What Are the Top 5 Reasons Your Business Needs a Corporate Tax Consultant in Dubai?

Running a business in Dubai can be incredibly rewarding, but it also requires navigating the complex world of corporate taxation. With the introduction of new corporate tax regulations, ensuring compliance and optimizing your tax strategy has become more important than ever. This is where the expertise of a corporate tax consultant in Dubai can be invaluable. In this blog, we’ll explore the top five reasons why your business needs a tax consultant and how it can save you time, money, and stress.

What Does a Corporate Tax Consultant Do?

Before diving into the reasons, let’s first clarify what a corporate tax consultant in Dubai does. A tax consultant provides expert advice on tax planning, compliance, and strategy. They help businesses interpret complex tax laws, prepare for audits, and ensure that the company meets all its tax obligations. Additionally, they provide guidance on tax-saving opportunities and legal frameworks, ensuring your business remains compliant while minimizing your tax liabilities.

The Complexity of Corporate Tax in Dubai

With recent changes to tax regulations in Dubai, businesses are finding it increasingly difficult to stay updated with the new laws. The introduction of the corporate tax law in 2023 means businesses must adapt to a new tax framework. A Dubai tax consultant ensures your business stays compliant and takes full advantage of available tax incentives. Navigating corporate tax can be daunting, but the expertise of a corporate tax consultant in Dubai ensures that your business doesn't run into legal complications or incur hefty fines.

Why You Need a Corporate Tax Consultant in Dubai

1. Compliance with Dubai’s Evolving Tax Laws

Dubai’s tax regulations are continuously evolving. Since the recent introduction of the corporate tax regime, businesses must comply with a myriad of new regulations. Ensuring compliance with these laws is not only essential to avoid penalties but also critical for the long-term success of your business. A corporate tax consultant Dubai helps you stay ahead by interpreting and applying these tax laws correctly to your business.

By hiring a tax advisor in Dubai, you can rest assured that your company’s tax returns, filings, and compliance requirements are handled by an expert. Tax consultants specialize in keeping track of legislative changes, reducing your risk of non-compliance and avoiding unnecessary fines.

2. Optimizing Tax Efficiency and Savings

One of the biggest advantages of hiring a Dubai tax consultant or tax advisor in Dubai is the ability to optimize your tax strategy and save money. Dubai offers various tax exemptions and incentives for businesses, but without expert knowledge, it's easy to miss out on these benefits. Partnering with a tax consultant in Dubai ensures you make the most of these opportunities while staying compliant with local regulations.

A Dubai corporate tax consultant ensures your business takes full advantage of all available deductions, credits, and exemptions. They analyze your financial situation and help you identify areas where you can legally minimize your tax liabilities, ultimately leading to significant savings. Whether it's planning for the year ahead or assessing your financial strategies, having an expert’s guidance means you can focus on growth while ensuring you're tax-efficient.

3. Strategic Tax Planning for Growth

Dubai corporate tax consultants are not just about compliance—they’re also focused on strategic planning. For businesses looking to expand or diversify, effective tax planning can be the difference between success and failure. A corporate tax consultant in Dubai assists with long-term strategies, ensuring that your business is positioned for growth while minimizing the tax burden.

They will help you develop strategies for capital investments, mergers, and acquisitions, ensuring tax efficiency in each case. Corporate tax consultants in Dubai work alongside your finance team to create tax-efficient strategies that are aligned with your growth goals.

4. Assistance with VAT and Tax Filings

Many businesses in Dubai also deal with VAT in addition to corporate taxes. A tax agency in Dubai will help you manage both corporate tax and VAT filings, ensuring your business stays compliant on all fronts. VAT registration, filing returns, and claiming VAT refunds can be time-consuming and challenging. Having a tax consultant to assist with these processes can help streamline your business operations and avoid common VAT-related mistakes.

Moreover, in the event of tax audits, your tax agents in Dubai will represent your business, ensuring smooth and stress-free interactions with the tax authorities. This reduces the burden on your internal team and ensures that every aspect of your taxation is handled efficiently.

5. Minimizing Risk of Audits and Penalties

Filing errors, missed deadlines, or non-compliance with tax regulations can result in significant penalties for your business. These issues may also trigger a tax audit, which can be costly and time-consuming. A corporate tax consultant in Dubai helps you avoid these risks by ensuring your tax filings are accurate, timely, and compliant.

Should your business ever be audited, having a tax consultant by your side can reduce the stress and ensure the process runs smoothly. Engaging in professional tax consultancy in Dubai provides you with the expertise needed to navigate complex audit procedures. Their knowledge allows them to respond to queries from tax authorities efficiently, helping you avoid unnecessary penalties and disruptions to your business operations. With the right tax consultancy, you can have peace of mind knowing that your interests are protected throughout the audit process

Choosing the Right Corporate Tax Consultant in Dubai

Now that we’ve established why your business needs a corporate tax consultant in Dubai, the next step is finding the right partner. When choosing a tax consultant or tax agency Dubai, it’s important to look for professionals with proven expertise in the local tax laws and regulations.

