Products and Services

The ever-changing market and the diversified economy, has spawned a multitude of industries, creating a challenging work scenario- one where innovation and speed hold the key to success. And, finance has become one major industry with a myriad associated activities. We do not belong to the Limited business and our services cover a wide spectrum of the Professional services.

RM & Insider offer an abstract of services some of which may include

  • Tax consulting services
  • Audit, risk assurance and advisory services
  • Corporate finance
  • Management consulting
  • Business Support services
  • Technology advisory services
  • Company secretarial and legal advisory services
  • Real estate and asset management
  • Project management, monitoring and evaluation
  • Public sector and civil society consulting
  • Special consultancy – specific organizational needs.

    Tax Consulting Services

    The technicalities of tax regimes and the many annual changes in tax law can become difficult to keep up with. Proficient tax advice is therefore vital to businesses. We will make complex tax issues simple for you. To help you retain and utilize more of your assets while minimizing taxes, Insider's tax compliance and advisory services offer you integrated tax consultation and strategic advice.
    At Insider we don’t consider the completion of an income tax return to be the most important part of our service to you. The real value we bring is to think ahead and help you plan to minimize your future income tax burden. We craft a tax plan that best meets your goals and minimizes income taxes. We know that it’s not what you make that counts, but what you get to keep.
    Tax services provided by Insider are expounded include:

    • Corporate tax compliance services

    The tax chargeable income of a business may be different from the net profit/loss shown in its accounts. This is because some of the expenses incurred by the company may not be deductible for tax purposes. Similarly, some of the income received by the business may not be taxable or it may be taxed separately as a non-trade source income. However, businesses may wish to claim capital allowances on the fixed assets or claim for unutilized losses/capital allowances brought forward from previous years of income assessment.

    We assist our clients in meeting their corporate tax compliance obligations. Our assistance includes;

    • Review of the draft and final accounts in order to determine the taxable sources of income and highlight any tax exposure areas that arise;
    • Preparation of the annual income tax computation;
    • Completion and submission of self-assessment return together with the financial statements to clients for signature and subsequently to the Tanzania Revenue Authority (TRA);
    • Computation of instalment taxes and tax balances payable, advice on when the instalments are due and assist clients  in making payments to the TRA; and
    • Dealing with any clarifications or routine matters relating to the tax computation.

    We also support our clients for tax audits, investigations and assessments by the TRA as a separate component of our corporate tax compliance being outside the scope of service areas listed above.

    • Specific tax advisory services

    Our professional services would address all issues which are not included in the corporate tax compliance or bookkeeping type assistance, due to their complexity and nature which would require specific investigation and analysis on RM’s part. They may cover various aspects of corporate income tax, value added tax, payroll taxes, custom procedures and duties, withholding tax and transfer pricing, and include the analysis of contracts and business transactions.  The tax advisory services may include, for example:

    • Special reports or opinions

    RM would perform analyses and issue special reports or, where applicable, express opinions on tax matters which, due to their complexity, purpose or the level of responsibility require specific attention.

    • VAT refund certification

    VAT refund certification work facilitates the VAT refund process and is carried out by VAT specialists.  VAT specialists verify on a regular basis, for example on a monthly, three-monthly or six-monthly bases, the documents in support of the amounts claimed in order to obtain reasonable assurance that the amounts claimed are free of material misstatement.  Based on this verification, RM will issue the statutory compulsory audit certificate (Certificate of Genuineness) certifying the refundable amount and submit the same to the Tanzania Revenue Authority on behalf of the Company.

    • Tax Risk & Opportunity Reviews

    When performing tax reviews, we assess a company's tax risks and opportunity at a high level. We conduct a review of clients' systems of reporting and compliance to local and international tax laws and provide insights in efficiently addressing potential risks or opportunities .The purpose of Risk & Opportunity Reviews is to evaluate existing exposures and identify possible errors, inefficiencies or potential risk areas. The scope can include all taxes or only certain types of taxes of the client’s utmost concern. Where identified, tax saving opportunities will be explored.
    The review process culminates in a report identifying items found, while also providing recommendations for the way forward in order to resolve each point in issue. While this excludes implementation of the recommendations, it does encompass meeting with the Company’s management and personnel to discuss recommendations and the appropriate strategy for resolving tax issues and minimizing exposures.
    Customized client workshops based on the report with the emphasis on practical approaches have been received as very helpful and useful by clients.

