What are the factors to be considered when choosing VAT Agency in UAE? 

Choosing the right VAT consultant might be the first step forward toward a successful VAT registration in the UAE.

Initiating a screening process to weed out the best consultants out there is a critical first step. With the new Government regulations in place, recent years have forged the mushrooming overgrowth of VAT consultants in Dubai and the rest of the UAE. Which makes it imperative to choose the right audit partner.

For making a quick choice, here’s a summary of how to choose the perfect tax consultant guidebook-  

The major elements  

1. Qualification, license and industry experience 

It’s step one, before investing your trust and time. It’s advisable to research your consultant’s qualifications, education history, background, and client testimonials.

A pro tip would be to choose a tax consultancy firm in Dubai that’s been in business for at least 3 years. This step ensures reliability, authenticity, and stability, and is well your money. 

2. Look for an audit firm partner versus random service sellers 

A partner firm knows your needs and adapts to you. They custom manage assignments creating mutual relationships based on value, and trust, and building upon a strong client understanding.

A service seller is a random fluke tax filing consultant that might not deliver sustainable accounting or bookkeeping services compromising accuracy, efficiency, and completeness of service. With an added risk of exposure leaving returns at stake for the business.   

3. Service range and scope 

Most VAT consultancy firms in the UAE offer alluring multi-service packages. However, it’s highly recommended to choose a tax consulting firm that’s offering a complete VAT solution that includes VAT registration, VAT implementation, and filing VAT return submissions also while offering a client-beneficial VAT refund consultation. A one-stop destination for all VAT needs.  

4. VAT accounting + Bookkeeping and General accounting services  

Choose a tax consultant wisely. They must be aware of basic and advanced level accounting skills including VAT in order to understand taxation policy-related changes.

They must guide your finance team on how to process, implement and understand taxation related changes in the business. 

5. Professionalism

A professional consultant makes a world of difference in keeping your tax records straight and up to date. 

6. Organization 

A resourceful organization with timely response action, approachability, and availability makes them reliable and earns a client’s trust. 

7. Business impact analysis  

 Choosing a qualified tax consultation in Dubai will make them responsible for conducting a business impact analysis with due diligence – which forms an integral part of a consultant firm’s core expertise.

Skilled VAT consultants extend additional support by analyzing the business impact VAT taxation will have on all aspects of the business. Including a company’s litigation expenses, cash flows, and operations.

The impact assessment would cover calculations of company processes, human resource capital, new cost estimations, changes in accounting systems, and compliance. 

8. Diligence and accuracy   

On-time delivery of services and accuracy is a key factors when it comes to financial value-related propositions like auditing and bookkeeping.  

Choosing the perfect VAT consultant firm in Dubai can help companies look forward to a host of advantages assisting them to incessantly achieve their business objectives and growth. Staying within the updated tax rules and regulations of the GCC (Gulf Cooperation Council).  

Look forward to Financial Cube – Guiding VAT registration in the UAE.  

Financial Cube is a modern and cohesive finance based network offering reliable financial and taxation solutions, based in the UAE. With services offered as private tax advisors, filing taxations and IT returns, auditing, accounting and bookkeeping services. Backed with years of experience and skilled technical field expertise.

Financial Cube is your one-stop financial and tax solutions service provider in the UAE offering high level VAT implementation and tax agent services for all your business and accounting needs in the Gulf region.