They should have a strong track record in helping businesses optimize their tax strategies, file returns accurately, and stay compliant with the latest legal requirements. A Dubai tax consultant should also have a deep understanding of your industry and tailor their approach to meet your specific needs.

Wrap-up

In today’s rapidly evolving tax landscape, having a corporate tax consultant by your side is essential for your business’s success in Dubai. Whether it's ensuring compliance, optimizing tax efficiency, or preparing for future growth, a tax advisor in Dubai can help streamline your operations and secure your financial future.

Don’t let the complexity of corporate taxes slow down your business. Partnering with corporate tax consultants in Dubai ensures that your business stays compliant, maximizes savings, and avoids unnecessary risks. With the right expert in your corner, your business can focus on what it does best: growing and thriving in the competitive Dubai market.

By incorporating these key insights and hiring a corporate tax consultant in Dubai, your business can save time, money, and avoid legal complications. It’s the smart choice for any company looking to grow sustainably while staying compliant in Dubai’s ever-changing tax environment.

Found this blog helpful? Share it on your socials!

Found this blog insightful?
Here are a few related blogs you may want to read.

How Can Dubai-Based Companies Ensure Adherence To Corporate Tax Regulations To Prevent

Ferguson Sarah July 5th, 2021

In recent years, the United Arab Emirates (UAE) has gained recognition for its business-friendly environment, characterized by a generally low corporate tax system. The UAE is one of the few countries without a federal corporate income tax, significantly attracting businesses worldwide to establish their regional presence.However, as of 2024, the U...

Understanding VAT and Corporate Tax: What UAE Businesses Need to Know

Ferguson Sarah July 20th, 2021

The United Arab Emirates (UAE) has emerged as a dynamic hub for global business, attracting entrepreneurs and corporations alike. As businesses thrive in this thriving economy, it becomes imperative for them to comprehend the intricacies of value-added tax (VAT) and corporate tax to ensure compliance and financial stability. In this blog, we delve...

Why Startups in Dubai Should Consider Outsourcing Their Accounting Services

Ferguson Sarah August 6th, 2021

In Dubai, startups are grappling with the need for finance while efficiently focusing on innovation and growth. The significance of maintaining accurate accounting records cannot be overstated; this is where professional Accounting Services come into play. Let’s delve into the fundamental services businesses require and explore how outsourcing thes...

What Recent Changes in Dubai’s VAT Regulations Should Businesses Be Aware of?

Ferguson Sarah August 21st, 2021

Dubai, a thriving global business hub, has been at the forefront of economic development in the Middle East. With its strategic location, state-of-the-art infrastructure, and business-friendly policies, the city continues to attract businesses worldwide. One crucial aspect of conducting business in Dubai is understanding and adhering to the Value A...

Top 5 Benefits of Outsourcing Your Payroll to an Accounting Firm

Ferguson Sarah September 20th, 2021

Outsourcing has emerged as a strategic tool for businesses looking to streamline their operations and focus on core competencies. Among the various functions that can be outsourced, payroll management is a crucial yet intricate aspect demanding accuracy, compliance, and timeliness. Engaging an accounting firm to handle payroll brings forth many adv...

The Top Accounting Mistakes That Can Hurt Your Business and How to Avoid Them

Ferguson Sarah October 5th, 2021

In the intricate web of managing a business, accounting stands as a foundational pillar. However, it’s not uncommon for even the most astute entrepreneurs to stumble upon various accounting pitfalls that can significantly impact their bottom line.Understanding and avoiding these errors is critical for any enterprise’s financial health and longevity...

What are a Qualifying Free Zone Person and a Qualifying Group under UAE CT?

Ferguson Sarah October 23rd, 2021

The United Arab Emirates (UAE) has been a focal point for global businesses seeking opportunities in a tax-friendly environment. However, with the introduction of Corporate Tax (CT) in the region, businesses need to comprehend the concepts of Qualifying Free Zone Persons (QFZPs) and Qualifying Groups to navigate the tax landscape effectiv...

Application of Tax Credits

Ferguson Sarah November 6th, 2021

Tax credits serve as powerful tools within fiscal policy, offering individuals and businesses financial incentives to engage in activities that benefit society. They come in various forms, each designed to encourage specific behaviors or investments. The United Arab Emirates (UAE), known for its dynamic business environment and strategic initiative...

Whether Individuals With 1 Million AED Turnover Should Pay Corporate Tax in UAE?

Ferguson Sarah November 20th, 2021

The United Arab Emirates (UAE) has been a beacon of economic opportunity and growth in the Middle East. With its strategic location, business-friendly environment, and tax benefits, it has attracted entrepreneurs and investors from all over the world. One of the key advantages of doing business in the UAE is its favorable tax regime. However, as th...

