Are you currently struggling with VAT return filing’s nature which is one that’s both complex and confusing? Do you find it incredibly hard in calculating accurately output and input VAT as well as making regular submissions to the Federal Tax Authority? Do you want to have experts assisting you in the process of VAT returns filing in UAE? If so, then you have certainly come to the right place as we will provide you with a complete guide on what you should know regarding VAT returns filing outsourcing.
How VAT Specialists Can Help?
Value Added Tax, as you may already know, is a kind of tax which is levied to an exchange, and it’s applicable to activities that are related to the provision of goods or services or their production. As for VAT returns filing, it is mandatory for a VAT-registered business in the UAE. The process involves the payment that is due to authorities or to claim refunds if the business is entitled so.
With regulated tax agents in UAE, you will have experts taking care of your needs and obligations related to VAT returns filing. VAT is, as you may know very well, is tedious. In addition, it’s a crucial job for a business to handle properly. This is the main reason why companies in the country choose to outsource VAT returns filing. If your organization would be able to benefit greatly from the help of regulated tax agents in UAE, then seek out the help of experts.
Also Read: Requirement For VAT Return Filing In UAE
VAT Return Filing Process in UAE
The process of tax regulated agents in UAE for the completion of VAT returns filing involves several steps, including the following:
- VAT records sent to experts – all VAT invoices and relevant documents are to be sent to experts for processing
- Processing – receipts, sales documents, purchases, and payments will be processed for an entire VAT period
- Accounting for charges – regulated tax agents in UAE which are best to hire are ones that are proficient in both cash and standard accounting. This is to make sure the professionals are able to employ either of the two according to your specific requirements
- Preparation of VAT returns – this is where VAT returns for a specific scheme are prepared by specialists
- Delivery of final reports – the updated information that is derived by experts will be sent to the business and tax authorities in the UAE in the formats that are requested. Take note: specialists may also update information directly on financial software a business utilizes, if required.
Reasons to Outsource VAT Return Filing in UAE
If you choose a reliable VAT specialist, then you will be able to benefit from the following:
- Affordable and reasonable pricing – outsourcing VAT returns filing to reputable experts will increase the likelihood of the business to save when it comes to cost associated with the process
- Utilization of the latest software – a proficient financial expert with the expertise that you need will most likely use advanced software. The expert may also provide you with a customized solution basing on the software that your organization has adapted in order to make sure that the process of VAT returns filing is as seamless and smooth as possible for the business
- Data security – a reputable regulated tax agent in UAE will be committed in protecting sensitive data of an organization. The expert will secure data at whatever cost as it is his or her reputation that is on the line. Also, tax agents in UAE adhere to international practices when handling the data of their customers. If possible, opt for the firm or professional that is ISO-certified. that will mean you will have peace of mind from knowing that you are assisted by an expert.
- Quick processing – a specialist already knows what to do and what is needed in order for the task to be completed successfully. As a result, you will be able to see a quick turnaround time and the assurance that you will file your VAT returns within the specified deadline by the Federal Tax Authority. Opt for the services of a professional as he or she will adhere to deadlines and make sure that your business is able to save time effectively
- Experienced team – as mentioned earlier, VAT returns filing in UAE is an incredibly tedious task. It requires both skilled manpower and expertise. With a reputable service provider, you will have a team of seasoned professionals that will bring high quality services as well as the best experience in VAT returns filing. You will be able to save on cost, money, time, and, of course, effort.
Should you finally decide to rid your business with the arduous task of VAT returns filing, reach out to our team of experienced regulated tax agents in UAE. If required, our experts can also serve as your representative before authorities.