    • Tax Due Diligence

    Identifying tax risks that can impede or even derail a merger or acquisition is a critical aspect of the due diligence process. Our tax due diligence procedures (both buy-side and sell-side, or ―reverse‖ due diligence) will help you pinpoint and investigate tax risks prior to the execution of a transaction. Specifically, we analyze a target company‘s historical compliance in the following areas.

    • Dealings with the tax authority

    RM would act in as many proceedings as may be required to defend the Company’s interests in dealings with the authorities, by any of their agencies at any stage of proceedings. These proceedings could consist of:

    • Drafting and filing any administrative objections against assessments.
    • Drafting and filing claims of any kind with the authorities.
    • Drawing up any special applications required in order to be granted the rights provided for in specific legislation.
    • Assisting the Company with TRA tax audits, including for example attending tax inspections that may be conducted at the Company’s premises, attending to information requests by TRA, reviewing TRA’s quantifications of tax liabilities and meeting TRA officials.
    • Requests for rulings from the tax authorities

    Insider would draft, fill and follow-up any requests for rulings or authorizations that must be submitted to the Tax Authorities.

    • Payroll Services

    There is currently an increased statutory review by the revenue authority (TRA) on employment tax returns audits. A correct operation and compliance with the PAYE system is critically important, along with minimizing payroll costs, including the payroll taxes. The good design of compensation and remuneration packages􀂲including salary, benefits, bonuses and share incentive schemes can provide cost and tax savings for both employers and employees. We can help you achieve this through our payroll services.
    In performing this function we will ensure that we effectively manage an end to end payroll and provide necessary reports. For this service our tasks includes:

    • Designing a tax conscious payroll
    • Employee compensation benefits review and design
    • Setting up the payroll details onto our system
    • Preparation of the payroll including pay slips; this comprises computing all statutory deductions from individual employees’ pay;
    • Preparation of payroll reports tailored to meet your requirements;
    • Transfer of salaries to employees’ bank accounts; and
    • Timely remittance of statutory deductions to various authorities.
    • Preparation and timely submission of PAYE returns to TRA; and
    • Ad hoc payroll related activities.
    • Value added tax (VAT) compliance services

    In Tanzania it’s a statutory obligation for all registered companies to file VAT returns and pay tax on monthly basis. However, there are strict deadlines for filling returns and payment of VAT failure to which are punishable by heavy penalties and interest for whole period of delays and non-payment.
    For our VAT compliance services, we perform the following tasks:

    • Review of various company transactions, nature of business operations, various types of goods/services supplied in order to identify the sources of the goods/services and advise clients for purposes of VAT categorization
    • Advising and assisting clients identify and select electronic fiscal device (EFD) suitable for their specific business operations.
    • Preparation of VAT returns and accompanying schedules and submitting them to TRA on behalf of the company.
    • Withholding taxes compliance services

    The technicalities and complexity of tax regime has increased with introduction of new withholding tax rates on services to companies. The many annual changes in tax laws are difficult for business to keep up with therefore a proficient tax advice are vital to businesses. Our specialist in this field keeps our clients informed on the changes and interprets these changes as tailored to their specific business operations.

    • Review of clients transactions and advise on the services that are subject to withholding tax under recent changes in the withholding tax regime.
    • Based on clients information provided to us we advise and compute withholding taxes where applicable and forward to you for review, confirmation and payment.
    • We prepare on behalf of clients the withholding tax six monthly summary statements (withholding tax returns)
    • Provision of constant reminders for timely submission and payment of withholding taxes
    • Insider  also provides tax compliance advisory services in the areas below:
    • Custom and Excise Duties.
    • Other taxes such as municipality taxes, community taxes, non-fiscal taxes and other fees and duties that may be applicable given the specific object of activity of the Company.
    • Updates on tax developments on amendments, changes and/or new pieces of tax law and related regulations that have an impact on the Company’s tax compliance.
    • Statutory Accounting Preparation and Submission
    • Interactive Training workshops

    It is very effective to conduct a workshop to staff on various taxes, their application and interpretation to clients’ specific business in order to equip existing and new staff with skills in handling company’s tax issues. We also recommend following up the Risk and Opportunity Review with a practical, tailor-made and highly interactive training session to fill in the gaps identified by the tax review where the staff responsible for accounting and tax matters get the opportunity to learn more from our tax specialists. In effect, such trainings have proven to be effective learning tools for various.
    It is has proven to be very effective to follow up the Risk and Opportunity Review with a practical, tailor-made and highly interactive training session. The staff responsible for tax matters would get the opportunity to learn more from our tax specialists. In effect, such trainings have proven to be effective learning tools.

