UAE has just entered the world of taxes. While Excise Tax went into effect on October 1, 2017, Value Added Tax (VAT) went into effect on January 1, 2018. The rate of excise duty on carbonated beverages is half that of tobacco and caffeinated beverages, and it is 100 percent suitable for both. However, the VAT rate is merely 5%, which is the world's lowest tax rate.

While implementing VAT in their business streams to ensure that they are VAT compliant, UAE businesses are encountering a slew of challenges. Because VAT is a relatively new concept in the area, it needs the assistance of knowledgeable and experienced Tax professionals to assist firms, particularly in the early stages of implementation.

• Monitor Financial Transaction of the company
• Documentation of Tax Filing
• Maintain compliance with government laws
• Guaranteed financial security
• Helps in the creation of financial statements

Why do you require a VAT Consultant in Dubai?

Since VAT is a new concept in the region, it needs the assistance of experienced and skilled tax specialists to assist businesses in complying with the regulations throughout the early phases of its evolution. Many businesses are unaware of the necessity for VAT registration, as well as the laws and regulations governing VAT calculation and payment.

Having the assistance of a VAT Consultant will provide you with the following benefits:-

Provides for simple VAT registration and filing:

VAT experts can give clear assistance in the process of VAT registration and VAT filing since it is required for enterprises that exceed the threshold limit.

Records must be kept in good order:

A VAT professional can assist you in preparing files and maintaining necessary records to ensure that you are ready for a VAT audit. They can also offer professional financial guidance.

Help to reduce the risk:

A skilled VAT specialist has more industry experts and is better equipped to handle all types of company hazards. He can provide you with greater guidance on how to mitigate the risks related to VAT.

Minimize the time:

A skilled VAT specialist may save you time when it comes to auditing, valuing, and calculating the risks involved with your business.

No failures:

A professional VAT consultant's long-term knowledge and skill will ensure that your VAT return is error-free, saving you time and money.

Why BSD Prime for your Tax Consultancy Services in Dubai?

For many years, BSD Prime has been delivering experienced tax consultation services in the UAE to the corporate sector, completely satisfying the demands of its clients. We can help you deal more effectively with your company's tax structure.