When your business is simple and straightforward and has no major transactions, there are no complications in filing your taxes on your own. However, with all the new laws and reforms coming in, it is no more simple process rather a time consuming one. This is because not all are professionals or have time for managing accounts and filing taxes. Perhaps, it is the most panicking situation to the most taxpayers and business owners after the VAT policy was implemented in the UAE.

However, there are solutions and ways for every difficult scenario. Apparently, hiring a VAT consultants UAE is perhaps the wisest decision to get rid of this heavy responsibility.

There are a few reasons why you need to hire a VAT Consultants in UAE

Reasons to hire VAT consultants UAE

Whether you have an established business or establishing a company, you certainly need an accounting professional to manage accounting information and to take major financial decisions. Although this is often important in major countries, yet when you live in the UAE, you cannot ignore this. One of the primary reasons for this is, the Middle East countries like UAE, Bahrain and a few others are a hub for financial services for different kinds of business.

Here in this post, you will know everything about the VAT consultants in UAE, their needs, benefits accrued from them and their roles and responsibilities in every business.

First of all, let us see a few good reasons why need to hire VAT agents in UAE

They understand your business better and implement VAT- Businesses that are not registered for VAT cannot charge VAT on their sales and eventually will not able to entitle any VAT remittance on their products. Perhaps, VAT implementation is often crucial and in fact, imperative for businesses that have not planned for VAT. VAT consultants UAE have profound knowledge about the business. When you hire VAT consulting firms in UAE, they visit your office to understand the business model for designing a VAT that would match your business needs.

Save Time and Energy– When you want to do the tax filings by yourself, it takes hours together to dig up records, check and compile all from top to bottom even before you start your filing process. This is not only testing your time and consuming a lot of your efforts but, at the end of the day, you are bound to miss some aspects that need more attention. However, on the other hand, when you hire VAT agents in UAE, you can spend your potential time with engaging new clients or other business needs.

You will get an expert eye– VAT consultants UAE majorly have a bachelor’s or post-graduate degree in tax, accounting and law. Most of the professional consultants have years of experience in the industry. So, when your tax filing is taken care of by these professionals, you would never miss anything for sure. This can perhaps help your business in filing the taxes correctly without missing out figures and help you get the best claims.

But what can you actually expect from VAT consulting services in UAE or what does a VAT consultancy firm do?

What do VAT Consultants in UAE do?

The major objective of VAT consulting services in UAE is to gear up to face the challenges and opportunities due to the implementation of VAT since Jan 1, 2018. They provide a broad variant of VAT services to the customers such as accounting & bookkeeping, VAT return filing, tally software service, outsourcing & payroll, and audit & assurance and much more. Let us see each of those services in brief

• Accounting and Bookkeeping – Many VAT consulting firms in the UAE generally prepare detailed financial statements and performs the audits of the public companies when they are preparing for tax filing. Accounting and bookkeeping are very essential to run a successful business. The VAT consultants UAE provide customized solutions individually tailored to meet your business needs by offering reliable accounting and bookkeeping services.
• VAT return filing– UAE government has made it mandatory that people obtaining taxable incomes should file VAT returns. VAT doesn’t just terminate with quarterly tax payment, yet there is plenty to focus if you want to run a sustainable business at ease. The VAT consulting firms in UAE endure small and mid-scale business owners to steer the newly introduced VAT policies and also provide services that match with your business model as well as the market.
• ERP service – several popular business management software or ERP has provisions for VAT in UAE. These would be the one-stop solution that allows you to forecast, determine, and tackle all of your accounting & finance information, income, expenses, and the whole lot that is associated for the successful operation of your business. The VAT consulting services in UAE ensure that your company keeps pace with the modern technology and legal legislation.
• Improved Finance process – A good VAT expert can provide you with an improved process of finance. Basically financial and business activities necessitates consideration and review. Therefore, instead of doing it by yourselves, hiring an expert eye can be more beneficial for your business. The vat consultant experts can provide major decision when it is critical to financing. Moreover, they ensure that all your tax estimations and paying processes are carried out effectively.

Bottom Line

Since the value-added tax was initiated in January 2018, small and large enterprises are often facing challenges with value-added tax and its remittance. Apparently, with the availability of the VAT consulting firms in UAE, you can get expert advice from them.

They cover all VAT related as well as other accounting requirements of an organization such as VAT Registration, VAT Consulting, financial accounting, VAT return filing, by contributing their extensive expertise and comprehensive knowledge of the Tax Laws and Regulations to the diversified business range.