    Due to the customized nature of the interactive workshop, the clients will specify the training needs for the type of taxes to be covered. Alternatively, we suggest to clients the training needs based on the particularities of the tax exposures once the Risk & Opportunity Review has been finalized.

     

    Audit, risk assurance and advisory services

    Making intelligent choices for your business requires timely and accurate financial information. At RM Auditors, we meet this need by delivering the services and resources to help you effectively manage operations and make informed decisions. We share your vision of what your business can become, and work with you to make it happen.

    RM Auditors provides a wide range of services to meet your company’s accounting and financial management needs. Our services allow you to concentrate on what you do best while leaving critical financial functions to us. Our accounting and audit services include:

    • Internal/Management audits
    • Financial statement preparation
    • General ledger maintenance
    • Monthly & year-end closing assistance
    • Account reconciliations
    • Controller & bookkeeper support
    • Payroll & accounts payable processing
    • Accounting systems design
    • Accounting staff training
    • Depreciation schedules
    • Accounting software assistance

    What can we bring you that your current accountant is missing?  Call us today at +255 28 2501224 or email: audit@rm-tz.com .  We’d love to discuss how we can help you achieve your dream for a more profitable and secure future for your business.
    Assurance and advice are two complementary aspects of our core expertise and cover a wide range of services to clients of all sizes in many different sectors.

    • Risk assurance services

    As the name implies, assurance services provide value to decision-makers by providing comfort that information they use is reliable. It relies on independence and objectivity, which is ensured through appropriate selection, allocation and training of partners and staff, together with the application of high standards of quality control. We work on the foundation of quality and integrity complying with International Standards on Auditing (ISA), and well focused on the goals to achieve. We set milestones and time - frames for every project undertaken and our team engages in constant interaction with the client, from start to end. This ensures that our report complies with client requirements and our end result accredits to customer satisfaction. Also, we execute a CSQ (Customer Satisfaction Questionnaire) a feedback mechanism from the client to rate our performance and improvise in the areas required. Thus our "balance -sheet" sets a unique equation between quality and time-bound delivery. Services include:

    • Statutory audit, which provides a high level of assurance to those using the annual accounts of companies and other entities
    • Non-statutory audit and supplements to statutory audit, which can be tailored to the particular needs of users and circumstances of the entity being audited.
    • Internal audit, providing assurance to management that its systems and controls are effective both in design and in operation.
    • Special-purpose reports for particular users who seek independent corroboration of financial information supplied by a business.
    • Report on the reliability of non-financial information supplied by entities for various purposes.
    • Reporting to regulators on financial and non-financial information produced by regulated businesses
    • Specialized fraud reviews
    • Advisory services

    Effective management is what turns ideas, products and services into steady profits, but businesses need stable foundations and even the most creative commercial ideas have to stack up financially. Services include:

    • Helping clients set us reliable accounting and control systems (both computerized and clerical)
    • Assisting clients with the preparation of regular management information, including management accounts.
    • Helping clients with the preparation of annual accounts that meet statutory and other requirements.
    • Providing sound and insightful financial advice and commentary based on reviewing the accounts and other information.

    Our assurance and advisory team have amassed a wide a range of knowledge, skills and experience working with many different organizations, both in the private and public sectors. Our clients range from small owner-managed businesses to listed companies, partnerships, donor funded projects and Government bodies – and we cover a broad spectrum of industries and sectors. Therefore our team can bring these to bear on your business to ensure that you get maximum value out of an audit, an advisory assignment or even a simple accounts preparation task.

    • Management audits

    Internal / Management audit: The RM team‘s audit techniques are customized as per client requirements. The scope of the audit is defined as per the internal controls and is carried out with specific emphasis on cost control.
    Project audit: Project Audits are carried out in a phased manner, right from the Planning to execution phase, where each milestone is assessed/reviewed for the inputs (cost, material etc.) and the outcome of each phase is audited, with the budget slab.
    Risk assessment / reviews: Risk analyses are carried out during the execution of every phase of a business process and the corresponding risk factors envisaged are duly studied, to generate a Risk Mitigation Report. This helps our clients to minimize unavoidable risks and also take a different course in cases, where risks can be nullified.

    Why choose RM Auditors?