A COMPREHENSIVE GUIDE TO VAT DEREGISTRATION IN THE UAE

Ferguson Sarah September 5th, 2024

Value Added Tax (VAT) is a pivotal aspect of modern taxation systems worldwide, serving as an indirect levy on goods and services. Embraced by numerous countries, including the United Arab Emirates (UAE), VAT operates as a multi-stage tax, impacting various production and distribution phases. It’s essential to comprehend the fundamentals of VAT der...

Maximise Your VAT Strategy with Expert Advisory Services in Dubai

Ferguson Sarah August 19th, 2024

Value Added Tax (VAT) is a consumption-based tax imposed on goods and services at each stage of the supply chain, and it has become a significant source of revenue for many countries, including the United Arab Emirates (UAE). In Dubai, VAT was introduced in 2018, and businesses operating in the region are required to comply with VAT regulations. To...

The Crucial Role of Bookkeeping in Your Business Success

Ferguson Sarah September 14th, 2024

In the world of business, success often hinges on a multitude of factors, and one that often gets overlooked is bookkeeping. Bookkeeping, the practice of maintaining meticulous financial records, is the unsung hero behind many thriving enterprises. In this blog, we will explore the essential role that bookkeeping plays in the financial health and p...

Top 10 Accounting Companies in Dubai

Ferguson Sarah September 23rd, 2024

Selecting the right accounting partner is crucial for any business operating in Dubai. From managing financial statements to ensuring compliance with local regulations, the best accounting firms in Dubai can make all the difference.Dubai hosts many esteemed accounting firms that cater to the diverse needs of businesses, ranging from startups...

How Can a Tax Consultant Help with Tax Audits?

Ferguson Sarah October 7th, 2024

Tax audits can be daunting, especially for businesses and individuals unfamiliar with the intricacies of tax laws and regulations. Whether you’re undergoing an internal audit or an external review by the tax authorities, having a tax consultant on your side can make the process smoother and less stressful. Let’s explore how a tax consultant c...

Unlock Your VAT Refund Potential: A Step-by-Step Guide to VAT Refund Services in Dubai

Ferguson Sarah December 7th, 2021

Value Added Tax (VAT) was introduced in Dubai, UAE on January 1, 2018. It is a type of consumption tax levied on the supply of goods and services at each stage of the supply chain. Businesses operating in Dubai must register for VAT and comply with VAT obligations, including filing regular VAT returns and refunds. With the introduction of VAT, it h...

Unlocking Success: The Top Accounting Companies in Dubai

Ferguson Sarah October 15th, 2024

Dubai, the vibrant hub of the Middle East, is home to several top-notch accounting companies that are setting new standards in the industry. These firms are renowned for their expertise, professionalism, and commitment to excellence. In this blog, we will unveil the crème de la crème of the accounting world in Dubai, a city where success and in...

Navigating VAT Registration in Dubai: Processes, Documentation, and Timelines

Ferguson Sarah December 20th, 2021

Value Added Tax (VAT) was introduced in the UAE in 2018, making it mandatory for businesses to register and comply with the tax regulations. Businesses must navigate the VAT registration process in Dubai accurately to avoid penalties and legal issues.VAT registration can be a tedious and time-consuming process. Therefore, it is better to seek the s...

A Comprehensive Guide To Understanding VAT In Dubai: Rates, Implementation, And Thresholds

Ferguson Sarah January 5th, 2022

The Value Added Tax (VAT) system was introduced in the UAE on January 1st, 2018, to diversify the government's revenue sources. Consequently, Dubai, one of the emirates in the UAE, follows the VAT system, and it is managed by the Federal Tax Authority (FTA). It is a consumption tax added to the price of goods and services at each stage of the suppl...

Adapting To Your Sector Industry-Specific VAT Solutions For Dubai Businesses

Ferguson Sarah January 19th, 2022

Value-added tax (VAT) is an indirect tax that is levied on goods and services at each stage of production and distribution. The United Arab Emirates (UAE) introduced VAT on 1st January 2018. VAT has had a significant impact on businesses in Dubai, UAE, and many industries have had to implement sector-specific VAT strategies to ensure compliance wit...

Empower Your Team: Customised Vat Training And Support Solutions In Dubai

Ferguson Sarah June 15th, 2021

Given that adhering to VAT regulations could be a complicated function, more and more businesses in Dubai are rightfully taking the help of training and support solutions. Partnering with an expert VAT services provider can help avoid violations and penalties while getting access to expert knowledge of VAT implementation. Ongoing support and an eff...

