Morison MJS Tax Consultancy

Group Entity

Morison MJS Tax Consultancy

Morison MJS Tax Consultancy is a Morison Menon Group entity formed with the objective of providing solution with respect to Value Added Tax (‘VAT’) to be introduced in Gulf Cooperation Council (‘GCC’) countries in Jan 2018.

Our VAT leadership and team consists of experienced, passionate and ambitious staff who have VAT implemen-tation, Advisory, Compliance and VAT Audit experience across various industries in Europe, Middle East, Indian Subcontinent and Far East. Team is competent to provide end-to-end solution in relation to VAT in UAE and other GCC countries.

We are determined to own client’s challenges, train and make things simple and easy.

We firmly believe that VAT is an opportunity for business. It’s an opportunity to assess your business all over again heading from legal structure of the entity to Sales function to Deal advisory or Estimation to Commercial or contracts to HR to Operations to Supply Chain to Information Technology to Finance & Accounts to Compliance and related operating procedures.

Generally we get used to the structure we operate in and alignment between all the departments. However, we need to pause sometime and relook the organizational structure, transactions and alignment of all the departments and we believe this is the time.

VAT: An Opportunity for businesses

The central design feature of VAT and the feature from which it derives its name, is that the tax is collected through a staged process. Each business in the supply chain takes part in the process of controlling and collecting the tax, remitting the proportion of tax corresponding to its margin, i.e. on the difference between the VAT imposed on its taxed inputs and the VAT imposed on its taxed outputs. Thus the tax is in principle collected on the ‘value added’ at each stage of production and distribution.

The central design feature of VAT: Staged collection process

How VAT Works?

Sales price with VAT AED 105 AED 210 AED 420 AED 525

VAT collected by seller AED 5 AED 10 AED 20 AED 25

Credit for VAT paid in NA AED 5 AED 10 AED 20

previous stage

Net VAT AED 5 AED 5 AED 10 AED 5

Total VAT AED 25

Farmer sells Cotton to manufacturer for AED 100

Manufacturer makes Ready made T-shirts and sells to retailer for AED 200

Wholeseller stores and sorts them and sells to retailer for AED 400

Retailer sells to the customer for AED 500

Step 1 Step 2 Step 3 Step 4

VAT Service Offerings

Impact AssessmentFiscal Impact assessmentTransactions impact assessmentContracts review & related supportERP Impact assessment & recommendationsSupply Chain Impact assessment & restructuring

ImplementationTesting VAT function of ERPVAT mapping of transactions in ERPTesting of transaction in ERPPre- VAT implementation trainingPost-VAT implementation trainingDesigning VAT Manual

ComplianceRegistration & related planningTransitional supportVAT return fillingVAT return reviewVAT Advisory servicesVAT audit related support

ReviewVAT Reviews and comliance audits

IndustriesWe

Serve

Education EnergyFinancial Services

Food & Consumer GoodsGovernment & Public Sector

Healthcare &Pharmaceuticals

HospitalityTravel & Tourism

InfrastructureTransport & Logistics Real Estate

Retail

Media &Technology

We firmly believe knowledge is power and it enriches by sharing. We have setup a VAT Academy which focuses on training and educating businesses on VAT aspects.

Objective of Academy is to make things simple and empower businesses with sufficient knowledge to handle day to day VAT related tasks and meet compliance requirements.

Morison Menon Academy for VAT

Raju Menon is a dynamic entrepreneur and the Founder and Managing Partner of the Morison Menon Group, one of the premier Audit & Business Advisory firm headquartered in Dubai, UAE. He is a Senior Professional with over 29 years of post-qualification experience in the fields of auditing, consultancy, taxation, incorporation, liquidation, commercial and company laws.

Raju Menon leads a team of qualified tax professionals that help companies in smooth implementation of VAT and are capable of handling all VAT related matters.

He has the perspective to help companies understand National, Regional and International tax structures and align the tax function with business objectives.

CA. RAJU MENON Chairman & Managing Partner

KEY PERSONNEL

Surandar Jesrani has over 13 years of post qualification experience in the areas of Finance, Accounts and Taxation. Surandar has worked with Larsen & Toubro Ltd., General Motors and Infosys Technologies Ltd. in India and Belgium in Europe. He has also worked with one of the companies belonging to HSBC Private Equity in the UAE. During his tenure, he has worked on Value Added Tax (VAT) which includes impact assessment of VAT, implementation of VAT, advisory role on VAT, VAT returns, VAT Audits and related compliances.

Surandar has actively handled Transfer Pricing matters including policies, compliances and audits, Expat taxation, Advance Pricing Agreements (APAs) for taxation in various countries in Europe & United States, FIN 48, GST, Withholding tax and Tax Treaties.

