VAT has been introduced in UAE and thus mostly every company is required to file a VAT return in Dubai. The main reason for the introduction of this tax is used to boost the revenue of the economy. Thus VAT filling has become essential for most of the businesses operating in Dubai but not everyone has the required skills and knowledge essential to understanding the process of VAT.
VAT involves various procedures and formalities that are required to be taken care of by the individual as any mistake in this regard can cost huge consequences to the business in the form of fines and penalties. Also, the process of VAT filling is a time-consuming and cumbersome process that takes away business focus from its core activities. It is thereby recommended to avail the services of the VAT consultants for filling returns and also fulfilling various formalities and documentation. They are experts who with their knowledge will guide the business in the right direction. It is important for the business to keep track of all the latest information otherwise it might result in various risks. But one can be stress-free all thanks to VAT consultants as they have all the latest news about any new provisions added or changed in VAT.
The business can enjoy all these benefits only when they make the right choice in selecting the VAT consultants. Every consultant claims to provide valuable service which makes it overwhelming for the business to choose the right one. However with the help of the following tips, one can easily make an informed decision. These include:
- Reputation: Reputation of the VAT consultants in the market says a lot about their work. It is therefore one must select the consultants that have to make a name for them in this field. To know about the reputation one must see their performance among their competitors. Also, go through the client’s review and see whether they deliver what they promise or not. This will help in forming a strong base to make an informed decision.
- Licensed: It is very important before selecting the VAT consultant in Dubai to see whether they are licensed or not. The not only license will prove that they have expertise and knowledge about every aspect of the VAT but also it is a legal requirement in Dubai. Getting your VAT returns filled by the unlicensed consultant will bring no result as those consultants are considered illegal in Dubai.
- Professionalism: Managing VAT returns and other important taxation formalities is not an easy task. There is a need for a high degree of professionalism to deal with such issues. Without proper and sophisticated practices no work can be performed effectively and efficiently. Therefore one must check all the qualifications and other accolades to ensure that they have a proper understanding as any error made by them can make the business suffer huge consequences.
Hence these are major tips that can help the business to choose the right VAT consultants. All thanks to Value added tax consultant in Dubai, VAT filling is no more a daunting experience.