As a company owner, you are supposed to prepare tax reports at the end of the accounting year. Tax can be broadly classified into income and local property tax. Unless you are a tax consultant or accountant, it is very tricky to understand every aspect of tax. Moreover, tax calculation might take up long hours and delay your other important task. Tax is a broad concept when we view it from the commercial aspect. Thus, a tax professional can serve your purpose within the given time. So, if you are looking for a tax consultant in the UAE, then get in touch with Shuraatax Consultants and Accountants.
Explore the Key Benefits of Hiring a Tax Consultant for Company
A tax consultant can be advantageous for your company in the following aspects:
Saves Time and Effort
A tax consultant is a certified professional who handles tax matters on a daily basis. You must follow several steps while calculating tax reports. Since the tax is an ever-changing concept, the procedure of tax calculation might become outdated with time.
A tax consultant can ensure transparency in the tax reports prepared by them. They know the methods and tools necessary for tax calculations. Moreover, they have been into their profession only after completing a certified course in the required field. Thus, you will hardly have chances of committing errors in the preparation of tax reports.
On the other hand, if an average person prepares this report, then he might make one or more mistakes. As a result, it will affect the quality of your tax report and the goodwill of your company. You might also have to face legal actions in the case of major mistakes. Thus, a tax consultant can be the best preventive measure against these unwanted circumstances.
Chances of Higher Returns
Tax codes keep changing from time to time and thus, it becomes difficult to understand the process of filing tax returns. Since professionals are aware of the jargon related to the tax filing process, they know every possible deduction. Thus, they will make arrangements for the deductions you can claim from the IRS. This itemized return can save you a sufficient amount of money. Shuratax Consulting will help you to ensure your claims and get the most for your business.
Keeps You Updated
The tax filing procedure that was active in the last year might become obsolete suddenly. Thus, it is very much essential to know the changes in tax laws and codes before filing tax reports. It is the work of consultants to study the changes and act accordingly. Thus, if you hire a tax consultant, then he will inform you about the prevailing laws and penalties you might have to bear in case of mishappenings.
Penalties are the negative consequences of not filing your tax report correctly or at the correct time. If you are not an expert in tax, then it would be time-consuming for you to file your tax. Thus, it might be obvious for you to file your tax after the timeframe specified by law. The cost of penalties will vary as per the size and sales turnover of your organization. Thus, it might affect your business profitability and create a bad image for your company. So, it is recommended to get your word down by a renowned tax consultant in the UAE.
The personal touch will be missing if you take the help of some advanced tax software. Moreover, such software won’t inform the minor details of filing tax and its returns. Sometimes you might reach a situation when tax filing is not straightforward. Such a situation can arise when you receive income from foreign assets. Thus, it would be better for you to seek professional help.
Effective Financial Planning
A tax consultant is an ongoing advisor who can guide you to plan your investments. His advice will be great for keeping your tax liabilities as low as possible. If it is important, then you can make hire a tax consultant for a subsequent period and ask for advice whenever required.
How Shuraatax Consultants and Accountants Can Support Your Business?
Whether you are a self-employed person or a business owner, you are supposed to pay a certain amount of tax. Thus, our Shuraatax Consulting can make the tax refilling process a little easier and perform all work on your behalf. Here is a summary of the services you can obtain from us:
Business Setup and Tax Advisory
You can’t set up business unless you possess adequate knowledge about the taxes involved and their implications. If you don’t consider the taxes, then your planning of starting a business won’t be fruitful. Thus, hire our UAE registered tax agents to make you familiar with various taxation policies.
Though you are having a business in the UAE, you might gain a desire of expanding it to a global level. Now, the number of taxes increases with the scope of doing business. Thus, you might come across various issues while dealing with international taxes. But, Suratax consultants are experienced enough to handle cross border tax difficulties. We are a Dubai based tax agency, but render our services to many other parts of the world as well.
Tax Residency Certification
A company that remains functional for more than a year can obtain a tax domicile certificate. Not only companies but also individuals holding UAE permanent resident visas or residing in the UAE for 180 days can acquire this certificate. But, you have to comply with the written norms for getting this certificate. Otherwise, a minor mistake can lead to heavy penalties. Thus, Shuratax Consulting can come to your help.
Excise is again another type of tax that is levied on goods and services assumed to be harmful to the society. Carbonated drinks, tobacco products, etc are some examples of excise goods and services. If you are unaware of the excise registration process, then get in touch with us.
Excise Advisory Services
Our experts offer all pieces of advice on excise compliance and guidelines. You can consult our experts and have a tax planning beforehand. In short, you won’t have to face financial difficulties once you come in contact with our consultants.
While talking about accounting services, we bookkeeping is the primary requirement that strikes our mind. Bookkeeping is not that easy as it seems to be and results in mishaps if not done correctly. Hence, you can think of outsourcing our accounting services that will include bookkeeping and many other aspects.
VAT Filing and Return
We offer VAT registration services for companies registered in the UAE. We deploy VAT agents who can carry the VAT compliance process on your behalf. The VAT is a form of tax that allows several exemptions by registering VAT return filing with the authorized agency. Finally, comes VAT deregistration is essential to terminate the VAT registration process. But, you need to consider several factors in order to discontinue your VAT registration. If you want to avoid penalties, then let our consultants submit the deregistration application before the deadline is over.
Let an Expert Pair of Eyes Look over the Things You Have Missed
Professional help can go a long way ensuring that you are on the right track. Thus, you can think of reaching Shuraatax Consultants to file your tax correctly. We have a group of tax consultants who will let you know the right way of filing your tax. We render our suggestions both for commercial and household purposes. Therefore, feel free to connect us both for your commercial or individual requirements. We assure our clients to file their tax before the deadline and set a very reasonable cost for our service. For further information or clarification visit our website today. You will thereby come to know who we have worked with to date.
Furthermore, check our customer reviews to determine our success rate in terms of customer satisfaction. In addition, our experts will acquaint you with the upcoming tax rate chart, IRS tax calculators, tax tables, tab forgiveness, and tax refundable schedule.