How to Choose the Right Corporate Tax Consultant in Dubai?

As corporate tax takes effect, businesses are rushing to find corporate tax consultants in Dubai to complete registrations before the allotted deadlines. As we know, it is necessary to follow the set regulations and deadlines; failure to do so can result in you paying hefty fines. With that being said it is equally important to choose the right corporate tax consultant as this hugely impacts your ability to fulfill your tax-related obligations. The tax consultant you choose can be the difference between you fulfilling your responsibilities and falling short. Let us explore the key factors to consider when choosing the right corporate tax consultancy services in Dubai.

1.Certifications and Licenses

A key factor to be taken into consideration is the expertise of the professionals at the tax firm you are considering. In a domain like taxation, mistakes and delays can prove to be costly, and it is highly necessary for the professionals who are at the helm of your affairs, to possess the necessary experience and qualifications. It is important to remember that corporate tax is fairly new to the UAE, and it can be tricky, even for professionals to navigate the laws and regulations around it.

Check Out: VAT Consultancy Services in Dubai

2. Reputation

Since the introduction of corporate tax, the number of firms offering tax and accounting services in the market has gone up. Naturally, top-notch services cannot be expected from each and every one of these firms. It is necessary to verify the reputation of the service provider. One of the easy ways to do this is simply checking out the websites and reviews of the business. Needless to say, choose a service provider that has already garnered a respectable number of positive reviews. You can also opt for a consultant you heard about through positive word-of-mouth. There is also the aspect of security that you need to take into account. As you are likely to divulge some confidential information related to your taxes and accounts, verifying the service provider’s reputation becomes even more important.

3. Comprehensive Services

It is always advisable to seek all-round services when it comes to corporate tax in the UAE. A service provider merely offering corporate tax registration services should not be your choice. This is primarily because, besides registration, your obligations will also include tax return filings and payments. By availing consultancy in all areas of corporate tax, you can stay on top of your tax obligations, ensure compliance, and avoid hefty penalties.

Check Out: Accounting and Bookkeeping Services in Dubai

4. Experience with Diverse Industries

Every industry is different, and so is every business within it. These varying business models bring along their own challenges for tax and accounting professionals. With every business having its unique challenges, it is necessary to have a customized accounting approach. Hence, it is necessary to verify if the consultant you chose has prior experience with a business of your nature. The accounting firm may collect your advance payment and initiate the work. However, by the time you realize that your tax consultant lacks experience, it may be too late, resulting in a costly commitment.

5. Costs

Last, but not least. As you search the market, you will find many consultants giving you highly unreasonable quotes. You can only determine the ideal price for tax services in the UAE after receiving quotes from multiple consultants. If you have been offered a package, make sure you are aware of the services included within the package. Also, it’s imperative to carefully read the terms and conditions before engaging with the service, to avoid any surprise costs coming up in the future. The ideal tax consultant will always ensure transparency when it comes to pricing.

Hope you have now received enough clarity on what to look for when choosing a corporate tax consultant in Dubai. Let us reiterate that corporate tax compliance is of utmost importance for any business in Dubai, and is key to ensuring that you don’t lose sleep over tax penalties. With InZone, you can secure comprehensive corporate tax consultancy services in Dubai along with a host of other accounting and corporate services. Get in touch with us today and have your requirements sorted.