Why Should You Choose to Have a VAT Consultant in Dubai?

 Have you ever tried to maintain books of accounts such as purchases, spending, and payments on your own? If you have, then you would know how difficult it is to manage these things. With tax rates updated from time to time by the government, it is sometimes difficult to keep yourself updated with all the rules and regulations. Especially, when you are working as core management.

A VAT return can be a huge problem for every business and if there is a mess, the business owner may likely face huge penalties. Apparently, hiring a VAT consultant in Dubai is the best solution to get rid of the Tax & vat challenges.

Value Added Tax (VAT in UAE)

The VAT stands for Value Added Tax. The concept of VAT is new for UAE Entrepreneurs and Small Business owners and was introduced to the country on 1st January 2018. It is a form of tax that is a new source of income for the government which can be utilized to provide high-quality public service. The standard rate of VAT is 5% and is applicable only to the residents living in that country. However, tourists have the right to claim a VAT refund by 85% when they leave out of the country.

Importance of VAT in UAE

Implementing VAT in your business will help you to boost your businesses’ profile. If you have plans to start up a Business on a small or large scale in Dubai, you need to register your business under the VAT laws. Aftermarket research Still Difficult to Understand Dubai’s market and VAT laws. So here are a number of reasons why you should hire the best and the most reliable VAT consultants in Dubai. Even the VAT registration in Dubai is not easy to understand, without professional help.

Reason to Hire VAT Consultant in Dubai

Better Knowledge & Experienced Team

Professional & Experienced VAT consultants in Dubai have Better knowledge related to the taxation circle. When you hire a vat consultant in Dubai, they visit your workplace to have a better understanding of your business model. They will provide you Financial health report which can be beneficial to estimate your financial position and helps to make decisions for your company. Professional VAT consultants put extra effort to ensure that the VAT filed is correct. An experienced VAT consultant is capable of avoiding all common, minor & major mistakes made during the VAT return in UAE.

 Time-Saving & Reduce Risks:

Another important reason for hiring a professional VAT consultant services in Dubai is reducing the time for analysis and assessments. Experts of VAT consultant in Dubai have great experience of dealing with every possible risk related to VAT and advise the best option available for a company.

Maintain Records related to VAT Compliance

VAT Experts has a duty to maintain all the records of Clients’ detail with safely, They are obligate to maintain data safety .they minimize the risk of data getting tampered with and take care of full measures to secure all documents of clients. They also ensure that documents are cross-checked with all the confidential documents as per the provision of UAE laws.

Maximizing Your Profitability

Every business has its own main and Prime goal is to make Profits. So it is mandatory that Tax planning should be part of your Company Business’s Strategy. A Tax consultant helps you to make Tax planning and Strategy. They will help you to make a financial health report which can be beneficial to estimate your financial position.

Responsibilities of VAT Consultant in Dubai include:

• Maintain Accounting and Bookkeeping process
• Accomplish the VAT filing process
• Ensure compliance with UAE Government Rules
• Maintain Records of VAT Compliance

VAT Consultant in Dubai

The Companies registered Under the UAE VAT Laws is facing some challenges while implementing VAT in their business stream to ensure that they are VAT compliant. And since VAT is a newly Imposed charge, To fulfill VAT Compliance, required experienced and qualified Tax professionals like PARSH to support the businesses with the necessary expertise and knowledge regarding VAT & Tax laws.