SEED Group, a conglomerate of diversified companies, owned and operated by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has announced a partnership agreement with the award-winning WTS Dhruva, a registered VAT/Tax niche boutique Advisory Firm based in the UAE.
The decision is aimed at continuously supporting UAE businesses in achieving their VAT compliance in the most efficient and effective way, avoiding any risks of errors at any point of the VAT filing process and beyond, as well as offering professional advisory VAT services and solutions through a customized automated reporting VAT digital compliance tool designed for the GCC region.
Hisham Al Gurg, the CEO of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum and SEED Group commented “Over the last year, WTS Dhruva worked with multinational clients and regulators on challenging tax environments, policies issuance and infrastructures. We believe that the firm will have a positive role by being present and on the ground here in the UAE and supporting businesses come to grips with the tax issues ensuring transparent compliance.”
Al Gurg added “We are proud of the innovative digital tool that WTS Dhruva have customised and are offering to their clients, confident it will allow organisations to not only automate their return filing process, but also to create and maintain the necessary audit trails for the future. The technology was created to provide better accuracy to mitigate human error, reduce workloads and increase efficiency in managing tax compliances.”
Dinesh Kanabar, CEO and Founder of WTS Dhruva said, “We in WTS Dhruva feel proud in signing the agreements with the Private Office and SEED who has always been considered by us as our key strategy in our vision of expanding and spreading the knowledge in UAE and across the region.”
“The Private Office and SEED Group had continuously been the aspiring platform for businesses and executives truly having essential knowledge to proceed in their long journey of success. I personally believe that together we will achieve a unique experience in connecting to partners, diversified clients, professional associates and offer productive tax advises/solution as a leading tax service provider in UAE,” he added.
Kanabar said that “with nearly 300,000 VAT registered companies across the UAE, it is critical that these businesses receive holistic VAT and other tax related professional advice to ensure compliance.”
Pratik Shah, resident partner and VAT expert with more than 15 years of work experience, commented, “VAT impacts every aspect of a business from Finance, Human Resources, IT and Systems through Sales to Marketing as VAT is levied at every stage of the supply chain. VAT also provides an opportunity for an organization to redesign certain aspects of the business to mitigate tax exposure at the same time being compliant under the Law.”
Dhruva Advisors were awarded for two consecutive years as India Tax Firm of The Year for 2017 and 2018 at the International Tax Review’s Asia Tax Awards.
WTS Dhruva Consultants has been awarded a series of VAT mandates from major UAE businesses across the retail, real estate, hospitality, financial services and energy sectors. The firm has significant experience working with businesses in the Saudi Arabia and Bahrain region. The firm also functions from India, Singapore, and the USA.
The senior management of the Private Office and Dhruva unanimously 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, especially where this is one of the major tax reforms the country has implemented recently.
The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum has already formed a combination of strategic partners and diversified alliance companies, along with in-house professionals in front offices, over the years. WTS Dhruva has expanded on its own in the past year and has achieved the experience of working across different industries and sectors. The right connection of the Private Office coupled with tax experience of Dhruva will go a long way in the success of the organization, which aims to serve the corporate sector in the region.