Mastering VAT Compliance and Reporting in Dubai: Key Deadlines and Best Practices

Ferguson Sarah February 12th, 2022

The VAT introduction in UAE has necessitated business owners to understand the impact of consumption tax on goods and services sales. Not adhering to the rules and regulations regarding VAT can lead to significant monetary punishments and penalties. The compliance requirements apply to tax-registered businesses operating within the UAE mainland and...

Minimising Risks and Ensuring Compliance: Vat Audits and Assessments In Dubai

Ferguson Sarah February 18th, 2022

In today’s regulatory landscape, navigating compliance audits, creating risk mitigation plans, and staying updated on penalty regulations are crucial tasks for businesses in Dubai. The introduction of VAT has made compliance auditsc hallenging. However, businesses can use external experts such as a reputable VAT Consultancy Dubai, to streamline the...

How Accounting Services Can Help Small Business Grow In The UAE?

Ferguson Sarah March 12th, 2022

Accounting services are vital in the growth of a small business. They form the base on which the entire financial structure of the small business is built. From advising the company executives about the financial health and cash flow to keeping the accounts well organised, accounting services play a crucial role. A small business owner with ke...

Know About Corporate Tax In UAE

Ferguson Sarah March 21st, 2022

UAE is a no-tax commercial hub. 'UAE income tax' is not a commonly used term either. Only municipal and custom taxes are applicable. An emirate-level tax is paid by some services, like taxing large Oil and Gas Corporation and Foreign banks operating in the emirate. It also has large areas designated as free economic zones, where full foreign o...

Essential Tips To Choose The Best Accounting Service Provider In UAE

Ferguson Sarah April 11th, 2022

There are several factors that business owners have to consider before choosing an accounting service specialist who can handle all their company's accounting tasks. From quality services, skills, and price ranges to meeting scalability requirements, all these aspects play an essential role in choosing the best accounting service provider in Dubai....

Accounting Services For E-commerce Companies In Dubai

Ferguson Sarah April 21st, 2022

Accounting is one of the most critical determinants for the long-term success of any business. Though it's a time taking process, one can't ignore it. But when it comes to an E-commerce business, the process becomes a little bit different. Overseeing cash flow is essential to deciding the progress of the E-commerce business. Therefore, irrespective...

Hiring Online Bookkeeping Services For Small Businesses

Ferguson Sarah May 14th, 2022

What is Bookkeeping?Bookkeeping is the process of accurately recording a business's financial activities. Bookkeeping services for small businesses are crucial for maintaining organized financial records. This involves documenting all financial transactions into well-structured accounts on a daily basis. Bookkeeping is an essential part of accounti...

TRN Number in UAE

Ferguson Sarah May 20th, 2022

The TRN (Tax Registration Number) is a special number for individuals who are registered for value-added tax (VAT) in the UAE by the Federal Tax Authority. The implementation of VAT was an addition in the UAE taxation law implemented on 1st January 2018. Like explained in our previous posts the law required companies to be registered for charging V...

What are Zero-Rated Supplies in UAE VAT?

Ferguson Sarah July 9th, 2022

The term "Zero-rated supplies" in UAE refers to any taxable supply on which VAT is zero charged. Moreover taxation charged here is based on the nature of supply, despite the goods or services stocked or specified goods or services enlisted under zero rated list.In general, total export of goods and services in UAE is considered as zero rated suppli...

VAT Refund Scheme on Goods & Services Linked With Expo 2020 Dubai

Ferguson Sarah June 6th, 2022

As the countdown for "World’s Greatest Show" begun, Dubai government has initiated several measures for providing the best of facilities to people visiting here from across the globe. In continuation, FTA (Federal Tax Authority) has rolled out notifications about conditions and procedures for grant of VAT refund to business officials in UAE for fac...

Know How of Input Tax Recovery Process in UAE

Ferguson Sarah June 18th, 2022

An input tax is the amount paid by any personal on every purchases made or inward supplies. The major feature of VAT in UAE is recovery of tax paid on inputs where a person can reduce the amount of input tax likely for recovery from tax payable amount & pay the balance amount as tax.It's a kind of guarantee that tax is only paid to value added...

Important Facts About Tourist VAT Refund In UAE?

Ferguson Sarah July 22nd, 2022

Imposing value-added tax (VAT) at a standard rate of 5% by the UAE government was a landmark decision to diversify the country's economy away from oil.Moreover, tourists visiting emirates are eligible for claiming back 85 percent of applied VAT on goods purchased by them. More than 4,500 companies registered for this scheme during the initial stage...

Difference between Commercial Invoice and Tax Invoice

Ferguson Sarah August 8th, 2022

The eminent arrival of VAT has bought a confusion of difference between commercial invoice & tax invoice for some professional tax consultancy services provider which actually is quiet strange. But not to worry, here’s a brief about variations in both commercial & tax invoices:A commercial invoice is a bill of sale provided from selle...

How to Choose a Tax Consultant in Dubai?

