In-Country Value (ICV) Audit & Certification: Strengthening Local Economic Growth
In the UAE, the In-Country Value (ICV) program plays a vital role in fostering economic diversification and growth by encouraging businesses to contribute to the local economy. VAT Wizard offers expert ICV audit and certification services, helping organizations comply with the UAE’s ICV framework and leverage its benefits.
What is the ICV Program?
The ICV program was introduced by the UAE government to promote local manufacturing, increase the use of local goods and services, and create job opportunities for UAE nationals. The ICV certification assesses a company’s contribution to the country’s economy based on financial and operational performance metrics.
Key Objectives of ICV Audits
Economic Contribution
Evaluating a business's local procurement, investment, and workforce.
Regulatory Compliance
Ensuring adherence to ICV guidelines and requirements.
Business Opportunities
Enabling companies to qualify for government and semi-government contracts.
Our ICV Audit & Certification Services Include
ICV Assessment
Comprehensive evaluation of your company's financials for ICV compliance.
Gap Analysis
Identifying areas to improve your ICV score.
ICV Certification Preparation
Preparing and submitting accurate reports for certification.
Continuous Support
Ongoing guidance to maintain and enhance your ICV score.
Why Choose VAT Wizard for ICV Audit & Certification?
Certified Expertise
Team of professionals certified to conduct ICV audits.
Tailored Approach
Customized solutions to meet your specific business needs.
Regulatory Knowledge
Extensive understanding of UAE’s ICV framework.
Transparent Process
Clear and actionable audit reports with recommendations.
Benefits of ICV Certification
Access to Tenders
Qualify for lucrative government and semi-government contracts.
Enhanced Competitiveness
Gain a competitive edge in the local market.
Economic Alignment
Showcase your commitment to UAE’s economic vision.
Optimized Operations
Identify and implement cost-effective local procurement strategies.
ICV Audit Process
Initial Consultation
Understand your business operations and goals.
Data Review
Analyze financial statements and operational data.
ICV Score Calculation
Calculate your contribution to the UAE economy.
Report Submission
Prepare and submit the ICV certification application.
FAQs about ICV Audit & Certification
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Is ICV certification mandatory?
No, but it is essential for businesses seeking to bid for government and semi-government contracts.
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How is the ICV score calculated?
The score is based on financial performance, including local procurement, Emiratization, and investments.
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How long is the ICV certificate valid?
An ICV certificate is valid for 14 months from the date of issuance.
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Can VAT Wizard help improve my ICV score?
Yes, we provide a detailed gap analysis and recommend strategies to enhance your score.
Let VAT Wizard Simplify Your ICV Journey
Achieve compliance and maximize your business potential with VAT Wizard ’s ICV audit and certification services. Contact us today to strengthen your alignment with UAE’s economic vision.
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