Category: Tax agents (page 1 of 2)

The Role of Tax and Accounting Services

tax service

Tax service and accounting are one of the most important functions of any business firm. Irrespective of their nature, size or scale of operations, organizations employ accountants, payroll managers, tax service, consultation and auditors to streamline the financial and regulatory records of their day to day transactions, bookkeeping processes and different in-house accounting wants and requirements. With the rise in employment and number of business transactions, these companies are finding it additional convenient to source this core function to professional tax service and accounting services providers.

Apart from making diligent and experienced adjustments to accommodate client requests, they additionally provide access to state of the art infrastructure and software support to manage confidential accounting data-smartly and in a quick manner.

Most of those service providers are supply professional and high-quality services. They provide an exhaustive list of services starting from the most critical jobs like tax and come filing to the generic ones like debt bank, payroll management, reconciliation, preparation of final accounts and income-expenditure statements, accounting of receivables and payables and another day to day data entry work.

The additional corporations are looking towards minimization of operational and transactional costs, availing customized tax preparations and other services-the reliable and trusted way.

Nam Accountants offer customized professional accounting and tax services to high-growth companies across various industries.

Tips on How to Choose a Tax Agent

tax agent

It’s once again the tax season however you haven’t hired any Tax Agent and now you’re troubled because your company is at risk. What to do in such situation? Who to believe and who not to? Evidently right now there are thousands of queries running in your brain and you’re doubtful regarding the consultant that you’ll hire will be good or bad.

Here you will find the tips which will be help for you while choosing a Tax Agent.

  1. Asking the Right Person

First step is to ask from among friends and relatives who have some experience on this activity. Appearances are deceiving. Friends and relatives who seem prosperous are not essentially those who have the simplest tax agent. However, those who have own some business and many properties may have someone whom they calculate to do their tax statements. These individuals obviously would suggest someone.

  1. Deciding Which Tax Consultant

After short listed for the tax agents, make an appointment to visit their office. Tax agent is privy to extremely confidential financial info. Before deciding that one, the experience and credentials of the chosen one should be established.

Tax preparation needn’t be something to be anxious concerning. As long as you’ve got the proper tax consultant with you then there’s nothing to worry about. Assist the tax professional by keeping records in an organized manner. Don’t build unrealistic demands unless ready to supply information and data that may build those demands happen. Good accounting work takes time and effort. Your cooperation and honesty is important to positive results. The tax consultant could be a key person for your financial well-being. Make sure to have the proper tax agent for worry-free tax statements.

If you are looking for a Tax or VAT Consultancy in Dubai,

Visit: www.namaccountants.com

Choosing a Tax Agent in Dubai

We have lot of benefits from having a good Tax agents in Dubai. Here are some tips for getting good Tax agents in Dubai, to help you get in order your individual tax returns.

  • Complete tax situation
  • You have more tax issues. This includes being behind in filing tax returns, owing tax to the government among the range of accounting services.
  • You are having issue filing your own individual tax return.
  • You want to protect your business, like acquisition, financial and leasing.

The tax agents who is qualified to handle particular areas that you may need to help in dealing with. Here are some tips:

  • Do not trust agents accountants who say that everything are often deducted or that they will deliver big tax refunds every time.
  • If you have got a straightforward, uncomplicated tax return, you’ll approach any retail accounting company to assist you prepare and file it. The price usually depends on the amount of tax forms to be accomplished and also the seniority of the tax accountant.
  • Get only certified and authorized tax agents in Dubai. Keep in mind that there’s a range of accounting expertise.
  • You have the option of going to a Tax consultancy firm.

In you search for the correct tax agent in Dubai; you will be dealing with tax experts.

If you have any assistance in Tax preparation, Visit: www.namaccountants.com

Effect of VAT Implementation in the UAE

VAT Consultant in UAE

Even though UAE is usually perceived as a totally tax-free country because of lack of income tax, this notion is untrue. Simply to call a few, there are tourism fees, property tax, and custom duties that are imposed on consumers and businesses. However, VAT goes to be implemented within the UAE for the first time. Governments usually impose VAT in order to increase revenue and provide more public service.

Advantages of Value Added Tax (VAT)

  • AT is simple to administer as compared to other indirect tax.
  • There is mass participation of taxpayers.
  • As compared to other taxes, there is a less chance of tax evasion.
  • The price does not increase as a result of VAT.

How to prepare for VAT?

VAT rules are often complicated and also the implications don’t seem to be always considered. Implementation of VAT wants careful planning for its success. Our expert VAT consultant can help you consider each stage of the implementation process.

VAT Implementation

We can provide a simple accounting systems and implementation of VAT rules. That are,

  • Analysis of IT system and accounting requirements
  • Assist with the VAT registration
  • Assistance in claiming VAT refunds
  • Analysis of the VAT impact on your business
  • Preparation and filing the VAT returns

PROCEDURE OF FILING VAT RETURNS IN DUBAI, UAE

vat consultant in dubai

What is VAT Return?