Ferguson Sarah August 20th, 2022

The financial vertical of any business is one of the most complex areas. It involve aspects; Tax payments and deductions which requires a clear understanding to help in running the business smoothly. An experience tax consultant can help you handle the finances wisely.Here are some pro-tips helpful in choosing a tax consultant-Clarity About Type of...

How To Differentiate Between Excise Tax and VAT in UAE?

Ferguson Sarah September 8th, 2022

The introduction of Excise Duty & VAT happened almost the same time (i.e. 2017-18) in UAE. Both are a form of indirect taxation levied on selected goods & services for various purposes which leads to additional revenue for the government in UAE.It can be a bit difficult for people to clearly understand the difference between these two terms...

Costly Errors to Avoid for the Businesses When Filing Their VAT Returns

Ferguson Sarah September 19th, 2022

Filing a VAT return is a complex process. There are numerous intricacies and quirks that catch business owners out. As it is a daunting process, mistakes with VAT filing are all-too-common. It can be a huge headache for the businesses, as they have to fulfill additional payments as penalties/fines.With the complications of the VAT laws, it is quite...

Steps to Avoid VAT Penalties in UAE & Comply with New Regulations

Ferguson Sarah October 5th, 2022

VAT (Value Added Tax) has been implemented in the UAE in the year 2018. Right after its implementation, it has become crucial for the UAE businesses to prepare themselves towards this new taxation system and be “VAT Ready” to avoid penalties related to VAT.Before knowing the ways to avoid VAT penalties, it is must to know what exactly this term mea...

VAT Return Filing – Quick Steps to Turn the Process into Success

Ferguson Sarah October 17th, 2022

Value Added Tax is a recent initiative step taken by the GCC countries. As a new implementation on the businesses conducted in the UAE, the idea behind launching this was to bring out a new source of revenue to the government. Before elaborating the process of VAT return filing, let’s further explain the basics of VAT.What is a Value Added Tax?The...

Super-Effective Accounting Checklist for Exceptional Financial Growth of Business

Ferguson Sarah November 7th, 2022

In today’s competitive arena, a company needs to generate profitable results in order to be successful. Whether you’re running a small or a large business, it becomes essential to determine if the revenue earned by the company is more than the expenditure incurred by the entity or not. This is where the need for accounting firms in Dubai arises.Tho...

Know About the Records You Should Maintain For VAT Auditing

Ferguson Sarah June 5th, 2021

All Businesses in UAE must be prepared for official and obligatory audits in 2019, as it has been one year since the VAT has been implemented in UAE. VAT auditing is conducted for all kinds of businesses to ensure the accuracy of accounting, bookkeeping, and filing of VAT returns.But before preparing for a VAT audit it is important to gain a clear...

Is Outsourcing Your Bookkeeping Process the Best Option?

Ferguson Sarah December 8th, 2022

Bookkeeping is a real challenge for all types of business. From recording the economic activities of the company to summarizing the business transactions in an orderly manner all in which aid the survival of the organizational. Whether it is a start-up, small business or an established firm the main priority is always the growth of the organization...

FTA Publishes Clarification on Bank Interest and Dividends

Ferguson Sarah November 19th, 2022

The Federal Tax Authority (FTA) has issued a publication to shed light on certain aspects of the VAT implementation, including Federal Law No. 7 of 2017 which covers the major aspects of tax procedures and Federal Decree-Law No. 8 of 2017 which covers the various aspects of value added tax and executive regulations.Furthermore, Khalid Al Bust...

Update on UAE’s VAT Refunds for Business Visitors

Ferguson Sarah December 19th, 2022

The Federal Tax Authority (FTA) has published the updated version of the “Guide on VAT Refunds for Business Visitors.” According to the guide, there are specific procedures to be followed by foreign visitors applying for VAT including the timeline for submission of applications and the minimum amount that visitors are allowed to claim.The guide als...

Qualities to Look Out for In a Tax Consultant

Ferguson Sarah January 10th, 2023

A good tax consultant will not only help you to avoid paying heavy taxes that arise from wrong filing but can also develop a suitable strategy that can save millions over the life of your business. In this post, we shall be looking at the qualities of a good tax consultant and things to keep in mind when hiring one for your business.&nbs...

Signs Your Business Needs Tax Consultancy Services

Ferguson Sarah January 23rd, 2023

Taxation is still fairly new in the United Arab Emirate and if you will tell yourself the truth, you have no clue as to what tax is all about and how to do the filing. The truth is, filing taxes is a complicated process. So if you are like most smart business owners, you have already hired a tax consultant to handle all aspects of filing your...

6 Ways To Keep Away From VAT Penalties

Ferguson Sarah February 4th, 2023

Every country has their own taxes. It is a mandatory financial charge imposed upon a taxpayer individual or any legal entity by the government in order to fund the government. Recently UAE introduced the Value Added Tax (VAT) on the 1st of January 2018. According to the law, a 5 per cent tax is levied upon the majority of transactions in goods and...

