In 2018, the United Arab Emirates applied Value Added Tax (VAT) to calculate and impose tax on the sale of certain goods and services, such as food items, healthcare, education, professional services, etc. However, understanding the VAT system and its procedures can be challenging for businesses, especially if they are unfamiliar with the laws and regulations related to VAT in the UAE. Hence, enterprises dealing with such tax-related issues seek VAT consultants in Dubai to get the best professional services and ensure compliance with the latest fiscal laws and procedures.
Importance of VAT Consultants in Dubai, UAE
Navigating the VAT system can be both time-consuming and challenging, especially for those unfamiliar with the specific regulations of the UAE. The enlisted points explain how VAT consultants can be instrumental in the success of a business –
- Understanding VAT Regulations: VAT consultants possess in-depth knowledge of UAE’s VAT laws that help businesses stay updated with any changes or clarifications issued by the FTA.
- Streamlined VAT Compliance: From VAT registration to record-keeping, VAT consultants, VAT consultants take care of the entire VAT compliance process, thus ensuring adherence to all VAT requirements and minimizing of risk of penalties and audits.
- Strategic tax planning: A skilled VAT consultant develops a customized tax plan for businesses that improves their overall VAT position. For example, maximize input tax deductions, minimize VAT payable, and explore available exemptions and refunds.
- Improved cash flow management: VAT consultants assist businesses in calculating and forecasting their VAT liabilities accurately, thereby facilitating effective cash flow management. Through this approach, companies can avoid unexpected tax payments that could disrupt their operations.
- Expert guidance: VAT consultants provide expert advice on intricate and ever-changing VAT laws, thus ensuring that businesses stay compliant and avoid costly penalties.
- Audit support: During VAT audits, tax consultants provide extensive support to businesses by representing them before the FTA and facilitating smooth communication between the company and the authorities.
Duties and Responsibilities of VAT consultants in Dubai
VAT consultants in UAE are not only experienced but also professional. They offer tailored services according to the unique financial needs of businesses. Here are some of the top VAT services offered by UAE VAT consultants:
Tax agent services – VAT consultants help businesses stay updated on UAE’s VAT regulations to avoid getting penalties. They ensure timely VAT reporting and claim of VAT refunds, thus simplifying the finances of businesses.
VAT registration – Tax consultants assist eligible companies with the complete VAT registration process as per the laws of the FTA. They make sure that all the submitted accounts and documents are accurate and forms are correctly filled.
VAT compliance – VAT consultants in Dubai offer affordable and trusted VAT compliance services to companies while keeping them updated on all VAT laws. They guide the company through the VAT laws and their impact on business operations, thereby preventing them from any non-compliance issues.
VAT return filing assistance – The certified and experienced tax agents in the UAE go through the company finances and provide customized solutions based on their findings. They help companies submit their VAT returns on time, thus saving them from hefty consequences.
VAT deregistration – Tax consultants in the UAE assist companies in applying for TRN (Tax Registration Number) cancellation to discontinue the VAT registration process. They educate the client about various reasons why VAT registration can be canceled in the UAE.
VAT filing and processing – VAT specialists also assist with the VAT return filing process by arranging the key requirements on behalf of the company.
Training and support – VAT service providers in the UAE train business staff on VAT procedures and keep them updated on VAT laws and regulatory changes.
Leading VAT consultants in UAE
We have curated a list of the best VAT consultants in Dubai who are well-known for offering valuable expertise and comprehensive services to help businesses thrive:-
Shuraa Tax Accounting & Auditing
- A one-stop solution to securing business finances in the UAE
- Have a team of FTA-approved tax agents with several years of experience in UAE Taxation
- Offers reliable solutions for all kinds of financial needs, including VAT Registration and Consultancy, bookkeeping, Accounting, and more across Dubai, Sharjah, and Abu Dhabi
- Addresses VAT concerns efficiently and ensure timely and practical assistance
Emirates Chartered Accountants Group
- A certified International Chartered Accountant, established in 2005
- Served more than 1000 MNCs and SMEs in countries like UAE, Bahrain, UK, and India in the last 15 years
- Hails as one of the top-listed Financial Auditors in the UAE for its rich service culture, including VAT registration & deregistration, VAT return filing, VAT training, and more
Saif Chartered Accountants (SCA)
- Equipped with a team of professional chartered accountants providing the best VAT consultancy in the UAE
- Caters to a wide range of clients from diversified industries
RVG Accounting and Bookkeeping LLC
- Has a team of tax experts, auditors, chartered accountants, business advisors, and bookkeepers that specialize in accounting services, VAT services, financial auditing, tax advisory, and PRO services
- Manage all kinds of businesses, including big enterprises operating abroad and small startups established in the UAE
- Possess a unique way of handling tax-related work which makes them stand out from others
JAXA Auditors
- A certified firm with experienced CAs, auditors, and specialized service team
- Tailored services based on the unique needs of clients
- Key services include VAT consultancy, VAT accounting, VAT implementation, VAT registration and return, etc.
MAC & ROSS
- Consists of highly qualified and experienced professionals providing the best VAT services including VAT audits, VAT health checks, VAT refunds, etc.
- Provides affordable and efficient professional services to businesses, helping them achieve optimum results
- Aims to attain the highest expectations of clients
- Help businesses focus on core activities and fulfill their objectives by providing professional VAT services
Jitendra Chartered Accountants
- An advanced medium-sized audit and accounting firm
- Armed with the best-experienced CAs in the UAE
- Help businesses achieve their business goals with efficiency and profitability
- Review VAT records, returns, and reconciliation of businesses and represent them before the FTA
Skylines Tax Consultancy
- Accommodates several professional and experienced chartered accountants
- Assures optimum quality of financial reporting and VAT compliance
- Enhances operational efficiencies of clients, thereby saving costs
- Deliver services according to the agreed specifications of the client
- Offer additional financial services other than VAT, such as periodic data handling and management, analysis of the company’s financial history, assessment of financial documents, etc.
Dawn Consultancy
- One of the best VAT consultants in Dubai providing the best guidance to clients
- Aim to improve clients’ operations and relationships through their expert services, such as providing detailed VAT assessment, and recommending updates in the accounting system, invoice structure, and other related documents.
- Educate companies on the applicable VAT rates and advise on their impact on ongoing projects
CDA Audit
- A dedicated accounting firm, providing reliable and trustworthy financial services to varied companies
- Offer services based on specific client requirements
Youssry & Co. Auditing & Consultancy
- Offers services to private companies as well as high net-worth individuals
- Have dedicated audit and VAT advisory specialists who are experts in their field
- Maintain consistent communication with clients and ensure maximum satisfaction through their services
Get in touch with Shuraa Tax!
Avail the top-notch services from the professionals at Shuraa Tax Accounting & Auditing. Take control of your business without worrying about your financial health.
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