Beside Finance, Accounts & Taxation capabilities, Surandar is an entrepreneur by nature and believes in making differences to businesses.

CA. SURANDAR JESRANI Partner & Chief Executive Officer

KEY PERSONNEL

Adrian is a partner and head of the firm’s VAT and indirect taxes group.  He has been involved in the provision of VAT and tax advice as a partner for over 30 years particularly in the property, construction and the not for profit sector.

Adrian lectures on various VAT matters and advisers clients in a broad range of sectors especially property, construction and charities who like the property sector often have partial exemption problems. Adrian has also lectured at The Institute of Chartered Accountants in England & Wales’s seminars. 

Adrian is a fellow of The Institute of Chartered Accountants in England and Wales, having qualified in 1981 and also a fellow of The Chartered Institute of Arbitrators, and a member of the tax investigations committee of The Institute of Chartered Accountants in England and Wales where he meets Treasury officials, and those responsible for drafting new legislation. Adrian is also a member of the Charity Tax Group, as well as a member the CBI VAT and indirect taxes Committee. Adrian was asked in 2007 to help edit a new Customs notice on partial exemption, and regularly contributes to HMRC’s consultations.

In the past Adrian has acted for a FTSE 100 company that manufactured construction equipment and now advises entities of all sizes on VAT and related issues, and in the last two years has advised property developers, many in connection with London, but also around the country. Adrian’s most recent Court case involved the construction of a museum and was successful against HMRC.

Adrian J Houstoun VAT Partner- Kingston Smith LLP

KEY PERSONNEL

A qualified accountant with a a post graduate diploma in computer applications, Raju Iyer comes with years of experience in this field across the region. Having worked with EY for over 20 years, Raju Iyer assisted many of their reputed clients by providing valuable advice and guidance in implementing financial systems.

Besides having a strong Finance & IT domain knowledge, Raju Iyer comes with innovative and creative problem solving ability, keeping himself abreast with latest technology trends and has established a strong business, finance & IT community network over the years which makes it easy for the business to explore and adopt the right and proven information system solutions.

CA. RAJU IYERDirector - Tax Technology

KEY PERSONNEL

Pushkar Kundra works as Assistant Manager in the Indirect Taxation practice of Morison Menon Group.

He is a qualified Chartered Accountant having an extensive knowledge in the subject of indirect taxation, its implementation and compliances. Pushkar has over 5 years of indirect tax experience, working for KPMG and Deloitte, where he assisted clients on various indirect tax impact areas on their business and helped them in a smooth transition and implementation of the same. Apart from this, he has conducted various training ses-sions on the subject of Gulf VAT.

Pushkar is experienced in handling complex compliances of large companies and for advisory on indirect tax related matters in complex transactions.

CA. PUSHKAR KUNDRAAssistant Manager- Indirect Tax

KEY PERSONNEL

Audit & Assurance Business Registration & Corporate Services

Business Advisory &Consulting

Corporate Finance Corporate Governance

Strategy Consulting

Payroll Processing Accounting BPO

HR Advisory & Consulting

Bookkeeping &Accounting Services

IT Consulting

Web Consulting

DIFC & ADGMRelated Services

Tax Advisory &Consulting

Risk & Compliance

160 Member Firms375 Offices

86 CountriesSpecialists comprising Chartered Accountants, CFA Charterholders, Lawyers and Business Consultants

1201 Partners12, 253 Professional Staff

USD 1.03 Billion in Revenue

Morison Menon is an Independent Member of Morison KSi, a global association of independent accountants, auditors, tax advisers, business consultants and lawyers

established to meet the comprehensive needs of clients.

Morison Menon Chartered AccountantsDubai, UAE

Morison Menon Chartered AccountantsAbu Dhabi, UAE

Morison Menon Chartered AccountantsSharjah, UAE

Morison Menon Chartered AccountantsJAFZ, Dubai, UAE

Morison Menon Chartered AccountantsDAFZ, Dubai, UAE

Morison Menon Chartered AccountantsRas Al Khaimah, UAE

Morison Menon Chartered AccountantsKIZAD, UAE

Mohammed Saad Al- Ghowainim Certified Public Accountants, Al Khobar, Saudi Arabia

Al-Jeeran & Co KSi Public AccountantsKuwait City, Kuwait

KSI BahrainManama, Bahrain

Morison Muscat Chartered Accountants LLCMuscat, Oman

Morison Menon Chartered Accountants & PartnersDoha, Qatar

OUR GCC NETWORK

Morison MJS Tax Consultancy

Level 15, Lake Central - At The Bay, Business Bay,Marasi Drive, P.O Box 55535, Dubai, UAE+971 4 276 2233 - vat@morisonmjstax.com