UAE has been an ever changing and evolving market. The introduction of VAT was a major step in the country as tax was something unheard of in the UAE. However, tax is a norm in every part of the world and Achal Ghai who has a vast amount of experience working as a corporate banker in some of the leading banks in India, UAE & Canada could see the potential in establishing a company that could hand hold customers through this transition to the new tax norms in UAE. The market was huge and although Mr. Ghai was aware of the large amount of competition, especially from small companies with aggressive pricing and low standards. He never doubted his vision and he knew that they could never match the service and quality that his company would be able to provide. He partnered with the Fame Group which was the leader in training services in this sector.
The Start of VAT Middle East
With the vision being clear to setup a strong vat consultancy that could support the clients, Achal Ghai built up a strong and capable team to spearhead his vision. The company which became very popularly known on radio and other media as VAT middle east was formed. Achal was also the first person who saw the potential that Zoho (accounting and tax software) could play in the UAE market. He quickly acted, flew to Chennai to see their operations and become one of the first channel partners in region. He also took Zoho to the FTA and got them approved as a solution. As expected, VAT middle east become a well-known and reliable name in the market for VAT return filings, accounting services etc. Their subscription model was well suited for companies that were small, medium sized, or large organizations with customized packages.
Name of VAT Middle East changed to Fame Legacy DMCC – Among the first few registered Tax Agencies with the FTA
The collaboration with Fame Advisory then turned into a Partnership and the business is now conducted under Fame Legacy DMCC and managed by Partner Nirav Shah. What Fame Legacy brings to the fore is the best trainers, tax agency status to handle difficult cases as well as professionalism & transparency. The company was one of the first FTA registered Tax agency in DMCC and has continued to grow steadily despite all changes and challenges in the market during the pandemic. Fame Legacy DMCC is one of the top Tax Agencies in UAE today and it all started from the vision of Mr. Ghai to build a diversified yet synergetic Services Businesses under the Legacy Emirates Group banner. Fame Legacy plans to expand across the GCC as VAT is rolled out in these respective countries.