    RM is committed to delivering an audit that adds value – our partner-led service gives you much more than just your ―business MOT.

    • We work to understand your business, its goals and its issues, bringing extensive sector knowledge and experience to the task.
    • We work with you, offering continual attention – not just at the year-end.
    • We adopt a risk-based approach, carrying out an up-front risk assessment that focuses on your business‘s key concerns and identifies potential threats.
    • We can flag up other potential issues, mainly financial, that may affect you.
    • Subject to independent constraints, we can also offer pro-active advice on the risks you face, including practical solutions to accounting and systems weaknesses.
    • Our reporting is clear and accessible, avoiding jargon.
    • For smaller organizations, we also offer a basic audit that delivers the compliance and peace of mind you need at a cost you can afford.
    • With RM, you can have greater confidence in your business‘s financial information, while making your financial reporting process easier, more effective and more in line with your business goals.

    Corporate Finance

    Turning your business into a successful reality requires specialist assistance and often calls for additional finance. An acquisition, disposal, listing or overseas expansion may be the single business transaction you will have faced. The support of people who have many years’ experience in these areas can make the difference

    • Financial Investigations and business valuations

    We specialize in financial investigations and valuations of companies and business in all sectors, providing:

    • Pre-acquisition and pre-lending investigations for trade buyers and financial investors
    • Post-acquisition investigations to assist in the integration of newly acquired business
    • Vendor due diligence, pre-disposal due diligence for vendors and potential acquirers
    • Long-form investigations and reports for stock exchange listing and transactions
    • Market valuations of companies and businesses for sale, purchase or fundraising
    • DCF valuations of businesses, assets and fast-moving technology

    Our Experience

    We provide an investigative financial analysis of a business, including results/projections, taxation, cash flows, operational resources, management information, systems and controls, and management and employee issues.
    This helps you to address the key issues facing the business and, in particular, the drivers behind maintainable profits and cash flow.
    Our commercially focused reports assist you in your evaluation process and satisfy the requirements of your funders.

    • Mergers and Acquisitions and Disposals  

    At certain points in the development of a business it may be appropriate to enter into M&A transactions that result in a significant change to the shape of the business going forward. The reasons behind such changes vary but it is vital that a business seeks good professional advice when considering such options.
    Getting the numbers right can make or break a corporate merger or acquisition. That’s why your choice of accounting firms to support your M&A activity is critical. The best choice? RM Auditors. Here’s why:

    • Work with our best people from start to finish. At some accounting firms the partner who sells you on the company disappears when the work begins. Not here. The people you meet up front are the people you’ll work with throughout the process. Good, experienced people – many of who have worked at the large, national accounting firms in the M&A sector.
    • We are deal makers! We go beyond the numbers to help identify, organize and facilitate mergers and acquisitions for our clients and companies in the numerous industries we serve. We bring deals to the table.

    RM has considerable experience in advising and supporting clients in the planning, negotiation, and completion of M&A deals. Our involvement at an early stage is advisable to ensure you are properly prepared as this is fundamental to the success of any M&A transaction.
    We offer a wide range of services to support M&A transactions which include the following:

    • Strategic advice - we provide support in the initial planning stage of your business development. A third party view is often invaluable in exploring your options
    • Valuation advice - we can provide guidance on possible values of acquisition targets or businesses that are to be divested
    • Business Planning - we can help you plan in more detail how your M&A transactions will fit into your business development strategy
    • Financial Modeling - we can assist in the development of financial models to assess the impact of the M&A transaction and to help identify any associated fund raising requirement
    • Re-active acquisition search - we can use our M&A team and national network to identify acquisition opportunities where a party has made it known that a business is for sale
    • Pro-active acquisition search - we can research potential targets that are not currently for sale and approach them on your behalf to see if they may be interested in entering into preliminary discussions
    • Full acquisition support role -once an acquisition or merger target has been identified, we can support you through the whole process. This will include initial negotiations/investigation, valuation advice, agreeing the form of the deal, due diligence, negotiation of the acquisition agreement and working with your lawyers and other advisors until the deal is completed
    • Full divestment support role - should you wish to sell part or all of your business we can provide a full support role. This could include a pre-sale evaluation, valuation advice, preparation of an information pack, research of likely buyers, approaching buyers, agreeing the form of the deal, due diligence, negotiation of the sale agreement and working with your lawyers and other advisers until the deal is completed.

