Handling corporate taxes is not easy for everyone. Dubai has an especially multifaceted tax landscape. It keeps fluctuating very often. Businesses are compulsory to obey tax rules and protocols set by the government in Dubai. Corporate tax charges at 0% for taxable income less than AED 375,000 and 9% for taxable income surpassing AED 375,000. Big international companies will be taxed at a different rate. Because they fulfill specific requirements associated with Pillar Two of the OECD Base Erosion and Profit Shifting initiative. In this article, we will see the factors to consider to find a corporate tax consultant in Dubai.
Qualifications and Proficiency
The primary factor to consider while finding a tax consultant in Dubai is their Qualifications and proficiency. You have to make sure that the consultant is a specialized tax professional. Also, make sure that they have the essential certifications and experience related to the Dubai’s tax rules and regulations. it is mandatory to look for qualifications such as;
- Certified Public Accountant (CPA)
- Chartered Accountant (CA)
- Similar designations
A well-capable corporate tax consultant in UAE will hold a deep knowledge and proficiency in the local tax rules. They will be able to offer you precise advice personalized to your business or personal conditions.
Status and Track Record
After considering the qualifications and proficiency, then it is important to carefully research their prior history and status within the specific industry. Check the reviews from former clients. It will help you to evaluate their level of fulfillment with the services provided.
A skilled and trustworthy corporate tax consultant should offer quick guidance. It ensures client privacy and offers brilliant customer service. You may ask for references or link straight with past customers to receive direct feedback.
Open Services
The most important consideration is to evaluate the list of open services presented by Corporate Tax Consultants in Dubai. Corporate tax compliance and filing are prime services that must be offered by the potential corporate tax consultant in Dubai. They should also offer some extra services. It includes;
- Tax planning
- Tax optimization
- Tax audits
- Help with tax-linked legal matters
It is recommended to have a consultant who can offer all-inclusive tax services. It will be beneficial as your needs may expand over time.
Availability and Accessibility
Handling corporate Taxes are time-sensitive matter. It is recommended to hire a tax consultant who is available always. This factor to consider is important to effective tax filings and audits. Before selecting a corporate tax consultant in Dubai, it is important to make sure that they can be available whenever you need help and resolve queries swiftly. They must offer prompt help at sensitive moments such as;
- Filing deadlines
- Audit schedules
A well-known and experienced tax professional always be friendly and proficient in cooperating professionally.
Fees Structure
The most important consideration is to check the fee structure of potential corporate tax consultants in Dubai. It is essential to discuss the fees and cost structure earlier. You must know;
- How do they charge for their services?
- Whether it is an hourly fee, a fixed fee
- Is it a retainer-based agreement?
It is a good practice to illuminate what services are offered in the fee structure. Also, you must ask for any additional charges for explicit tasks. Checking cost structure is an imperative consideration. Always prioritize that tax consultant who will add value and the quality of service over the lowest price structure.
Constant Professional Development
Tax rules and regulations usually change with time. It is fundamental for a tax consultant to stay modernized with up-to-date developments. They must inquire about the consultant’s obligation to constant professional development. You must ask about their participation in relevant;
- Training programs
- Conferences
- Workshops
It ensures that they are updated about changes in tax legislation. Corporate tax consultant in Dubai who emphasizes continuing learning and proficient growth validates their enthusiasm for offering accurate and up-to-date services.
Conclusion
Finding a good corporate tax consultant helps you get reliable support about corporate tax filing, preparation, understanding the applicable and updated taxes, preventing losses, audit of financial statements, tax group info, foreign tax credit, etc. Farahat & Co…. is one of the top corporate tax consultants in Dubai. Their proficient team of expert tax consultants assists you with all linked to corporate tax registration and other applicable information.