Tips To Survive An External Audit

Ferguson Sarah February 18th, 2023

Whether your company is a recent establishment or a really old one, regular audits are necessary to keep your organization’s accounts updated and in compliance with the laws. The process provides third-party assurance to the stakeholders that the company’s financial statements are in an order allowing them to evaluate and improve risk management, c...

How Much Do You Know About Standard VAT Accounting Scheme?

Ferguson Sarah March 6th, 2023

With the introduction of VAT in UAE in Jan of 2018, there is a 5 percent tax levied on all goods and services that are not VAT exempt. Companies dealing with the said goods and services needed to register themselves under the law. With VAT part of all the financial transactions for any company, it is important to learn more about VAT Accounting Sch...

Good Bookkeeping Practices For Your Business

Ferguson Sarah March 18th, 2023

Bookkeeping is the process of keeping track of all your money coming in and out and flows within your business. Having a chronological record of all the transactions like credit/debit transactions, a record of the assets/liabilities held by your business, and reports of income, expenses, and sales all come under bookkeeping services.Bookkeeping ess...

Understanding UAE’s VAT Laws Better

Ferguson Sarah April 6th, 2023

Value Added Tax (VAT) was introduced in the United Arab Emirates at a rate of 5 percent in January 2018. This government decree was bought in to provide UAE with a new source of income, that will be used to provide better public services. The main agenda behind this move is to help the United Arab Emirates government to move towards its aim of redu...

Professional Accounting Services To Help Your Business

Ferguson Sarah April 24th, 2023

Running a business needs hard work and dedication. As a self-employed contractor or a big business owner, you will be doing and managing a wide array of roles in your day to day business. There are often times when you fail to notice the need for a skilled professional to do a particular task which causes monetary loss. Financial management,...

VAT Penalties And Its Legal Actions

Ferguson Sarah April 24th, 2023

Assuming that you have had a conversation regarding VAT penalties with your accountant, you might feel as though all your options have been completely exhausted. This is where you probably require some additional assistance in understanding VAT penalties and how they can be avoided. This blog will give you an insight into what is VAT penalty,...

Impact Of VAT On Business Corporations

Ferguson Sarah May 10th, 2023

It is almost nine months since VAT has been implemented in UAE. Many business corporations are gradually feeling and facing its effects on diverse intensities. While many companies have settled in smoothly, numerous business owners continue to feel the pressure. In fact, there are several companies who are facing the consequences of a hasty registr...

Find Out Three Excellent Benefits Of Hiring A Bookkeeper

Ferguson Sarah May 23rd, 2023

Owning a business and running a successful business are two separate things. You might probably have huge amounts of capital investments, but are you looking for ways through which you can increase your revenues as well? Well, this could be an excellent opportunity to hire a professional bookkeeper. In order for your business to thrive, it is essen...

4 Things To Look For As You Hire A Tax Consulting Company

Ferguson Sarah June 5th, 2023

As businesses continue to flourish in diverse sectors, company owners are looking for professional help in order to increase their success rates. Dubai is a fast-developing city. In 2017, they had an overall growth of 2.8% which has been increased by 1% in the span of 8 months. This not only increases capital inflow from other countries but increas...

Four Crucial Reasons Why A Professional Bookkeeper Is Necessary For Your Company

Ferguson Sarah June 19th, 2023

Irrespective of the business you hold, it is very important to have an organised structure. Even though, as an entrepreneur you would have started off in an organised manner, slowly with the growing clientele, you would be so engrossed in building businesses that you might forget to keep a clear accounts record.Bookkeeping is extremely essential in...

Know The Importance Of Hiring A Tax Consultant For Management Services

Ferguson Sarah July 5th, 2023

In this competitive world, it has become very essential to plan out the strategies so as to earn a reputable position in the market. The competition in the market has made many entrepreneurs skeptical of starting their own companies as people, in general, fear the sense of failure. At times, some business investors have no other choice but to shut...

Get Help For Your Accounting Responsibilities Through experienced Tax Consultants.

Ferguson Sarah July 24th, 2023

In this modern age, setting up a business can be a very tedious process. Especially, it is even more difficult if you are expanding your company to a completely different country. You will face a number of obstacles in order to get approval from higher authorities. This can prove to be a very strenuous phase in your life where you have to not only...

Having Trouble Dealing With VAT Related Issues In Your Company? Rectify It Now!

Ferguson Sarah August 7th, 2023

Whether you are starting a new firm or expanding your business overseas, it is extremely important to handle all the formalities diligently while you setup your business. Most of us do not have any interest in dealing with formalities that would not impact the company’s business. However, it is equally vital to understand the legalities associated...

Does your business need financial assistance?