    An M&A transaction represent a significant challenge for the management of any business. As part of your team, RM would be delighted to help you in reaching a successful outcome.

    • Financial Due Diligence

    Our due diligence team is composed of specialists who will work closely with your internal team and other advisers to deliver a fully integrated support service, delivering reports tailored to your requirements.
    Teams come equipped with local knowledge and have access to ancillary specialist services and sector expertise.
    In major transactions - such as acquisitions, disposals and mergers - both you and your funders need the best possible assurance that there are no unforeseen hazards inherent in the venture. Due diligence is the process by which we assess all the relevant financial factors thoroughly in advance.

    Deal structuring

    Deal structuring is a prerequisite study before any merger/ acquisition deal is finalized. Deal structuring is a segmented approach to the payment deeds of any business transaction; where precisely formulated documents of the company‘s assets, capital, debts and the funding for the transaction are phased to ensure a smooth, discrepancy-free process. We provide support throughout transactions, from pre-deal evaluation through to completion and post-deal integration or separation. Our services include:

    • Pre-deal evaluation – Initial desktop review assessment to identify the key risk factors and potential deal breakers in the proposed transaction
    • Transaction evaluation – Comprehensive financial due diligence review as part of your overall assessment of the proposed transaction
    • Vendor Support – Pre-sale reviews and grooming of businesses prior to disposal
    • Vendor due diligence – An independent analysis and evaluation of a business‘s financial performance, prepared at an early stage of the disposal process
    • Stock exchange reporting – We take on the reporting accountant role in public documents on the Official List, AIM and other public markets.
    • Reporting accountant services

    When you wish to float your company on a stock exchange (e.g. AIM or the Official List), comprehensive reports are required to support the flotation. These are prepared by the reporting accountant.

    Our Experience

    RM has a good track record of acting as Reporting Accountants for listing companies on Dar es Salaam Stock Exchange (DSE).
    Our team of experienced professionals includes individuals who have vast experience giving us vital insights into the likely key issues well in advance. Our multi-disciplinary team also adds value in areas such as tax advice. We help you anticipate the tax impact of listing and advise you of tax benefits and employee share option schemes.

    • Investigations and Forensic audit services

    Forensic auditing is a blend of traditional accounting, auditing, and financial detective work. Technology has an increasingly important role to play, with complex data analysis techniques employed to help flag areas that warrant further investigation.
    Forensic auditing offers a toolset that company managers can use to help detect and investigate various forms of white-collar financial impropriety and inappropriate or inefficient use of resources. As company structures and controls become ever more complex, so too does the scope for employees with specialized knowledge of the way control systems work to bypass them.
    In the past, various forms of auditing have been employed after a major control breach has come to light, but executives are now increasingly looking at forensic auditing to help identify vulnerabilities in financial control.

    Our Experience

    We offer a different approach, team structure and cost efficiency while still delivering robust advice and expert evidence based on the breadth of our experience. Our approach is focused and proportionate, quickly identifying the critical aspects and ensuring you can make informed decisions in a dynamic dispute resolution and investigatory environment.

    Our forensic experts have considerable experience in fraud and financial investigations.

     

    Management consulting

    Insider provides a wide range of business advisory and management consulting services to help clients improve their performance and profitability. We work closely with corporate entities, entrepreneurs and other business owners every day, and understand it takes more than ideas, dreams and desires to succeed. It takes a common vision and detailed plan, with all employees working toward well-defined goals.

    In order to move your business forward and achieve your goals, it is vital to understand where your business is today and create a roadmap to get you to your destination. We work with you to ensure that your strategic plan expresses realistic, consistent and focused objectives. We then help you craft strategies to help you reach your objectives, and a timetable for doing so. We establish measuring and reporting systems that assign responsibility and accountability for attaining goals.

    Management consultancy is about helping organizations to improve their performance. A good consultant helps you to fine-tune your business or organization to measure success, improve efficiency, maximize performance and minimize risk. An effective service lets you know where you are, decide where you want to go, and work out how to get there.
    Our advisory services are designed to assist businesses at all stages in their life cycles, including
    We provide a wide range of management consultancy and professional services from strategy formulation through programme and project management, and specialist advisory and development services in disciplines such as finance and ICT, to support on implementation and delivery.
    We enable clients to achieve integrated solutions to their business requirements and to complete a change programme to time and budget. We acknowledge a need to provide best value for money and leave sustainable benefits from our assignments
    Our advisory services are designed to assist businesses at all stages in their life cycles, including

