In January 2022, the Ministry of Finance (MoF) has announced to implement Corporate Tax (CT) at 9% on business profits exceeding AED 375,000 for the financial year beginning on or after 01 June, 2023.
On the other hand, Budgeting is normally for one or two fiscal years, based on existing records and future cash flows that business is expected to generate or maintain.
Typically, financial projection is used for
- Investment appraisals
- Initial Public Offering (IPOs)
- Product launching
- Business/share valuation
- Project evaluation
- Drafting prospective financial information
- Liquidity and business solvency analysis; and
- Cash flow management,
- Any remnant purpose that entrepreneurs deem fit in their particular business scenario.
Corporate Tax Consultancy Service
- Variance analysis of actual records vis-à-vis budgets.
- Plan future operations and set realistic targets suitable within budgeted limits.
- Cost containment to fit-in budgeted figures.
- Highlighting cash excess/shortage and consequential fund management.
- Monitor project cost overrun.
- Monitor overall business performance and act as a yardstick for business decisions.
How our CFOs stand out the competition
We understand that preparation of budgets and projections with detailed analysis of past, current and future market and business trends, therefore we have in place well-defined working methodologies and procedures that presents an optimal outcome of projected-financial budgets and information for our clients to make effective and well-informed business decisions.
Our CFOs have gained experience working in large-sized conglomerates; hence, we are well aware with an organisational requirement to take into account in preparation of projections and budgets for any purpose.