You can argue all you like about not hiring VAT consultants in UAE but there will come a time when you will likely give up the argument and accept the truth. In this case, the truth is that that not VAT is a reality. You simply need to get your business become a part of the program and earn decent profits.
Though it may not be as easy as some of you may think but eventually the VAT program, despite its complexity, will likely pay you with something. Eventually, you will appreciate your decision of becoming a part of the VAT program and that will be the time when you will accept the truth that the government made a timely decision by introducing the program in UAE.
Perhaps the first problem you might confront will be about the tax itself and how it has remained a controversial thing around the world for so many years. Some taxation experts call it a form of regressive tax, which is a tax that doesn’t punish the wealthy. In other words, unlike how your ordinary tax works, the VAT is in fact doing the opposite. Since the tax is imposed on every stage of the manufacturing process and added as a whole on the final price, it is essentially increasing the price of products and making them unaffordable for the masses.
On the other hand, the advocates of VAT bring another viewpoint. They claim that this tax is essentially allowing the government to spend more on the welfare of the masses. Since government revenues are eventually aimed at bringing welfare to the public, and the VAT is essentially increasing the revenue, it is indirectly allowing the government to spend more on people than before. In the process, the businesses are also earning their share of the pie but that can be attributed as service charges at best. All in all, the enforcement of VAT is in fact bringing more benefits to the economy and in the longer run, once it is in full motion, we may see the UAE economy churning benefits out of it.
Role of audit firms
The audit firms are available in this city in abundance, and businesses don’t waste a moment in finding them. The fact is that audit firm is going to bring a lot of benefits not only to the business they work for, but also to the government and the masses. How so you might ask? Well, they’ll do so by ensuring that the money is not wasted and the revenues, taxes are all paid on time, the audit firms in Dubai airport free zone are essentially helping the business as well as the economy of the country.