    • Starting a Business
    • Business Management Support
    • Growth Strategies
    • Asset Protection
    • Business Succession
    • Executive Compensation
    • Exit Strategies

    Every company is unique. We’ll create a strategic plan that provides the direction necessary to achieve success.
    Our expertise includes:

    • Building performance indicators; Costing of individual business processes;
    • Reviewing business processes for efficiency, control and effectiveness
    • Project management of multi-disciplinary programmes;
    • Business planning, strategic development and diversification strategies;
    • Enterprise commercialization, restructuring and privatization strategy studies;
    • Reorganization of financial and administrative functions within public sector organizations;
    • Project feasibility studies and computer-based financial forecasting;
    • Profitability improvement and efficiency studies;
    • Design and implementation of computer-based management information and financial control systems;
    • Take investigatory and feasibility studies designed to improve performance in any specific organizational operation, generally focusing on management and operational efficiency, and financial and quality control;
    • In Business Process Re-Engineering, to deliver a wide range of business benefits including efficiency savings, transformation of organization culture to one delivering value from the customer‘s viewpoint, reduction of cross functional bottlenecks, improved team working with interdisciplinary work groups focusing on process improvement, less waste and delivery of more relevant management information.
    • In Benchmarking, assessing how comparable organizations, or similar business processes within otherwise dissimilar businesses, operate. We can advise and assist organization seeking to benchmark their performance in accordance with any or all of the Business Excellence Model criteria
    • Conducting training in organization and management development
    • Environmental Management Consultancy
    • Environmental Impact Assessments and Environmental Audits
    • Health and Safety Audits

    Our Experience

    We have a team of experts in best-practice techniques with access to performance databases on typical services provision and industry-specific processes.
    Our methodology brings together a variety of creative problem solving techniques with the use of industry specific benchmarking within an ordered framework in order to provide a client with a reliable basis for generating solutions to seemingly intractable problems.
    Moreover, if you are seeking funding for a business idea, having a business plan is critical. You will need to demonstrate to potential backers a strong understanding of how and why there is a need for your product or service. These backers will also need concrete reassurance as to how their investments will be repaid.
    RM can review your business plan and help you to complete it, highlighting its areas of weakness and suggesting remedies.

     

    Business Support services

    What are business support services? Quite simply, they give you the freedom to get back to running your business. Today it is very easy to drown in red tape. Legislation, regulation, the demands of HR and IT All of these can consume valuable time and energy, slowing your real work down. And that's just everyday life. If you want to develop and expand into new areas, things can get much more daunting. That's where RM's business support services come in.

    What do we offer?

    • Finance department outsourcing

    An outsourced finance department can significantly reduce your administrative burden and your IT and finance staff costs. With RM performing your accounting and administrative functions, you will have continuity of service and more time to concentrate on growing your business.
    Our specialists work to understand the dynamics of your organization so that your specific accounting needs are met. We provide management with information vital to the running of the business. We will ensure that you are fully compliant with regulatory requirements and that you meet reporting deadlines. We can also help you prepare an internal financial procedures manual based on best practice and the systems adopted by your organization.

    • Accounting software selection

    We can ensure that your organization is using the most appropriate accounting software. If you are frustrated with your existing system, or wish to implement a new or enhanced system, RM can give you objective advice on the best choices. Often, we find that existing software is perfectly adequate with just a few improvements required.

    • Management reporting

    In any business, key financial decisions by management must be based on hard data. This makes it vital to have effective management reporting.
    We can set up your chart of accounts to ensure that you receive the correct management reports when you need them. We can prepare management accounts quarterly or monthly as appropriate. We can prepare VAT returns based on these reports and assist with the preparation of financial projections. We can also prepare year-end accounts for you, with a fully cross-referenced working paper file ready for submission to the auditors.
    Our diverse sector experience means we can also offer you added-value commentary based on variance analysis. With RM, your management‘s decisions will always be fully

    • Business Planning

    A business plan is vital if your business is to evolve in anything other than a haphazard way. It helps you gauge income and expenditure, handle unforeseen circumstances and underpins good business decisions. It provides valuable information to those who work for you or with you (such as suppliers) and assists with the proper allocation of resources.
    Moreover, if you are seeking funding for a business idea, having a business plan is critical. You will need to demonstrate to potential backers a strong understanding of how and why there is a need for your product or service. These backers will also need concrete reassurance as to how their investments will be repaid.
    RM can review your business plan and help you to complete it, highlighting its areas of weakness and suggesting remedies. As a first step, it is helpful if you try to complete our business plan questionnaire to assess your plan‘s current state of readiness. This will help to provide us with a rough initial picture of its current strengths and areas of weakness, enabling us to target our advice more effectively.

