It is common for individuals and companies to avoid hiring the services of public accountants , however we must say that the complexity of the laws established by the United Arab Emirates tax system are complex and cumbersome enough to hire the services of these specialists. In addition, specialists in accounting and financial advice have the ability to provide information to the management levels of a company or to an individual that allows them to form a financial plan so that they have the possibility of building a wealth.
Although it is true that currently there are accounting software that has the ability to calculate the taxes that must be paid to the SAT (Tax Administration System), the reality is that this type of software does not have the ability to interpret the established laws by this body, especially due to the fact that only a few months ago various updates were implemented that complicate the understanding of tax laws, which makes practically a primary need to have the advice of an accountant.
Failure to comply with tax laws can not only have legal consequences for the company, but it can also have economic consequences for the company that, in the worst case, can lead to bankruptcy. For all of the above, the advice of a specialized accountant becomes essential for individuals and companies, that is, a professional who is in charge of maintaining order in accounting records, properly handling invoices, calculating taxes, etc. interpreting tax laws and many other aspects that are complicated tasks but that accountants know how to do because they have studied for this. For this reason, in this new blog post for Public Accountants, we will explain more about the importance of hiring the service of an accounting firm as well as some characteristics of the services offered by these specialists. We hope that the following information will be of great use to you and that it will allow you to clarify any doubts you may have in this regard.
The accounting and Corporate Finance Services in Dubai has the general objective of helping individuals or companies to make the correct decisions regarding their finances and to ensure that all tax returns are made within the corresponding times and forms. These experts have even facilitated the presentation and management of tax returns in the new digital platforms of the SAT, which is a very important element, since it is quite obvious that most people do not have sufficient knowledge in matters of tax laws and in the management of software that have been established for electronic invoicing. In this sense,
As we have mentioned in other articles for our blog, there are many factors that influence the completion of tax returns that all taxpayers must perform properly. From the proper fulfillment of the annual returns within the times and with the corresponding requirements, to differentiating which invoices can be deductible and which ones do not fall within the tax regime that is being recorded, tax operations are very complex, and therefore it is It is necessary to resort to the work of accountants, who have the most appropriate knowledge, knowledge that has taken them many years to acquire. In addition, we must say that it is always very difficult to find information on the internet that helps people make their tax returns.
If this process is not done properly, the consequences can lead to a case where the taxpayer has to pay a lot of taxes because not all the deductible invoices were entered; In addition, it may happen that taxpayers have to make payments on their annual return that are very high, there have even been cases in which taxpayers are in non-compliance with their tax responsibilities. In this sense, the hiring of public accountants professionals is very important, especially because hiring a professional will allow them to avoid high costs, since the professional has the ability to establish working relationships with individuals or legal entities to distribute the work throughout the year and avoid the deadline established by the SAT is fulfilled and you have not made the tax returns.
In this sense, small and medium-sized companies are those who have the greatest obligations to hire the services of a professional, since it is really essential for the proper functioning of the company and its growth in the future that it be kept up-to-date at all times. of your tax obligations, eliminating the risk of an audit caused by some mistake. Likewise, the services offered by the experts of the accounting firms allow companies to have the necessary documentation in order by the time an audit is presented by the tax authorities. That is why we, the experts at Public Accountants We recommend that you do not take hiring professionals like us lightly, as this can avoid serious consequences.
We have specialists in accounting and financial advice, trained to handle the accounting of both individuals and legal entities; we also offer auditing and advisory services to analyze and manage each particular situation of our clients and thus contribute with the improvement of the profitability of finances. So if you want to know more about our public accountants, we invite you to contact our phones, where our advisors will assist you and provide you with the necessary information.
