Who are Regulated Tax Agents are and Why You Need Them

Regulated tax agents are government certified agents to provide assistance and tax-related services. In the United Arab Emirates, the services of regulated tax agents include VAT registration, VAT returns filing, VAT accounting, and VAT cancellation among others. When dealing with complex taxation legislation, it is best to seek out their expertise.

If your business is straightforward with no major transactions occurring, it has no need for the expertise of a regulated tax agent. However, new legislation and reforms are coming up in the United Arab Emirates and it has become mandatory for most businesses to register for VAT. If you are running one of them, then you are going to need a professional to provide assistance in the vat uae registration process and for filing tax returns among others. This is the reason why most business owners in UAE are panicking so as to ensure they stay compliant with the regulations in the region. 

Total compliance with the law and the implementation of VAT to a business are two tasks that aren’t supposed to be difficult. This is because regulated tax agents can be hired in getting rid of the heavy responsibility.

Why Hire Regulated Tax Agents in Dubai? 

Whether you have a business that’s already been established or you’re planning on setting up a new company in UAE, you most definitely require accountants to help you in managing accounts and advising you on major financial decisions. This is important for when living in first world countries, but more so in the United Arab Emirates. You certainly can’t ignore the assistance of a vat expert in getting your books right, most especially when it comes to the newly implemented Value Added Tax. Here are some of the reasons why it is best to hire a regulated tax agent in Dubai:

  • Proper implementation of VAT – a business that is not VAT-registered can’t charge the existing tax rate on sales of goods or services and isn’t entitled for VAT remittance on products. A regulated tax agent won’t just ensure you have registered for VAT accordingly while helping ensure that your specific business model has VAT designed to match your unique business needs. 
  • Time and energy savings – when it comes to filing tax returns, it will take hours that will only be spent on digging up invoices, checking and compiling records even before the filing process has started. This isn’t only a huge drain in time and energy, but it is also risky as you are likely to miss a couple of aspects that may need more attention. With a regulated tax agent in Dubai doing the work for you, you won’t just correctly file VAT returns with the Federal Tax Authority, but you will also be able to enjoy more time you can use in engaging with clients and addressing the needs of your business for it to grow. 
  • Expert assistance – a regulated tax agent that is reputable has years of experience working in the industry of taxation. This means when filing tax or carrying out all other processes that are crucial in being compliant with UAE taxation laws, your business will do everything correctly. You won’t miss any figure and even help you gain the best claims. 

 How Regulated Tax Agents in Dubai Can You?

The primary objective of regulated tax agents in Dubai is gearing up businesses in facing challenging and opportunities in relation to the UAE VAT implementation. The professionals provide a range of VAT services to clients including the following:

  • VAT accounting – a regulated tax agent generally prepares the financial statements of businesses and perform audits to prepare for VAT return filing. It is essential for a business that is VAT-registered to have professionals running accounting and bookkeeping, so as to ensure accuracy in books of accounts.
  • Filing of VAT returns – VAT returns provide information regarding input tax recoverable as well as output tax due. They need to be presented to the FTA by VAT registered businesses at regular intervals. A regulated tax agent in UAE will not just educate a business regarding all crucial information including the difference between input and output tax, but also ensure returns are filed correctly and on time. Take note: failure to provide VAT returns within the FTA-set deadline results in fines and penalties for a business. Allow a business to make VAT return filing hassle-free for you.
  • VAT registration – a regulated tax agent in Dubai is experienced in handling the registration process of a business for VAT. In addition, the expert can also review important documents thoroughly, including existing contracts, to ensure every single one of them is in line with rules and regulations pertaining to VAT. 

Since the introduction of VAT in UAE, SMEs and corporations faced a number of challenges. Fortunately, there are several professionals that are able to provide assistance not just for compliance but also reduce the risk in committing transgressions with the authorities. 

If you are searching for regulated tax agents in Dubai that offer a wide range of top-notch, effective VAT services, get in touch today with our team. Initial consultations are free, so call now!