Tax and its kinds
Taxes are an essential part of any nation and its economy. While Dubai was tax free for a long time with double tax treaties among UAE and different countries it was also regarded as a hub of commerce friendly businesses as it let the citizens expand their businesses while the oil and gas operating businesses and industries paid the maximum amount of tax.
But recently a new VAT – Value added tax was introduced which meant that 5% of VAT will be applied to transactions throughout the value chain. Now Dubai was famous because of its no tax policy thus it has made VAT consultants in Dubai question that if Dubai will be the same as it was earlier before the VAT policy.
Accounting companies in Dubai provide several kinds of services such as Direct Tax and Value added tax. Direct Tax services may include filing of tax return and managing tax liability while keeping the laws of UAE under consideration. On the other hand, a Value Added Tax service’s first and foremost job and duty would be to registration with higher authorities, representing references and appeals all the while assisting with sales tax compliance for the better understanding of duties and responsibilities which are being fulfilled by tax consultants on behalf of the said organization, firm or business.
Service tax is also an important and essential kind of tax which is applicable to any kind of business who provides services, irrespective of their field, service tax will be applicable.
Research, registration, calculation and then minimizing the cost of service taxes are all the services and responsibility of a tax consultant or a tax consultant agency.
Tax advisors prove to be highly beneficial for all those businesses who are striving to achieve the betterment of their business and trying to double their profits – nothing should come in between these goals and aims and this is what tax consultant agents should make sure. Their part time presence and new innovative technology can help you in ways unimaginable.
Tax paying is important and no one can run away from it. Taxes prove to be beneficial for development and economy of a nation as it is because of taxes only that the government services are working finley providing every necessity to its citizens.