Since value added tax is now practically in place in UAE, businesses are required to appear in the program. Ask yourself, are you up for it or do you need more time to think about it? Well, you will have to appear into it sooner or later. Will you just hire some random VAT agent Dubai without asking questions and checking credentials? Perhaps not, as the expert should meet certain conditions for registration at the FTA. Any person having the following traits can become a VAT consultant. One who is medically fit, possesses a good conduct and behavior, has certified qualification from a recognized university, or specialization if he is from other institution. He must have a reliable practical experience too and must hold valid professional indemnity insurance.
Representing before the FTA for Tax matters, proper monitoring of books of accounts and other records – all of these are factors that tax agents can help you out with. A tax agent would assist businessman in complying with their Tax matter well in time. A taxable person should maintain books of accounts and record for five years’ period and a Tax agent can play a prominent role in this connection and any discrepancy arise can be solved if books of accounts and record is properly maintained.
Audit is the only source which enables us to know the financial condition of a company or firm. In the present world, audits are based on latest techniques which saves a lot of time while auditing, many firms and companies are now using soft ware in their accounting procedures which limits the occurrence of errors or it is safe to say zero error and provide a safe way for an auditor to move ahead in his auditing procedure without wasting time. Audit is the only source where one can point out the performance of a certain firm or company even in years to come. Audit Firms in UAE have the services of highly qualified and highly professionals and hence are playing a very prominent role in smooth running of the business and meeting commercial commitment well in time of a firm or company. The procedure may appear complicated to those having no knowledge of it but on the contrary, it is VAT program is comprehensive and easy to implement. This existing competition between many audit firms operating in UAE is giving more vivid techniques of audit which are design from time to time by the professional of these companies or firms to enhance the auditing procedure to save time and simultaneously leaving any error which was to be highlighted.