It is a statement that shows the taxpayer’s VAT liability for an exact amount. This formal document has the main points of the tax liability: tax payer’s name, tax paid, tax saved, etc.

VAT Return Important?

This document is important for the reason that it’s all the recorded tax paid by customers for a period of time. It serves to be a signal that a registered business has paid the tax due. To have a correct and working tax system within the country, these documents are required for that maintenance to make sure that each tax liability is paid on time.

Procedure for Filing VAT Returns in Dubai, UAE

There is no facility that may be designed and dedicated for VAT tax returns filing alone. Businessmen won’t manually file their VAT returns. Everything is done online. It’s fairly easy to be familiar with the online portal to able to recognize the process and file VAT.

The details that may be utilized by the taxpayer are the e-mail address and password that were used in making an account upon registration on the portal.

  • Go to the Federal Tax Authority website at tax.gov.ae
  • Go to the e-services section of the website
  • Add the login details, which are the TRN and password
  • Choose the return filing option
  • The VAT return should then be filled with your business’ details
  • Upload the necessary documents
  • Check the details to ensure that they are all correct and submit the form with the documents

Nam accountants, one of the best VAT Consultancy Dubai, UAE. We offer cost-effective VAT services. We have high qualified VAT consultants in Dubai.

How to file VAT Return in Dubai and Across UAE

VAT consultants in dubai

VAT (Value added Tax) is set to implement in Dubai in Jan 2018. The govt, as well as several personal institutions, are releasing new data frequently to assist people and businesses get familiar with the new tax system as smoothly as possible. Among several things VAT connected, one among the foremost important is VAT tax returns.

As per the normal VAT standard, the returns are filed quarterly, i.e., once in three months. The VAT returns are going to be filed online on the official portal of the Federal tax authority. Businesses that are trying forward to creating a sleek transition to the new tax system should get familiar with the return filing procedure under VAT in Dubai.

What is a VAT Return and why is it important?

A VAT return is that the formal document/statement of the VAT liability of a taxpayer for a selected tax period. It contains the small print of VAT liability of the person, tax paid by him, etc. for a tax month or quarter.

VAT returns are vital as a result of they contain the records of the tax paid by the users in a very given period. It’s a proper document that works as a proof that the sure party has paid their tax. The govt. needs these records to keep up a correct taxation system wherever each individual pays his/her liabilities on time. These are utilized by the tax authorities for activity auditing and different activities as per the tax laws. Your VAT come contains the summary of your total earning and therefore the value-added tax paid by your on it earning for that exact period.

Get you VAT in UAE Questions Answered By Experts

VAT consultant in UAE

VAT in UAE has been implemented on Jan 1st, 2018. Till now no one has a clear picture about VAT. Even lot of companies are in a confusion situation about what VAT is?  If you are one of them you are at right place.  namassociates will help you to clear all your confusion on VAT in UAE  and also helps you in filing for VAT

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our Nam associates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

Do not pay VAT if your bill doesn’t have these

vat consultant in dubai

A tax invoice must include the name and address of the establishment. An invoice must have a sequential tax invoice number or a unique number and date of issue, which enables identification of the tax invoice and the order of the invoice in any sequence, the federal law says.

VAT Services

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our namassociates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

TRN a must for charging VAT in UAE

VAT Consultant in UAE

There are some traders who are charging value-added tax (VAT) without showing the Tax Registration Number (TRN) on the receipt.

A tax invoice must include the name, address, and TRN of the registrant making the supply. An invoice must have a sequential tax invoice number or a unique number and date of issue, which enables identification of the tax invoice and the order of the invoice in any sequence.

 Ministry of Finance approves first purchase invoice with

The Ministry of Finance (MoF) on Tuesday issued the first VAT-inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018.

The ministry provides a fully-integrated system, a technical support team, as well as a telephone number dedicated to responding to any inquiries related to VAT (value-added tax) from any federal entities linked to the system.

VAT Services

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our namassociates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

  • VAT Consultancy
  • Accounts for VAT
  • VAT report preparation
  • Setting up accounting records and maintaining them
  • Tax Planning
  • Filing Returns with VAT authorities

First 100 Days of VAT in UAE

namaccountants.com
January 1, 2018 represents a historic date for the UAE as it introduces Value Added Tax.

Many would have spent time during 2017 suitably preparing for the introduction of VAT  in UAE, while others would have completed a swift, essential exercise only to try and catch up with the new laws by the end of the year. Whichever category you fall into, what will the first 100 days of VAT mean for you?

To have a good headstart, it is assumed that the impact of VAT has been assessed and implemented, VAT registration has been applied for where necessary, and a Tax Registration Number (TRN) has been issued.

Day 1, week 1, VAT start

VAT is effective from the start of business on 7am on January 1, 2018.

Customer communication / Signage / Systems

Inevitably, the hospitality and retail sectors will be first to feel the effects of VAT. Staff training and communication are essential to help deal with any consumer enquiries on pricing and receipts. Point of sale systems should include VAT. Signage for customers ought to help.