Things to Consider When Hiring an Accountant in Dubai for Your Company

It is very important for any business owner or general entrepreneur to have a reliable and honest accountant on their side working for their company’s best interests and making sure that you see the fiscal limits and overall potential on a very regular basis. If you have business in Dubai then it is a must to do vat filing dubai. The registration can be done online by filling VAT registration form UAE and

 

The kind of advice is vital to the success of any business or company and understanding what the market limitations are and you can find some ways around certain problems is just a small part of what accountants offer to the business.

 

There is no doubt that it takes a lot of time and an overall commitment when you hire an accountant. So it’s very important to make sure that you are teaming up with the accountant that is best for your company or business. If you are looking for VAT consultants in Dubai then here we are. You can do VAT registration online and also can VAT return filing online easily.

 

We are very lucky to have teamed up with a certified public accountant in Dubai to collaborate with us on this list of the 4 things you should consider before hiring an accountant for your company or business.

 

And by looking through this list you will be much more prepared to make the right hiring decision for the accountant.

 

1 - Experience is the Key

Experience plays a very important role in any field. The very best accountants are going to be able to prove you that they have a great experience in the field they helped companies in your field and are a special expert in the field of accounting.

 

Making sure your accountant is an experienced person in your field is an important key but they at the very least should have experience with the similar companies.

 

It is probably best not to hire such a general accountant becauseyou will want someone who knows the operational requirements of your company.

 

2 - Service Levels

All accountants are going to be different in terms of the service they provide to their clients. So you should always know beforehand while you are hiring them for your company. You could need bookkeeping services and in that case you could require full service accountants.

 

If you are in need of more precise and specific tasks you can find more specialized accountants to support you and your company.

 

3 - Understanding the Goals

This is one of the biggest things to consider when you are higing an accountant for your business or company. When hiring an accountant you should hire someone who understands where you are trying to go with your business and the overall ambitions you have as a business/ company owner.

 

Your accountant should know what you are trying to bring to the table and why you need their help, and how you can complete the goals of the company in terms of financial performance for years to come.

 

These types of discussions will not only bring the right hiring option for you but it can also lay out the blueprint for your company to fulfil its intended potential. The way to achieve the company potential almost always will go right through the empowerment of an accountant in terms of fiscal intelligence.

 

 

VAT registration form UAE is available online you can also check the VAT return filing date in UAE online we are the best VAT consultant in DUBAI.

How to Avoid wrong tax return filing?

 

Some common mistakes while You File Income Tax Returns

The due date for filing the tax returns for individual taxpayers is 31st of July. Putting it off until the last minute and filing it in a hurry can lead the taxpayer to disclose the incorrect information which might have a negative impact on the outcoming filing of the returns.

 

Vat returns can either be filed manually or can be filed online easily. In fact e-filing of a tax return is mandatory in UAE or Dubai.

 

There are lots of companies out there which are not doing their tax return correctly and resulting in paying heavy penalties from the federal tax authority of the country.

 

In case of any wrong submission of tax return the voluntary disclosure needs to be submitted along with the correct figure. When submitting the correct figure in voluntary disclosure all calculations need to be done very carefully and our Vat return filing services is having a dedicated team of specialists in this area with one hundred percent of success records.

 

There is a fee of AED 3000 for the first time voluntary disclosure submission and in case of repetition this fee goes to AED 5000 for per submission and The VAT Consultant Dubai vat registration online company can help with this in a very professional manner.

 

Once the submission of this voluntary disclosure is done correcting the wrong submissions of the VAT tax return, the FDI(faderal tax authorities) takes upto 3 to 6 months to accept the wrong submission of the VAT tax return via voluntary disclosure.

 

In case of insufficient information which is provided to correct the wrong submission done by you of tax return via voluntary disclosure, the FDI will request some more information either calling on the registered phone number provided by you or via e-mail and The VAT Consultant Dubai can help to prepare for the wrong tax return in the form of correct tax return.

 

The VAT Consultant in UAE is one of the best and reputed VAT consultants in Dubai who provides any kind of VAT consultancy service in UAE, VAT registration in Dubai, . Since the announced introduction of VAT in January 2018, we have helped hundreds of companies and businesses which are based in UAE or Dubai by providing them with the necessary financial advice on VAT registration in UAE or on VAT return filing. VAT settlements and non submissions of tax returns due to which they are certain fixed and daily penalties imposed by the FTA.

 

Filing TAX Returns Some Common Mistakes

 

1 - Selecting the incorrect VAT registration form(VAT registration form UAE are available online to fill)

2 - Furnishing Incorrect Information

3 - Quoting the Wrong Assessment Year

4 - If Tax is deducted on the interest income it need not to be reported in ITR

5 - No need to file tax returns if tax has been deducted already

6 - Failure to reconcile TDS with VAT Form

7 - Not disclosing all the sources of Income

8 - Entering the correct details manually

9 - Form 16 from two more employers

10 - Not paying advance tax - self assessment tax

11 - Calculate the deductions that can be claimed

12 - HRA not given by the employer

13 - Failure to dispatch ITRV on time

14 - Interest on NSC is all tax free

15 - Donations are 100% exempt