    • End of year accounting assistance

    RM can provide you with expert support when you are preparing your year-end statutory accounts. We offer precisely the level of assistance you need – from simply helping you get ready for an audit to undertaking the complete preparation of your accounts. Our extensive experience in this area covers all kinds of organizations, including limited companies, partnerships, charities, trusts, sole traders, joint ventures and other business entities.

    Inward Investors

    If you are based overseas and are building your operation in the UK, RM‘s range of services for inward investors can help you overcome the many challenges involved.
    We can prepare:

    • multi-currency management reports under US GAAP or IFRS
    • year-end statutory accounts
    • Timely reports for inclusion in the group accounts.

    We can handle:

    • VAT registration
    • completion of quarterly or monthly returns
    • payroll services

    We can provide:

    • Advice on transfer pricing
    • Expert guidance on direct and indirect global tax planning issues
    • Company secretarial services.

    Payroll

    Our payroll consultants will help you negotiate a highly complex area of law that has strict penalties for failure to comply. We take care of all the forms and paperwork, organizing our schedule to meet your timescales and ensuring that deadlines are met.

    • Human Resource Consultancy

    Getting the right people and ensuring that they have the necessary skills is essential for business success. RM offers a specialist service providing independent human resource advice in a variety of key areas.
    Getting human resources right is critical to the success of many businesses. For efficient utilization, we provide the following:

    • Management Audits – providing assurance on suitability of the existing manpower to effectively carry out the tasks allotted to them
    • Manpower planning – advising on optimal manpower requirements based on the client‘s current and future needs
    • Executive searches and recruitment – RM consulting ensures that staff recruited will fit in within the client‘s structure and organization culture.
    • Human resource policies and procedures – reviewing, designing and documenting human resource policies and procedures
    • Design of remuneration and benefit structures and performance based reward schemes – designing packages that increase staff loyalty and performance.
    • Training and Development - If you want to leap ahead!

    The performance of people in any organization is crucial to achieving business success in a highly competitive world. The more capable and qualified the employees the better the performance of the organization. Staffs therefore, need to be continuously developed in order to realize their full potential and to secure competitive advantage for the organization
    Whilst we recognize the importance of structured on-the-job development, the role that formal off-the-job training provides is also critical in the development process. We provide a comprehensive generic range of training and development courses and workshops, designed to meet the varied and changing needs of employees at all levels.
    The programs are skill based and provide considerable opportunity for practical sessions and discussions.
    We also provide personalizes in house training for the organizations Staff. RM is always happy to discuss tailored courses for your organization.
    What’s in it for you?

    • Increased job satisfaction and morale among employees
    • Increased employee motivation
    • Increased efficiencies in processes, resulting in financial gain
    • Increased capacity to adopt new technologies and methods
    • Increased innovation in strategies and products
    • Reduced employee turnover
    • Positive Impact on bottom line
    • Increased retention of staff
    • Improved productivity
    • Great customer care
    • Remaining competitive
    • Improved work culture

    Technology advisory services

     

    Information Technology is at the heart of our customer service. Our own systems are structured to provide our staff with both power and flexibility. 

    IT Policies

    The IT Policies of the client company is studied and based on the study, IT strategies are devised by us. The existing policies are also reviewed to ensure compliance with the standard norms. Additionally, our scope of review extends to revision of the policies if necessary.

    BCP/ DRP Reviews

    Business Continuity Process or BCP outlines a plan of action / methodology in the event of a disaster (natural/artificial). This ensures that all business processes are not disrupted, and maintain a state of continuity. BCP reviews also help in reducing operational risks and can be integrated with risk management practices, and information security systems and structuring of IT set up.
    DRP: Disaster Recovery Planning is a sub-process of BCP, and is a process of recovering / salvaging access to lost/corrupted data in hardware/software, to resume critical business operations. DRP reviews help in ensuring that the standard back up procedures are carried out periodically. Crucial factors such as RPO (recovery Point Objective) that determines how current the data should be and RTO (Recovery Time Objective) which determines the time-gap between disaster and recovery are assessed. Also, the existing infrastructure for securing information systems is analyzed, and if found deficient, upgrading is advised.
    Structuring of IT set up: The working system/software at client's end may require revamping/ remodeling/restructuring to maintain integrity and to suit the growing needs of the organization. Moreover, some legacy systems may call for a migration to a more robust, user-friendly and multi-utility software. Our team of certified ISA professionals assists our clients in restructuring their IT infrastructure to suit their requirements.

