Before analyzing the role of a tax advisory firm let us examine who is a tax advisor, and what does the advisory firm do for an organization?
A tax advisory firms is an expertise firm which can make sure that your business runs smoothly with complying all rules and regulations published by the federal tax authority which helps you to secure your business in term of legal compliances and financial performance of the company.
A well proficient tax advisor always tries to communicate to the clients with respect to the influence of tax law amendments and publications on public clarifications. Moreover, advisor always makes an effort to foresee the future of its clients by evaluating future changes to the business environment and their impact to the client’s business. Guiding them at the time of framing plans and policies of the organizations to reduce the tax liabilities and compliances by advising them to choose an appropriate tax payment method, the responsibility of the tax advisor is appreciable.
The tax advisor is one of the core parts of any organization who assists to bring out the revenue policies of the tax authorities and safeguard the lapses of the organization concerning the taxes. An organization faces severe problems if they don’t consult a tax advisor before the payment of taxes, such as Value Added Tax (VAT), Exercise Tax etc.
However, an organization with an expertize tax advisor can provide tax solutions more efficiently and scientifically as advisor has better knowledge and experience in complying the tax Laws & regulations in UAE. A tax advisor’s priorities include not only tax compliance, but extend to save on taxation.
The tax advisor always analyses the tax records and makes sure that the remittance of tax is timely made to avoid fines. Tax advisor must also make sure that the client is registered for relevant Taxes within given time frame by Federal Tax Authority in UAE, once they achieved or expected to be achieved the provided threshold by laws & regulations.
An organization must choose its tax advisor by evaluating the needs of the organization and making the advisor realize it. Tax advisor must be provided with required authority and accurate details of the organization to carry out work. I.e. analyzing the tax payments and returns. Correspondingly, the advisor should work efficiently and effectively according to the company’s requirement. Also, advisor must bring suitable changes in the taxation methods that may improve the financial position. Tax advisor must be well aware of the upgrades in tax laws & regulations and also advice for overcoming the changes. Advisor works would be completed within the allotted time. A tax advisor must be able to provide a personalized service to the clients by studying them and knowing their needs, focusing on the growth of the business.
Crevaty tax consultancy is a well-organized tax Consultancy firm in UAE that systematically deals with its clients in a trustworthy manner and tries to eliminate the risk, cost and penalties. The company has well trained and experienced professionals who handle the tax matters in a meticulous way and diagnose every threat to terminate it. Furthermore, the company frequently supervises the records of their clients, the policies to make changes as per the regulation updates. The main intention of the company is to provide a personalized service to its clients with a professionalized and well-experienced team.