Avoiding common misconceptions about VAT consultants
Are you all geared up to introduce the VAT program? If so, you should realize that it is a major change and some serious reshuffling may be required. The implementation of VAT is going to see some changes in the work environment, manufacturing process among others. Also, since this is the first time your business has become a part of the VAT program, you might need to hire proficient and highly reputable VAT consultants in Abu Dhabi. It is true that calculating the VAT is not for everyone. Even your tax consultants may not be able to calculate tax and vice versa. That is one of the reasons why companies tend to hire experts separately. When you look to hire a VAT consult for the first time, you may have to do things that could help you find one. Since the introduction of VAT taxation in the UAE, many companies have hired proficient VAT consultants. It has been over a year since the program was put in place, and you will find consultants in abundance. All you need to do is to make sure not to make the following mistakes before hiring one:
Not hiring one at all
That’s clearly a mistake, and you should try not to commit it. It is a fact that calculating the VAT can be complicated. There is no expert apart from the consultant who could calculate it. Also, the implications of this type of tax over your business should be taken into account. All in all, you should look to hire the consultant as quickly as you can.
Failing to explore options
Did you just hire the first VAT consultant you found in the market? If so, then you just committed a mistake. Try not to indulge in such mistakes as your business cannot afford those. Always explore available options and try to match those with your business’s requirements. You will find many consultants in the market today, unlike the scarcity that was there a year ago. Make sure to come up with a set of requirements that you want the consultant to fulfill before hiring a consultant.
See this here to know more about things to keep in sight before you begin to hire a consultant. It will help you identify a consultant who will fit well into your business needs. Moreover, the consultant may help you identify any discrepancies and rectify those too by suggesting solutions.