Dubai became a global business hub in the last decade, and that’s a fact. It continues to attract entrepreneurs and companies from all around the world! Now, the emirate was a tax-free region up until 2018 when it introduced the Value Added Tax, aka VAT. That’s why, if you wanna conduct smooth operations, especially financially, you need help. So today, we’re gonna tell you why you need and where to find the best VAT consultants in Dubai!
Who Are VAT Consultants?
VAT consultants are specialists who provide a range of services related to Value Added Tax. Their work revolves around helping companies comply with VAT regulations as well as well as understanding and implementing these rules. This is all done to ensure businesses comply with FTA rules and avoid unnecessary financial and legal complications.
Why Businesses Need VAT Consultants in Dubai
- Compliance: What good are VAT consultants in Dubai if that isn’t their main goal? You see, complying with VAT laws is crucial to avoid penalties. And the right consultants will make sure that companies adhere to proper corporate tax and VAT filing procedures!
- Accuracy in VAT Filing: Compliance alone won’t do you much help if you don’t accurately calculate VAT returns. You see, errors in those can lead to fines that are really unnecessary. So, the right consultants can accurately do your calculations as well as submit these filings on time.
- VAT Registration/Deregistration: So, as we already established, Dubai introduced the VAT regulations in 2018. And there is a threshold, if crossed by companies, they must register with the FTA. Now, if these businesses fall below that threshold, they must deregister, and VAT consultants can do that for you!
- Input/Output VAT Optimization: This here is an important one, because VAT consultants in Dubai can help your business reclaim input VAT! They can actually help you find those opportunities and minimize costs.
- Conducting VAT Audits: If the FTA requires an audit, VAT consultants can help. They can do so by preparing documents and making sure that companies comply with VAT regulations.
- VAT Training for Businesses: So, if a company is big enough to hire in-house teams, they will need training. And VAT consultants offer this service and train these teams to ensure they know how to properly keep VAT records!
How to Choose the Right VAT Consultants in Dubai
So, the options are endless when it comes to finding the right VAT consultants in Dubai. Of course, there are many factors to take into consideration, like the following:
- Experience & Knowledge: The right consultants should have experience in the industry your company operates in. Moreover, they should be experts and understand UAE tax and VAT laws.
- Reviews: You cannot hire just any company without conducting a background check. So, make sure that your company has a good track record of success and good customer reviews!
- Cost: Naturally, the fees your company will pay for the consultants should be getting you services to match that value.
Noraal Can Lend a Helping Hand!
If you wanna ensure that your company in Dubai gets the care it deserves when it comes to VAT filing, you’re in the right place. Noraal can help you get through all the complex VAT requirements with expertise! Our VAT consultants in Dubai can help your SME with everything from VAT compliance to optimization. All those services will be tailored to your business needs! So, contact us today for a free consultation, and you won’t be looking back!