Once you decided to have your company VAT-registered, then that is when the plan started to roll. The first thing in order is to find credible VAT consultants in Dubai to initiate the process. With the mandate of the UAE government for companies to register, you need to find one fast.
However, this might be a little harder than it looks since there are few consultancy firms that offer this kind of service. With a few on your list, how can you choose the right firm that can help you with your registration and tax dilemmas?
- Range of service
Some tax and VAT consultancy company UAE-based offer limited services, just for computation. But if you are a business looking forward to registering your company, it would be best to look for one that offers a range of tax consultancy services – from registration to computation and refund consultancy. This would prevent you from getting services of multiple suppliers to get the job done. This might lead to confusion, communication problems and delay. Remember that each company has their own systems and process that they follow and hiring more than one consultants might have conflicting processes and will just make the registration harder than it seems.
- Knowledgeable in international tax computation
This is crucial especially for businesses who are running global operations. VAT and tax rules differ on each location and there is no one-size-fits-all solution to tax problems. Your tax consultancy firm should be conversant on different tax rules and knows which one is applicable for your case. They should be able to provide accurate computation for each location where your business is running so you can estimate the taxes you need to comply on each location or branches.
- Knows accounting as well
Of course, fundamental knowledge in accounting is important. When VAT is applied to your accounting, changes are expected to implement. Your tax consultant should be able to guide your finance team on how they would be able to incorporate this on their system and show your team at least the basic computation that they can follow.
- Organized and accurate
When you are dealing with numbers, a systematized method should be followed to guarantee the accuracy of the results. The staff of you tax firm is expected to provide accurate computation (with little margin of error) so you would know how much exactly are you dealing with in terms of numbers.