It is one of those things that you will have to think about doing in the near future. If you haven’t begun looking for a proficient and reputable VAT consultant in Dubai, then you must start doing so as quickly as possible. There is a high probability that your efforts will help you find a consultant that will take into account your requirements and do things that every reputable consultant would do. In order to understand the role of a VAT consultant, we need to have a better understanding of their role. The first thing you should know is that this type of consultant will not only help collect and calculate the tax for the government, but he will also come in handy in other ways. If the consultant was only meant to calculate the tax for the government, then surely companies wouldn’t be looking to hire them. The implementation of VAT is good for the government as well as for companies that have become a part of the program. Since VAT is mandatory in Dubai, it is now obligatory for every company to participate in the program.
How does it work?
The value-added tax is calculated at different stages of the production of products, including the supply chain. The shipment and transportation costs may or may not be calculated, but that depends on the company. The overall percentage of the VAT is a little higher, with minimal at 5% going all the way to 20% in some cases. The percentage is not fixed, and some items don’t incur any VAT at all.
Is it welcomed by the masses?
There is no denying the fact that VAT is one of those taxes that people remain unaware of. There is plenty of literature available about the VAT, but for some reason, people show little interest in it. This is not a general attitude, and there are those who want to know more about it. Generally, it seems that people have accepted that they’ll have to pay the tax one way or another, and there isn’t much in it for them. This is something that governments should look into as customers must have reasons for putting their share to improve the overall earnings of the government, just as they pay taxes and get incentives in return. Look at here to learn more about the VAT, and why to hire a consultant at all. Start looking for your options now and ensure that you have a valuable professional at your service.