UAE VAT law has come to Dubai which has rendered a lot of changes here in Dubai as well. the implementation rate of VAT IS 5%.
A lot of people have literally in fear of VAT. They think that their businesses will get affected by VAT to a great extent. This has raised a lot of questions in the mind of businessmen. The main reason behind this confusion is nothing but due to lack of knowledge.
Businesses are advised to take VAT knowledge or training so that they may not get scared of this term anymore. As the rate of the VAT in UAE is very low as 5%, the wouldn’t be a lot of changes in the pricing schemes. So, this is why there is nothing that the businesses should worry about. Also, the money that would be given to the government as a tax would be used in the favor of the residents themselves and it will release the burden of the country’s economy from oil and its other hydrocarbons.
Preparation for VAT implementation
Businesses have started to implement VAT in Dubai and because of the VAT implementation in UAE, Dubai and Gulf countries, huge demand of the VAT specialist professionals to register for vat in uae has popped up.
Who are VAT specialists?
VAT consultants in Dubai are those individuals who are very well aware of all the laws and regulations that are related to VAT. They know what changes are related to VAT and that is why they know how the businesses can implement VAT in them quite successfully. The nitty and gritty of VAT is really important for the businesses to know. VAT specialists know them all. If you need a VAT specialist for your company, you must take help from Farahat & Co agency in Dubai. There you can find the professionals who are very well trained as per the UAE VAT law. These agencies can help the companies in supporting them with resolving the challenge of VAT really easily. The VAT specialists may teach the businesses how the can incorporate VAT in their businesses. So, always take the help of the VAT specialists in the UAE.
Hiring VAT specialists
When you are hiring a VAT specialist for VAT registration in UAE, you must take into consideration all the business operations that will be impacted due to VAT. Your existing resources, your business’ annual turnover all make a difference in the VAT activities that you will have to apply. All of these little things associated with the business are impacted by VAT.
While hiring a VAT specialist to make sure that your VAT specialist knows all the legalities of VAT. He should be able to take the wiser decisions for the company and should also be trustworthy. Trust is the basic element because if a tax agent in UAE is not trustworthy, a lot of things can get devastated. So, it’s better to hire someone who knows the rules and regulations of VAT.
Requirements for a VAT specialist
- Degree in accounting, finance or economics
- Practical experience
- Good communication skills
- Ability to identifying opportunities.