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Post By: admin September 16 2020

Everything You Need to Know Before Choosing a VAT Return Filing Consultant

To remain on the safe side of the VAT law, one must get the simplest VAT firms in Dubai to assist with filing the returns. Today, we shall check out what to think about when hiring a VAT firm in Dubai. The implementation of the Value Added Tax within the United Arab Emirates may be a reasonably new change, and this alteration was made to assist both the general public and the business entities. Not only will the VAT reduce the dependency of the country on the oil and hydrocarbon sector, but it'll also simplify the tax filing process. VAT return filing is an important mechanism for the viability of the VAT system. The government has even levied penalties just in case the varied entities don't properly file the VAT. Helping businesses to realize overall efficiency is one among the key objectives of implementing the Value Added Tax (VAT) within the UAE. While many business owners may feel hiring professional VAT services might be an upscale affair with none benefit, it's actually not so. This is the rationale why VAT return filing is important and it's equally important to rent a VAT consultancy.

Merits of Hiring a Tax Consultant

A tax consultant is an industry professional who has enough and thorough knowledge of VAT.  Here are a number of reasons why you need the services of a VAT consultancy.

1. Real-time assistance to the updates in the law

Since Value Added Tax is a new addition to the taxes and has been made mandatory by the government of the United Arab Emirates. On hiring a vat consultant, helps you to be more informed on the decision making and vat filings.

2. Enhance reliability

As the VAT is complex and isn't clear to everyone. A consultant provides an understanding of the law to the business and files the VAT returns in a simplified and error-free manner.

3. Expertise guidance for the longer term

In order to file VAT returns, the management of a business must prepare many reports and other essential documents of the company. A more in-depth analysis of those businesses will allow corporate management to know the trend of the industry and act consistently with it.

Criteria for Choosing VAT Return Filing Consultant in UAE

1. Certifications and accreditations of the firms

Checking the certifications of the consultancy and the expertise in the business fields are the necessary part of the analysis. The professional qualifications of the team and their level of expertise in handling complex business transactions. The accreditations with quality standards are mandatory.

2. Goodwill of the business

Determine the reputation of the business through market analysis and clientele network.  The reviews are excellent thanks to gauging the reputation of the consultancy and by monitoring them the market position can be ascertained.

3. Experience in the industry

The experience of the consultancy will help us to know how good the services are going to be provided by them. Also, if the consultancy has experience in varied industries and sectors, the consultancy is going to be ready to provide a far better and detailed service as they're going to take into consideration the impact of any decision that the management makes.

4. Easy accessibility

One should choose a consultancy firm close to your area for quick response and security of the significant financial statements dealt with. If the firm is far from you then travel expenses are to be considered.

5. Communication to the clientele

It is imperative for a consultancy to possess excellent communication with its clients. The clients of the consultancy should be ready to reach it in the least time because the business should gather all the relevant information of the business and analyze them for creating the longer term. 

6. Price range

If the fees charged by the consultancy are too high then albeit the services are excellent, a business won't like better to avail them. The fees charged depends on one the scope of work and skill level required.

CDA in VAT Return Filing

The CDA team includes experienced chartered accountants as their tax advisers who have relevant industry-specific experience in taxation complying with UAE Laws to meet their VAT filing requirements. We are committed to providing the best VAT consultancy Services in Dubai to the clients in compliance with the rules and regulations of the FTA. By availing CDA VAT consultancy services, you are getting access to the best possible means to fix the VAT structure that facilitates the entire VAT processes including VAT registration, VAT record keeping and maintenance, VAT return filing, VAT accounting, VAT deregistration and everything related to the Value-added tax in UAE. 

Also read, Guideline to VAT Recovery on Expenses in Dubai

CDA offers a wide range of services that include CFO Services, Auditing Services, Accounting Services, Bookkeeping Services, Accounting Software Services, Payroll Services, VAT Return Filing & VAT Consultancy services. If you have any queries regarding your firm’s VAT related issues or about your current business, feel good to contact us. CDA is there for your assistance! Our expert will give you one-hour Free Consultation to keep your uncertainties away!