hisham Al Gurg, CEO of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum and Seed Group said.
The senior management of the Private Office and Dhruva believe that existence of a specialised tax-focused boutique organisation will change the dynamics of the tax consultancy and compliance support for businesses in the region.
Dinesh Kanabar, CEO and founder of WTS Dhruva, said: “With nearly 300,000 VAT registered companies across the UAE, it is critical that these businesses receive holistic VAT advice.”
Pratik Shah, resident partner and VAT expert, said VAT impacts every aspect of a business from finance, human resources, IT and systems through sales to marketing as the tax is levied at every stage of the supply chain.
“VAT also provides an opportunity for an organisation to redesign certain aspects of the business to mitigate tax exposure at the same time being compliant under the law,” he said.
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