About a third of the Dubai population hires tax agents to file their tax returns. However, only a few of these people know about who these tax agents are. People know that they can help them in filing their tax returns, but other than that, more than 80% of the people never ask who they are, whether they are experienced in filing a tax return, and similar questions like that.
Finding the right tax agent in Dubai is paramount, mainly because a tiny mistake can lead to fines and penalties. It is surprising that more than 75% of the people who hire a tax agent in Dubai never even ask if they will get represented in a tax audit. That’s quite interesting because when someone hires a tax agent, they share almost everything with that agent, starting from their income to their bank accounts.
It is time to take tax agents’ credentials seriously and find the right one; here are some tips that will help you.
Tip No. 1: Look into the Tax Agent’s Expertise and Experience
UAE tax is complicated, just like any other country, and that’s why it is prudent to hire an experienced tax agent in Dubai who is acquainted with UAE tax and is well-versed with it. You will undoubtedly come along with many smart tax advisors; however, before selecting a good tax agent, one needs to prioritize experience. Having an experienced and well-regulated tax agent will be beneficial for the person hiring the tax agent.
Tip No. 2: Choose Someone Who Works Daily
One may face tax-related issues any time and any day. This is the reason why choosing someone who does tax-related work throughout the year will be more beneficial. This way, you won’t have to worry about the non-availability of the tax agent in Dubai. The tax agent will go through your present financial status, study it properly, and start preparing the report. Please keep in mind that no tax agent will be able to tell you the estimated savings in the beginning.
Tip No. 3: Look at the Licence of the Tax Agent
Whenever you have to hire a tax agent in Dubai, always make sure to hire someone who has a legitimate and valid license from a council or government. No matter which tax agent you hire, since they will go through your financial record and everything, it is crucial to ask for a valid license before hiring that tax agent. This will save you from fraud since fraudulent tax agents are available in huge numbers.
Tip No. 4: Hire Someone Who has the Best Interest of your Business
A tax agent must be someone who has the best interest of your business in the heart. The moment a tax agent meets you, that agent should be ready with his license and must be present with all his previous work. Choose someone who asks you questions while preparing the tax report and not someone who keeps on waiting for your answers. The tax agent needs to be prompt.
Tip No. 5: Always Compare Fees
Last but not least, talk to a few tax agents, and get all the required information. Once done, take some time to compare the prices of each agent. The tax agent should not be way too cheap or way too expensive. Someone who offers an affordable price but has a good amount of experience and a valid license is the one you should go for.
These are some tips that will help you find the right tax agent. Follow them, and you will find a good tax agent in Dubai.