Are you a businessman in Dubai in need of VAT consultant services? You probably make sales and purchases each day that often result in huge transactions. As a result, you are prone to many tax liabilities and huge tax penalties in case you fail to file appropriate VAT returns. You therefore need an expert VAT consultant to advice you accordingly and lend a hand with submitting the VAT returns.
VAT consultants handle all your tax liabilities on your behalf, and advise you on the VAT implications for every transaction you make. They also help beginning business owners with VAT registration.
Most business owners in Dubai are not well conversant with VAT return laws, as a policy introduced to the UAE just a few years back which is why having a VAT consultant in UAE is very important to guide you correctly. . Consequently, you may just find yourself on the wrong side of VAT enforcements.
There are plenty of tax consultant companies available. A VAT Consultant in Dubai will still require payment regardless of the outcome of their services, so to be on the safe side, you need to hire the very best. So how do you go about it?
Here are a few tips on what to consider before you hire a VAT Consultant
- Qualifications
- Experience
- Service charges
- Legal licensing
- Track record of delivery
- Professional cod
- Reliable customer care and accountability
Let’s delve into the details.
Qualifications
Academic qualifications and proper training in the field is a very vital requirement for every VAT Consultant in Dubai before you can trust them to manage VAT returns and liabilities for your business. Unqualified VAT consultants may mislead you into making terrible decisions that may end up costing you an arm and a leg in tax penalties. So before you take on the services of any consultant, always demand to see solid proof of outstanding qualifications.
Experience
Experience is an indispensable factor to consider before choosing a consultant to help with your business. The more productive years spent in the practice, the better. A consultant with no experience is themselves a liability to your business. Much as newbies deserve a chance too, VAT liabilities are not a gamble you want to take, as you risk losing a hard-earned fortune at the hands of an armature. The type of experience should also be compatible with your needs. If you need a consultant to help with tax penalty reconsiderations, look for one with particular experience in such situations.
Charges
As much as you need the services of a qualified, experienced VAT Consultant in Dubai, you don’t want them digging too deep into your pocket either, right? Every businessman would rather save a few more bucks where they can, and the work of a VAT consultant is to help you avoid incurring too much unnecessary costs, after all. So you need to find a consultant that will help you save more money while charging you reasonably.
Legal licensing
VAT consultant experts and firms basically help you abide by the law. Therefore, they should also have the necessary legal certifications and credentials to provide these services. Always ask to see the legal papers before taking on their services.
Remember, working with an unauthorized VAT consultant amounts to an offence that could have serious negative implications for your business. Don’t take that risk, always demand to see the legal license for your consultant or their firm.
Track record
A good VAT consultant will always have several satisfied clients who can give him credit for his services. Ask for references, and make detailed follow up of the expert you intend to hire in order to find out the track record for his service delivery. It is very important that you hire a VAT consultant with an impressive reputation that can be backed by several references. This way, you can feel safe entrusting them with your business affairs.
The best VAT consultant companies are those that have successfully worked with big companies and international business corporations.
Professional code
Tax and accounting issues are serious business that can only be handled by experts cut out for it, especially when the law is involved and valuable assets are on the line. You don’t want to be taking your chances with a shady consultant or a clown masquerading as an expert.
Every VAT consultant expert or firm you hire must demonstrate a strict code of ethic and professional conduct. They have to look the part, provide necessary credentials and proof of qualifications. They should also be able to assure you that they got your business covered.
Reliable customer care and accountability
Despite hiring experienced VAT consultants from credible firms, you may sometime find yourself rubbing shoulders with uae vat value added tax enforcement. When this happens, some bogus tax consultant firms will leave you to wade the mucky waters of tax evasion penalties on your own.
A proper, ethical and professional consultant or firm should always be ready to step in and help you avert any possible penalties resulting from overlooked liabilities.
What are some of the services you can expect from a VAT Consultant firm?
A VAT consultant or firm should be able to provide you with a comprehensive understanding of the VAT and tax laws and regulations in general.
They can educate your staff on how to maintain VAT-related tax records in accordance to the law. They should be able to come up with a working program that keeps your company up to date with VAT requirements.
A VAT consultant should be able to analyze your business plan and predict the VAT implications that you may have to deal with.
Conclusion
Hiring a VAT consultant is very crucial in Dubai and the UAE in general. Since the implementation of VAT Consultant in Dubai laws back in 2018, conducting business has to be strictly in adherence to these laws. Even with comprehensive understanding of tax laws and regulations, VAT laws tend to be quite evasive, and it can be a very unpleasant experience to fall out with VAT enforcement. The services of VAT consultants are therefore quite important for any business in order to avoid or litigate incurred tax penalties.
Since hiring their services entails trusting them with your business, it is important to choose qualified, experienced, reputable and professional consultants who can have your back when things go south. More importantly, they should go easy on your pocket too.
