Filing of VAT returns is extremely important for a business entity in the UAE. It is one of the must-do activities that businesses cannot simply afford to miss in the land. The VAT return is an official document pertaining to VAT or Value-Added Tax that is to be submitted with the Federal Tax Authority. As per taxation laws in UAE, the VAT return has to be submitted every quarter by registered business enterprises and taxable persons and that too before the due date.
Typically the VAT return document would explicitly display the tax due output and the tax recoverable input and the net VAT applicable. As per the existing laws, the document can be filed by a taxable person or a person appointed or authorized by the taxable person. This means that valid and registered Legal agents or Tax representatives can also file the VAT return on your behalf. Since it is legal to hire the services of an authorised tax agent, is it not better to go ahead with a firm that offers VAT return services at affordable prices and also has the know-how to compile relevant documents and information for VAT return filing as per the VAT laws of UAE?
Benefits of Hiring a VAT Return Service Provider
- The biggest benefit of outsourcing vat return services to an experienced service provider is that your business can take advantage of the knowledge base of the service provider. Since providing assistance with VAT return is their core area of work and specialization, they would be informed thoroughly about the latest laws pertaining to VAT and filing returns. Trying to file the returns on your own or using the services of an inexperienced service provider means risking a lot due to lack of requisite information and hands-on experience.
- The second benefit of outsourcing the work to an authorized person is that it will help save your time and effort which you can utilize to grow your business. Let people who specialize in VAT return services do the return compilation and filing on your behalf while you focus on your core areas of work.
- Another advantage is that these representatives are well aware of the due dates and other required guidelines for VAT return submission. Hence they will work in a way – either visit your office physically or work remotely – that the deadlines are always met and the correct documents and supporting are submitted thereby preventing you from paying hefty penalties and fines that you would have to incur in case you were to file the returns on your own without proper knowledge about the complex process of VAT return filing.
All in all, it is a win-win situation when you entrust the work of VAT return filing to an experienced and qualified professional offering affordable and comprehensive VAT return services. The leading service providers or VAT agents would have a robust setup equipped with the latest and advanced hardware and software to support multiple clients with their VAT return filings. They would ensure faster and systematic processes and procedures to compile and file the returns on time while validating the records and data provided by the business entities for compliance with the rules of the Federal Tax Authority. Professional VAT return service providers ensure that their clients are always kept up-to-date on the status of the return filing through extensive reports and customized formats.
The biggest plus point is that it is a cost-effective method of having your VAT returns filed on time. The best in the business would but obviously hire thoroughly qualified taxation specialists and accountants to do the work – affording such experts on the payroll may not be practically possible for all kinds of business entities.