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Helping businesses to achieve overall efficiency is one of the key objectives of implementing the Value Added Tax (VAT) in the UAE. An indirect tax levied on supply of goods and services, VAT also helps the government attain a stable economy and increase its revenues. Several VAT consultants across the country work towards enabling businesses to achieve compliance & efficiency through their specialised VAT Services. While many business owners may feel hiring professional VAT Services could be an expensive affair without any benefit, but it is actually not so.
Alankit Management Consultancy, a subsidiary of Alankit Group, is a recognised VAT consultant in Dubai catering to start-ups and established companies of all sizes across the UAE. A plethora of advantages, as listed below, awaits business owners by hiring the best VAT Services in Dubai by Alankit in the UAE.
Facilitate easy VAT registrations
VAT registration is mandatory for businesses if the value of their taxable supplies has exceeded AED 375,000 over the previous 12-month period or is estimated to exceed that threshold in the next 30 days. Voluntary registration is possible if supplies exceed AED 187,500. VAT Services providers are the right consultants to tell whether or not a particular company should get itself registered for VAT. Furthermore, they would offer guidance for the online registration process (which varies depending on type & revenue for businesses), procedural formalities, turnover quantum, documents required, etc.
Provide knowledge & expertise
VAT Services providers are always equipped with the right information about the latest developments in the industry. For instance, the rates of indirect taxes change frequently. Moreover, consultants possess sound knowledge about VAT laws and thus would be in a better position to provide the right guidance for any enterprise. Thus, it would help business owners avoid common mistakes that could invite penalty.
Help save time & efforts
In addition to offering services for VAT registration, computation, refund consultancy, bookkeeping, auditing, corporate finance, etc., VAT Services providers also assist in timely return filing. Companies will thus find it easy to file their returns as well as make all necessary payments to manage their indirect taxes, in a timely manner. Moreover, consultancy services help minimise the time required for analysis, assessments & measurement of risks related to company’s revenues and payment of taxes.
Offer best advisory services
Competent & experienced consultants offering best VAT Services are adept in guiding business owners in predicting the impact VAT has on their businesses, be it negative or positive. Expert consultants have the proficiency in adopting a strategy to help minimise the negative effects. Moreover, this helps in making sound business decisions, achieve projected goals and even let companies focus on expanding their businesses globally without any worry about tax issues.
Support decisions on legal & business structure
The best consultancy for VAT Services has professionals who assess the requirements of a company’s business structure and plan VAT implementation based on the financial strengths & weaknesses of the company. Companies can adopt various structures based on the business type & goals. Experienced consultants also help a business adopt the most suitable structure for maximum benefits & enhanced revenue.
As the best VAT Services provider in the UAE, Alankit ensures data confidentiality of its clients and offers timely assistance through qualified chartered accountants with international tax experience. It offers a range of VAT related consulting services entailing CFO Services, VAT registration, VAT return filling, VAT consultancy, VAT impact studies, VAT accounting, VAT training and IT migration for VAT compliance.