Ferguson Sarah August 21st, 2023

Finance is an important aspect of every business, regardless of their nature or how long they have been in existence. Every business has to handle their finances in order to bring in the best results for the business. You can get this financial assistance from tax consultants in Dubai. If you are a new business that is just entering the market, you...

Can Your Business Avoid VAT?

Ferguson Sarah September 8th, 2023

Value Added Tax, commonly known as VAT, is a well-known form of indirect tax in the developed world. It is imposed on all goods and services in the market and is represented in the market price of the goods and services. Government impose this tax to generate reveune, and it is a great source of income for the government of a country. All bus...

Do you really need to keep track of your accounts?

Ferguson Sarah September 23rd, 2023

Keeping track of the business accounts is not something any person enjoys doing. People are always looking for excuses to avoid doing this boring task. But, with the implementation of the new laws of the country, now it is mandatory for every business to maintain a record of their business activities for taxation purposes. If a business fails to co...

Handle your finances better!

Ferguson Sarah October 9th, 2023

Handling finances of any business is important when it comes to success. Failure to manage your finance will cause irreparable damages to your business. If your business decides to manage the finances internally, it might not be done in the most efficient way. Finances are something that should be handled with great care. Tax consultancy in Dubai i...

Pay Taxes Or Face A Penalty!

Ferguson Sarah October 23rd, 2023

With the introduction of value added tax to The United Arab Emirates, it is compulsory for businesses to pay taxation for the goods and services they sell. Failure to abide by the tax law will bring in many consequences to the business. Paying value-added tax is not something you and your business have done before. This was something that was intro...

Perks Of Tax Consultancy

Ferguson Sarah November 7th, 2023

Obtaining Tax consultancy in Dubai has become essential in the recent years with the mandatory laws in relation to bookkeeping. You might not be aware of the nature of Value Added Tax (VAT) and you will need assistance to deal with it. Our team of professionals will educate you about the whole process, find a solution for you and will tell you if t...

Why Is Record Keeping So Important?

Ferguson Sarah November 20th, 2023

For all these years your business has been operating, you might not have kept record of all your activities. Now it is time for you to get rid of that practice and start recording your business activities. Due to recent government legislature, you might be imposed with a penalty if you fail to keep track of your records. You can obtain the services...

Get Some Accounting Assistance From Us

Ferguson Sarah December 9th, 2023

Every business regardless of its size faces accounting problems. These problems defer from situation to situation and time to time. It might turn out to be hard for you to solve these problems internally. It might be a problem you have never faced before, and you might not know what to do. Maybe your year-end accounts do not balance, and you cannot...

Choosing The Best Tax Consultancy Firm For Your Business

Ferguson Sarah December 22nd, 2023

Taxation is something most businesses consider as a hassle and dislike handling. In order to overcome this problem, you can obtain the services of Tax Consultants in Dubai. However, you should be cautious when choosing a tax consultancy firm because taxation is a significant part of any business and it is vital to choose the best firm that will tak...

Business Under VAT - What Needs To Be Overseen

Ferguson Sarah January 8th, 2024

VAT is a consumer indirect tax and general consumption indirect tax, collected incrementally and based on the business’ production and sales. UAE VAT is imposed on sold and bought goods and services. It is where the end-user has to bear the tax in the supply chain system.With the introduction of VAT in the UAE, it is the goal of the Government to d...

How VAT Return Filing In The U.A.E Works

Ferguson Sarah January 22nd, 2024

VAT return filing can be performed by a tax consultancy firm in Dubai. It is an online form that needs to be submitted to the FTA. The VAT return filing would indicate the businesses' output tax and input tax along with any other information. The return can be filed by the business it self or Tax Consultant. The FTA informed big businesses tha...

A Few Key VAT Facts To Know In The GCC

Ferguson Sarah February 7th, 2024

Value Added Tax or VAT as its better known, was introduced to the GCC for the first time ever, in January 2018. The move set in motion a series of changes for businesses in the region, and marks a milestone moment for the oil-rich area as well. VAT will effectively provide an alternate means of income, allowing the already developed and in fact, qu...

A Few Ways To Help You Tackle The Introduction Of VAT Better

Ferguson Sarah February 20th, 2024

As of January 2018, the UAE implemented VAT across all its member nations, with a particular focus on businesses and other ventures also launched with the intent of business. This includes companies and organizations drawing in an income of AED 375,000 annually and rented properties for commercial purposes as well. Whilst the rules governing differ...

Tips To Help Prepare Your Business For VAT

Ferguson Sarah March 7th, 2024

With the recent introduction of VAT in the GCC, companies and businesses in all of the region’s countries are now preparing to complete implementation by 2019. As the process is extensive, it could take up to a year as predicted by officials to ensure every company has registered for VAT accordingly. We, as a leading and long-established tax consul...