    Company secretarial and legal advisory services

    Business and Corporate Law

    You've worked hard to own your own business. Diligent representation during formation and contract negotiations can help prevent problems that may threaten your business down the road. We'll work with you from the beginning, advising you on what type of business to form (a Corporation, Partnership, or other), and preparing your organization documents.

    LegalOur Services include:

    • Company formations
    • Corporate Secretarial
    • Shareholder & Partnership Agreements
    • Business & Commercial Transactions
    • Mergers, Acquisitions and Dispositions
    • Conveyance
    • Receivership
    • Insolvency
    • Contract Drafting & Negotiating

    Our experience

    • Employment Law

    Whether you have one employee or 1,000 employees, employment law is no longer an area any business can afford to ignore. The ground rules change yearly, and staying current is an operational challenge.

    Our firm specializes in ensuring that businesses are in compliance with all areas of employment law and in preventing employment-related problems before they arise.
    Our Services under Employment Law include:

    • Due Diligence - Compliance Audit for new Labor Laws
    • Training on & Incorporation of New Employment & Labour Law Relations
    • Contracts Drafting & Negotiation
    • Banking & Financial Institutions

    The banking industry is highly regulated in Tanzania. Compliance with statutes, rules, and regulations applicable to banks and other financial institutions is detailed and highly complex. The assistance of competent firm like ours is a necessity when dealing with such matters as commercial loan transactions, real property and asset-based financing, real estate, wealth management, and regulatory matters. Our understating of the banking industries and banking business in Tanzania greatly enhances our representation of large and small financial institutions.
    We can assist with;

    • Loan documentation and negotiation
    • The creation and perfection of security interests.
    • Bank regulatory compliance
    • Advice on unique banking law issues
    • Various matters for bank securities, debenture and mortgage
    • Insurance Law

    Our services include but are not limited to providing advisory services to our clients on compliance to insurance laws and the benefits thereof.

    • Capital Markets & Securities

    Our capital markets and securities practice provides a full range of services in advising underwriters, issuers and purchasers in both public and private securities offerings. These offerings involve debt, equity and combinations thereof in certain instances. The scope of work includes advising on transactions such as:

    • Initial Public Offerings (IPO)
    • Secondary Public Offerings
    • Bond Issues
    • Private Placements
    • Rights Offers
    • Compliance With Ongoing Obligations In Terms Of The Listings Requirements Of The DSE (Dar Es Salaam Stock Exchange)

    Our role in capital markets transactions includes acting as Tanzanian counsel for both issuers and underwriters for cross-border transactions.

    • Intellectual Property

    Intellectual property is a critical component of any business strategy. Well-crafted and properly managed IP has the ability to enlarge the footprint of any company on a domestic and international level. On the other hand, poorly managed or neglected IP has the ability to unravel the most efficient operation. It can be a shield to protect a company from competitors and, if skillfully obtained, can be a powerful offensive sword.
    Corporate & Legal Services Limited is a full-service intellectual property firm that specializes in helping companies of all types and sizes develop and protect their intellectual assets. With experience in patents, trademarks, copyrights, and licensing programs, Corporate & Legal Services Limited IP can handle all of your intellectual property needs which include:

    • Patents & Trade Marks Registration. The registration process takes about 90 days, it includes:
    • Conducting an official search
    • Advertisement in the Government Gazette
    • Registration
    • Legal Drafting & Negotiations

    RM will provide technical assistance in your general and specific business transactions by providing legal drafting and negotiation services which include:

    • Employment Agreements.
    • Equipment Lease Agreement for clients engaged in leasing various types of business equipment, and assistance in the implementation of the lease program.
    • Consulting Services Agreements for clients providing consulting services, while protecting the unique intellectual property assets of the client.
    • Full-form Construction Contracts for a variety of industrial construction clients.
    • Franchise Agreements for a variety of franchisees.
    • Customer Agreements, including full compliance with Tanzanian statutes.
    • Publishing Agreements on behalf of authors.
    • Joint venture arrangements to establish business partnerships.
    • Development Agreements.

Tax News

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