Tax is a confusing term for many business owners. Hence, according to a study, most business owners who file the tax returns choose to use an accountant or tax agent services UAE. It is also noted that many companies would like to appoint tax representatives for increased accuracy, low stress, and maximum refunds. Tax agents are preferred as they are professionals and communicate better with the tax authorities to ensure the tax returns are technically correct.
What is tax agent services UAE?
Tax is an evolving field due to the advancements in technology, and the new clarifications will become an everlasting process. Since tax agents are trained experts in the field, they are better positioned to advise business owners about the tax.
Tax agent services UAE is a professional firm or any person registered with the Federal Tax Authority (FTA) in the register of tax agents. A tax agent is a person or an agency appointed to represent another person before the FTA and fulfil his tax obligations and the associated tax rights.
Following are the reasons on how business owners can benefit from the tax agent services UAE:
1. Avoid stress by appointing a tax agent
Agree that knowing to file your returns all by yourself is a good thing. But note that you are liable for the unintentional minor errors. You may have to deal with the FTA if they come knocking and pay hefty fines, penalties or interest that creates stress. But what if you have professional tax agents by your side? Half of your tension comes down with the presence of tax agent services UAE and makes it easier for you to focus on your business. A qualified tax representative ensures your tax returns are accurate and compliant with tax laws.
2. Communicates well with FTA
The common reason that an average person face is getting confused to answer correctly with FTA. They are:
- Communication barriers while talking to the tax authority
- Unable to clear the doubts in a call to tax helpline
- Confusion in getting a fine waived off or couldn’t understand the reason for a fine
- No clarity on tax laws
- Doubts in getting information on tax refund claims
- Answering queries received from tax authorities
3. Saves time
Though it seems that preparing tax returns yourself is a secured method, filing wrong returns can bring more danger than you expect. It isn’t easy to get clarity on exempted income, claimable expenses, and many other things which keeps changing. So, spending a few hours with your tax representative ensures filing tax returns with zero errors and saves a lot of your time.
4. Meeting deadlines
Many individuals tend to keep the tax filing to the last moment. But when it is due, they forget, don’t get time to return filing or some other reason. Also, they miss out on keeping track of deadlines and delays the returns filing that leads to penalties. But a tax agent always ensures deadlines are met without delays and updated with tax notifications issued by the tax authorities.
5. Speak in the language of law
Sometimes, a normal person finds it difficult to explain the issues to tax authorities and understand what they are saying. It is because a normal person can’t get a reference from the tax laws. However, a tax agent can communicate in the language of law with the authorities, and both can understand their viewpoints in a better manner.
Whether you have to file corporate tax or have queries regarding tax laws, hiring tax agent services UAE is a better option to avoid the possible uncertainties.