Award-winning firm brings VAT expertise to Bahrain
Manama : Dhruva Advisors, a boutique tax advisory firm, has expanded their footprint in the GCC region with the opening of a new office in Bahrain at the Bahrain Financial Harbour, Manama.
With the opening on March 6, Dhruva Advisors further strengthens its international operations after having set up offices in Singapore, Dubai, New York and Silicon Valley.
The event at Capital Club, Harbour Towers (East) was attended by senior executives from leading business and professional organisations of Bahrain. The event was also graced by the representation from Indian Ambassador’s office.
“We are very excited about Dhruva Advisors’ launch into Bahrain. The GCC regional experience that we have built-up by working on UAE & KSA projects and our extremely talented and experienced staff gives us the confidence to become a trusted tax advisor to local business houses as well as multinationals operating in Bahrain. The support we received from our business partners and EDB have been very heartening,” Dinesh Kanabar, Group CEO, Dhruva Advisors said.
“There are many people who have not been exposed to taxation in this part of the world, it is critical to spreading awareness among the different trades and industries,’’ said Pratik Shah, Partner and head of the United Arab Emirates operations.
“We are playing a dual role, we educate and prepare,” Pratik Shah told DT News.
Dhruva Advisors has worked with multinational clients and regulators on policy issues and tax advocacy matters. The firm currently has around 250 Tax specialists, operating in 5 countries, who are not only Subject matter experts (SMEs) but also bring in a diverse experience of many industries & countries. The key industries that Dhruva advises include financial services, IT and IT-enabled services (ITES), real estate and infrastructure, telecommunications, oil and gas, pharmaceuticals, chemicals, consumer goods, power, as well as media and entertainment.
“We wish to bring to Bahrain the experience gained from other countries,’’ Dinesh Kanabar, CEO WTS Dhruva Consultants, told DT News.
Dhruva Advisors is a member of the WTS Alliance, a global network of selected firms represented in more than 100 countries worldwide.
“Given that VAT is expected in the latter part of 2018, this is the ideal time for Dhruva Advisors to open an office in Bahrain. We bring in a unique blend of technical expertise, varied industry knowledge, exemplary GCC VAT experience (given the work was done by our Dubai office in UAE and KSA), practical yet compliant solutions for varied operational and system problems. We are confident to help our clients smoothly transition into the VAT regime in a most efficient manner,” Gaurav Khurana, head of Dhruva Bahrain with 16 years of VAT experience, said.
“We need better knowledge of VAT in this part of the world,’’ said Jamal Mohamed Al-Fakhro, managing partner at Klynveld Peat Marwick Goerdeler (KPMG), Bahrain, at the inauguration ceremony.
“Our job is to help restructure the business to be compliant and effective from a VAT perspective, ’’Dinesh Kanabar told DT News.
Dhruva Advisors was named “India Tax Firm of the Year 2017” at International Tax Review’s Asia Tax Awards 2017 and consecutively recognized as a Tier 1 Firm in the International Tax Review, World Tax Guide 2016 and 2017 to the world’s leading tax firms. The firm was also awarded the Best Newcomer of the Year 2016 - ASIA by the International Tax Review.
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