3 Reasons Why Tax Consultancy Is the Only Tax Consultant You’ll Ever Need

Ferguson Sarah March 22nd, 2024

As of January 01st 2018, the UAE will be subject to VAT laws which will affect businesses who fulfil specific VAT criteria. Whilst you’d need to double-check whether your business specifically needs to adhere to these VAT protocols, in general, businesses who meet the income threshold of AED 375,000 annually definitely to make the 5% commitment acc...

A Crash Course in VAT Laws and the UAE

Ferguson Sarah April 9th, 2024

From January 01st 2018, all businesses in the UAE bringing in an income of AED 375,000 and over must register for VAT, and continue to meet the necessary tax regulations accordingly. The Sarah Ferguson Tax Consultancy has been a preferred tax consultant Dubai for a number of reasons, our extensive experience being a key one of them. In line with th...

VAT for Dubai Registered Companies

Ferguson Sarah April 22nd, 2024

If you’re currently in the process of setting up your own business either as a start-up or small business, then it is vital that amongst all other processes including registration, scouting out an office and hiring employees, you also implement the right tax protocols along the way. This primarily begins with maintain accurate business transaction...

Life after VAT in The UAE

Ferguson Sarah May 6th, 2024

As of January 01st 2018, all business entities that bring in an annual revenue of Dh375,000 and over, must register for VAT, after which they will be liable for a 5% VAT charge. Those that earn less than Dh375,000 but over Dh187,500 can register if preferred, although at this stage it isn’t mandatory. This includes newly built residential propertie...

Examining the Newly Implemented VAT Laws In The UAE

Ferguson Sarah May 20th, 2024

As a business owner in the UAE, as of 1st January 2018, it will be mandatory for certain companies to be registered for VAT.VAT is commonly known as an indirect tax that’s levied on the consumption of goods and services in a country, and is currently in effect in over 180 countries worldwide. The UAE joins this list as of this year, and as such, re...

Grasping The Basics Of VAT In Dubai

Ferguson Sarah June 8th, 2024

What is VAT?VAT stands for Value Added Tax. This is a certain percentage imposed on most goods, subject to exceptions and limitations, during each stage of its production and distribution. Even though VAT in Dubai has not been exhaustive, with recent times, there have been more regulations imposed on businesses in a manner which isn’t too burdensom...

Investing With A Tax Consultancy In Dubai

Ferguson Sarah June 22nd, 2024

Daily we come across abundance of tax firms here in Dubai. Not only are more people now concerned about the way in which they regulate their tax payable but more of us are now keen on ensuring that we reduce the amount to be paid as much as possible within a regulated and legal scope. However most of us, struggle to manage these numbers by ourselve...

VAT On Household Products In The GCC

Ferguson Sarah July 10th, 2024

Overview on VAT in the GCCVAT registered businesses that supply goods and services are subject to VAT at either the standard or zero rate from 1st January 2018. The mandatory registration threshold shall be AED 375,000. Unless supplies of goods and services are zero rated or exempt, they will be subject to VAT at the standard rate. The standa...

VAT On Education In GCC

Ferguson Sarah July 22nd, 2024

Overview on VAT in the GCCVAT registered businesses that supply goods and services are subject to VAT at either the standard or zero rate.The mandatory registration threshold shall be AED 375,000. Read MoreUnless supplies of goods and services are zero rated or exempt, they will be subject to VAT at the standard rate. The standard rate will be...

Top 10 Audit Firms in Dubai

Ferguson Sarah August 6th, 2024

The UAE, especially Dubai, is a booming business hub with a dynamic and competitive environment. Compliance with regulatory requirements is essential for businesses operating here, and audit firms play a critical role in ensuring financial accuracy and transparency. Whether it's conducting external audits, internal audits, or ensuring VAT and...

Top 10 Chartered Accountant Companies in Dubai

Ferguson Sarah October 26th, 2024

Dubai is a bustling financial hub with countless businesses requiring professional accounting services to stay compliant and manage their finances effectively. From small startups to large corporations, many companies seek best CA firms in Dubai for their expertise in financial auditing, tax consultancy, and business advisory. To navigate this...

Top 5 Reasons to Hire a Tax Agent in Dubai and How It Can Save You Money

Ferguson Sarah November 8th, 2024

When it comes to managing taxes, particularly in a dynamic city like Dubai, navigating the complexities of tax laws and regulations can be overwhelming. Whether you're a business owner, an expatriate, or an individual, understanding the nuances of Dubai’s tax system is crucial for staying compliant and avoiding costly mistakes. Hiring a tax co...

The Ultimate Guide to Choosing an Exceptional Accounting Company in Dubai

Ferguson Sarah November 11th, 2024

Are you on the hunt for an exceptional accounting company in Dubai? Look no further than our comprehensive guide, where we will walk you through the process of finding the perfect partner to handle your financial needs. In today's fast-paced business world, it's crucial to have a reliable accounting team that can provide accurate and timely fi...