How to choose the right VAT consultants in Dubai?

When a taxpayer is looking for VAT agents, he must choose the right agent. There are a few parameters which must be checked before hiring. A taxpayer must hire only a reputed and registered tax agent to fulfill his purpose.

The introduction of VAT has created numerous job opportunities for VAT consultants in Dubai. The employment rate in the taxation sector has gone up by almost 40%. This proves that business establishments, as well as taxpayers are looking forward to hiring people who have expertise in the field.

Many VAT consultants in Dubai work on a freelance basis and can be hired easily. There are numerous consultancy services that house these experts. Taxpayers and business establishments can get in touch with the service providers to hire the consultants.

However, before hiring tax agent in Dubai, it is essential to identify the right person who can handle all taxation work. This is because VAT must be correctly implemented in the accounts and all calculations must be accurate. A single mistake can lead the taxpayer or the company to numerous consequences, one of which is paying a heavy fine.

Therefore, the question that arises now is how to choose the right VAT consultant who will be able to handle all the tasks properly.

As said, a person could either hire an agent who works on his own or recruit through a consultancy. In both the cases, there are some essential parameters that the taxpayer must check.

Registered tax agents

Tax agents, whether working for a consultancy firm or as a freelancer, must always be a registered agent. This means that he should have his name in the register of the FTA or Federal Tax Authority, authorized by the government to work as an agent. A taxpayer must check and verify his registration before hiring.

Reputed agents only

The consultancy or the freelancer must hold a good reputation among the clients. Taxpayers can check with the clients of the consultancy. A good reputation has numerous aspects, some of which are listed below.

• Knowledgeable: The agent must have a background in finance, especially in accounts and taxation. He should know the rules of VAT and taxes that are applicable in the UAE. He should also know the changes in the VAT laws that vary within the Emirates.

• The variations in rules: In Dubai, one can form different kinds of companies. Though VAT is applicable at a flat rate of 5%, there are different variations in several sectors. The consultant must know about these variations to keep proper records of taxation.

• Flexible: The tax agent or the consultancy must be flexible with the mode of work. They must be open to respond immediately to any emergencies or solve the client’s queries. Besides being available during the normal working hours, they must be available at late hours if and when required.

• Able to handle pressure: VAT return filing is done in an interval of three months. At this time, there is extreme pressure. VAT agents must be able to handle this pressure and work with numerous clients at the same time.

Besides these two important parameters, a taxpayer must ask about the tasks that they will be handling. A VAT or tax agent must take all the responsibilities regarding VAT implementation. They must handle the returns files, explain the technicalities of VAT, give the best suggestions, etc.

Thus, judging by these points, a taxpayer can properly choose the right agent to take care of the tax records of his company.