- July 7, 2020
- Posted by: Shuraa Tax Consultant
- Category: VAT - Value Added Tax in UAE
Accounting is a core aspect of any business. Professionally and precisely maintained books can help a business streamline their finances and even save big on taxes and fines. Moreover, accounting and bookkeeping are crucial for regulation & compliance. For instance, the new VAT laws in UAE require the companies to maintain books as per the new guidelines! SMEs or a start-up might not find it convenient and financially viable to hire an in-house accountant. It makes sense to seek assistance from a professional bookkeeping and accounting partner.
If you’ve set up a company or are planning for the same, this article will help you choose the right tax consultant in Dubai or right accounting firm.
Here, you will learn about the top factors to consider before choosing amongst reliable Accounting Services in UAE or tax services in UAE. Let us get going!
Team & Expertise
It pays to get associated with a versatile & capable accounting firm and tax agency in UAE that possesses experience in legal, financial & economic domains of the UAE market. The reason behind looking for such bookkeeping expertise is transition of the economy into new tax structures & regulatory changes. For instance, Shuraa Tax Consultants and Accountants bring in robust & reliable accounting outsourcing services. The team is adept in handling any volume of accounting tasks within a short turnaround.
Industry & Service Specialization
You must also assess two areas of specialization for any bookkeeping firm- 1) Industries served & 2) service specialization. Find out if the firm serves clients from a particular industry or serves everyone. If they specialize in your industry, it is a best reason to partner with them. If they turn out to serve versatile businesses, then look for their service specialization. Bookkeeping firms usually specialize in Accounting, Tax, VAT & Audit services. You must select the one that caters to your area of interest.
Availability & Support
You must look for an accounting & bookkeeping firms that keeps in touch with your business frequently. Which can give the contemporary reports. This enables you, as a business owner, to make quick decisions, solve tax/cost doubts & bolster your planning for further business growth. Accounting firms like Shuraa, that provide regular communication support & guidance to its clients has the following benefits.
- Stay updated on any anticipated UAE Tax regulations changes
- Proactive planning for your business growth from a tax perspective
- Get expert advice whenever you want
- Professional MIS reports for better decision making
- Report discussions, meetings with client
Fee Charging Structure
You must evaluate the fees structure of different firms to outsource your accounting needs. The fee will vary for each of them (your cost of outsourcing) and the way they charge it will differ too. Payment terns should also be checked. Assess your major accounting needs and outsource your accounting accordingly.
The right accounting partner will provide you end-to-end support besides the core bookkeeping services. Thus, it is crucial that you ally with an experienced firm with a sizable client portfolio. Outsourced accounting services helps to have accurate accounts which are reviewed by qualified Accounts professional.
Keep in mind the above factors and do ask these questions to the shortlisted firms for selecting the right accounting partner in Dubai. Get in touch with the expert consultants at Shuraa Tax, one of the top accounting and tax firms in Dubai, specialized in Accounting, VAT, Excise, Internal Audit, Economic Substance Regulation (ESR) compliance, Business Valuations.