Reasons To Hire A Tax Consultant In The UAE
Reasons To Hire A Tax Consultant In The UAE
UAE has successfully completed the first year of the implementation of VAT. According to most sources, implementation of VAT was smooth, transparent and successful despite some initial challenges. The Federal Tax Authority (FTA) was proactive in publishing user and industry guides as a part of pre-implementation and post-implementation process/support which was a key reason for this success. Another was tax consultants and tax agents that supported companies and taxable persons in the UAE to get compliant with the VAT regime. VAT, at one year of age, is a relatively new concept for many UAE businesses. Most businesses find it difficult to navigate VAT on their own due to little or no exposure to tax in the UAE. As a taxable entity, it is crucial to ensure that the business is compliant to VAT laws and regulations. Having a tax expert on your side is imperative to avoid errors, penalties and loss of reputation.
Why Companies Require Tax Consultants/Agents In The UAE?
ASCENTIA UAE- Your Advisor
ASCENTIA UAE has been based in the UAE since 2019 and offers many services from UAE. VAT Advisory is one such service, led by a Senior Partner and Director based out of the Head office in Dubai.
The VAT advisory team is well placed to offer end to end services in the VAT domain in the UAE, all the way from VAT assessment, registration, reviews, assistance with filing and ongoing advisory to liaising with the FTA for dispute resolution and reconsideration.
The team has extensive experience of VAT in the UAE having advised several clients in a variety of ways in the VAT value chain over the last 18 months.
ASCENTIA UAE provides professional, timely and relevant advice to businesses and clients to ensure they comply with the applicable rules and regulations and optimize their VAT returns and plan their activities accordingly.
VAT Compliance can be time and energy consuming and prone to errors and lapses, leading to expensive fines and penalties. ASCENTIA UAE can assist you to ensure that your business is always on top of things related to VAT with the least risk of loss of reputation and avoiding fines and penalties.