Daily we come across abundance of tax firms here in Dubai. Not only are more people now concerned about the way in which they regulate their tax payable but more of us are now keen on ensuring that we reduce the amount to be paid as much as possible within a regulated and legal scope. However most of us, struggle to manage these numbers by ourselves, as we bear no knowledge on taxation law or state regulations, and have to therefore resort to hiring a tax adviser.
Is this a good idea?
While many of us fear, handing out our most confidential documents out to a person who, even though is a registered consultant, we have to always be cautious when we pick out a company or freelance tax consultancy in Dubai to manage and regulate our VAT Liability.
Not only is having taxes managed quite essential, it is a lot easier to let a professional handle your accounts, than you going through them, as they are already aware of present laws and have a lot of experience balancing accounts and analyzing your records. You should look to hire a consultancy that will not just advice you on your taxes but a company that will guide you throughout the year and then go on to keep records and provide VAT services.
Make sure you check the records of the person you’re about to hire or the company, and their website to gain knowledge on their past dealings so that you know you’re in good hands. It would be rather valuable for you to read up on client feedback which is available on the site, so that you know whether this firm will give you a prompt and promising service.
The ideal firm will begin by seeing as to if your company exceeds the mandatory registration threshold of AED 375,000 and register on your behalf, or guide you through the registration process, if you already haven’t. The firm should also be easily accessible for you at any time so that you could conveniently clear up any questions you have.
The right company also bears the duty of filing your documents in order, and addressing any TAX issue directly with the Federal Tax Authority on your behalf, and to solve the issue without letting it get worse.
The main task that rests with the firm is to help you in reducing the amount that you have to pay as taxes, thereby helping you save money and maximize your profits. This is especially useful if you’re going through a tough time, financially or if you’re business is still quite small scale and the tax you need to pay is not a value you could afford.
So why not invest in a consultant and save your time for other business matters?