Why Hire a Tax Consultant in Dubai

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The term Tax is new to all businessmen in the UAE, as it was a tax-free country till 2018. It was in 2018, UAE introduced VAT tax in UAE. As it is new to the country, taxation is found very difficult to many as they haven’t deal with taxation in UAE before. The clauses, subsections, protocols are not easily understandable by everyone and as it is mandatory, you cannot neglect it, it is the Tax Consultants in Dubai who can help you deal with the taxation without any fault.

All the hassles of taxation can be resolved if you hire a tax consultant. Let’s see in detail how a a tax agent/ consultant can help you with taxation. 

Who are Tax Consultants/ agents in Dubai?

Any professional with adequate knowledge in tax and tax filing experience can assist and guide a company in doing their taxation. But in UAE, FTA(Federal Tax Authority) have set certain criteria’s for Auditing Companies in Dubai and individuals to act as tax agents in UAE. Is it the responsibility of FTA to ensure that qualified tax agents are assigned to do taxation works for businesses of their country.

Some of the criteria’s set by FTA are:

  • Fluency in Arabic and English
  • Should not have any criminal or misconduct record
  • Should have bachelor’s or Master’s degree from an accredited university in tax, Accounting Services in Dubai or law
  • Minimum 3 years of experience in tax, accounting or law
  • FTA examination with a pass grade
  • Health fitness certificate 

Why you should hire a tax consultant?

Tax agents can help you in taxation in many ways, let’s see how:

  1. Tax agents/ consultants can help you stay true to the UAE tax law regimes. Also a tax agent can act as an intermediary between company and FTA.
  2. Tax consultants can help the companies at the time of registration so that they can ensure they have met all the criteria required for registering.
  3. Tax consultants can help in doing accurate, timely VAT returns.
  4. Tax consultants do VAT assessments for their companies and prepare for all the processes required for tax submission and they will do necessary changes to the workflow to ensure timely submission of taxation.
  5. There are a lot of tax benefits offered by the government for their tax payers. This is to encourage the taxpayers to do the same. It will very beneficial if you can use the tax benefits in a proper way, and it can be done only if you know about those benefits. The Auditors in Dubai will be much aware of these benefits and their client businesses to apply for it on time and you have a good amount of return for your tax.
  6. We know that tax is a new term to everyone in UAE, the laws, the protocols of it are not known to everyone even the businessmen. There are a lot of pros and cons in taxation, and only a good tax consultant will be aware of it, it is the responsibility of the tax consultant to educate the clients the laws of taxation. 
  7. A company can run in peace only if the taxation is done on time. These tax consultants have full knowledge about the laws and regulations and they will do everything necessary on time to avoid penalties.
  8. If you have several sources of income like company profit, rents, sale of property etc. then its better to take advice from tax consultants for planning correctly and you can protect your assets. 
  9. UAE is a country with strict laws, then don’t accept any errors or delays especially when it comes to tax. So its always better to hire a tax consultant to do your company’s tax filing works which saves you money and time and of course you can be stress-free. 

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