[caption id="attachment_654" align="aligncenter" width="1200"]Alwahda - Tax Consultancy | Best Tax Consultancy/Company In UAE (Dubai, Sharjah & Abu Dhabi) Alwahda - Tax Consultancy | Best Tax Consultancy/Company In UAE Dubai, Sharjah & Abu Dhabi[/caption]

About The Tax Consultancy Service

Alwahda-Tax Consultancy | Best tax consultancy/company in UAE Dubai, Sharjah & Abu Dhabi Established in 2017 specialized in the taxation field. Best Tax Consultancy/Company In UAE (Dubai, Sharjah, Abu Dhabi). It is no secret that our tax system is far from perfect. And for an ordinary citizen to understand all its nuances, subtleties, and constant changes is very problematic. In such a situation, consultation on taxes from a specialist will be the right decision. It includes a range of services − from record-keeping to representing the client in court. Any small or large business that carries out commercial activities can experience the difficulties of maintaining tax records over time. A qualified lawyer can avoid these problems, correct all errors and shortcomings, save the company from penalties and even challenge the conclusion of the tax office. It is important to use his services in time. Advice on taxes will help not only to draw up documentation in accordance with all the rules, according to the law, but also to get out of any unpleasant tax "alteration" with minimal losses. The main thing is to choose the right reliable company that has permission to conduct such activities and provides professional legal services, where qualified specialists work. And then you are not afraid of any tax inspections.

How to choose the best tax consultant to support the transaction?

4 important factors when choosing the best tax consultancy for a company Choosing a tax consultant or consultancy to support a transaction is a responsible task. Poor service can cost a lot to the buyer of the business: undetected historical tax risks of the investee may lead to the need for significant unplanned payments after the transaction and even cast doubt on its feasibility. What qualities of a tax consultant are most important to conduct tax due diligence in a quality and timely manner? The four critical characteristics are as follows.

1) Professional And Involved Team

When conducting tax due diligence, the personnel decides everything: the consulting firm must have a highly professional team that is 100% involved in the project. Tax support of a transaction requires special technical knowledge, therefore, the consulting firm should have a partner or director who is mainly engaged in tax support of transactions, as well as tax consultants with experience in participating in tax due diligence projects. Employees must be highly qualified specialists, and the consulting firm must have a systematic approach to their professional training and regular professional development. Since it is critical for tax due diligence projects to provide services on time, the team should participate in full force and its involvement in the project should be maximum. Moreover, the size of the team must be sufficient to carry out the agreed scope of procedures. TIP: After receiving a commercial offer, be sure to meet with representatives of the consulting firm and get to know the managers of the project team, and not just with its leader; make sure that the specialists declared in the commercial offer are employees of the consultancy.

2) Current Industrial Experience

To identify the historical tax risks of an investee, the understanding of the tax consultant of its business model, as well as knowledge of the so-called “industrial” tax risks, that is, the tax risks that all companies operating in a particular industry face, is of key importance. Such knowledge cannot be obtained by reading professional publications or regulations, so the company must have a history of successfully implementing projects for clients operating in the same industry as the investee and for those tax periods for which verification is needed. The project team must constantly practice and “sharpen their machete” by receiving feedback from discerning clients. At the same time, the number of projects that the team does over the past year or two matters. So, if a company does less than five projects a year and does not have experience working with large players and (or) private equity funds, then tax due diligence is most likely an atypical and, therefore, a project that requires more time and effort for the team. This, in turn, can lead to insufficient quality of service and (or) delay of the project. ADVICE: pay special attention to the experience of carrying out similar projects, indicated by the consulting firm in the commercial offer; make sure that the team declared to carry out your project took part in them; at the meeting, ask to tell in detail about the latest projects and industrial experience of the team declared in the proposal.

3) Reactivity, Correct Internal Processes And Infrastructure

Since the time for tax due diligence is strictly limited, the quick response of the project team is of great importance: the ability to quickly process large amounts of information and work overtime in case the disclosure of information did not go according to plan. To successfully cope with such challenges, the consulting firm must fine-tune the process of conducting tax due diligence, including the approach to collecting, processing, and checking the consistency of the information received, as well as build effective communications between team members. In other words, the consulting firm must have properly built internal processes that ensure high-quality work within the tight time frame set for the project. Tax due diligence projects differ significantly from current tax consulting projects both in terms of the methodology and format of the consulting firm's report. Accordingly, the availability of a methodology for a consulting firm (including an approach to summarizing and analyzing information, identifying and assessing historical tax risks), as well as internal standards for writing a report, is a guarantee of high-quality work. In addition, a consulting firm must take seriously the quality control and risk management system, in other words, have a developed internal infrastructure, which is a guarantor of the provision of services of stable quality. The internal infrastructure, in particular, includes the existence of formalized procedures for assessing the risk of the project and the client, conducting a mandatory review report by a partner (director), as well as systematic spot checks of the quality of reports by independent auditors. ADVICE: ask the consulting firm to promptly provide a sample report on one of the completed tax due diligence projects (without specifying confidential information), as well as a template for a non-disclosure agreement and a standard service agreement. If these documents are of high quality and provided promptly, this is a good sign.

4) Relevant Scope Of Research And Transparent Pricing

The volume of procedures carried out in the course of tax due diligence can be determined by the customer (as a rule, serial investors and private equity funds do this) or by the consulting firm. In the latter case, the consulting firm must obtain information about the investee to focus on potential areas of risk. In particular, the composition of tax due diligence procedures is affected by the business model and industry affiliation of the investment object, the presence of separate divisions, significant benefits, and non-core activities. A well-formulated composition of tax due diligence procedures should take into account the specifics of the investment object and determine the areas of verification to identify industrial risks. The cost of tax due diligence services depends on the labor costs of the consulting firm’s team, which in turn are determined by several factors, which include the number of companies that are the subject of the study, the scale of their activities (the number and complexity of business operations, the number of assets, income and expenses), the scope of the tax due diligence procedures agreed upon, and the format of the consultant's report (summary or detailed report). Accordingly, to realistically assess labor costs and offer a competitive price, the consulting firm at the stage of preparing a commercial proposal should have as complete information as possible about the investment object. And if the consulting firm is not interested in such information, the cost of its services may be overpriced, TIP: solicit quotations from several consulting firms to get an idea of ​​the price; if possible, disclose to applicants more details about the investment object and the planned transaction to prepare a commercial offer; when discussing commercial proposals, ask bidders to indicate the expected risk areas of the investee.

Best Tax Consultancy/Company In Sharjah UAE

Alwahda Best Tax Consultancy/Company - Our tax consultancy practice is the largest and best in UAE and employs Arabs and foreign specialists.

About Us - Alwahda Tax Consultancy

We are the best Tax consulting company or firm in UAE We offer practical tax solutions and services based on the extensive knowledge and experience of our consultants, as well as methodologies developed by us. The structure of the practice takes into account various aspects of taxation and law, thus allowing the development of individual specializations. To carry out work on each project, we quickly form a team of consultants who have the necessary skills in the field of taxation and law, as well as have relevant industry knowledge. Thanks to this, we understand our customers well and can not only help them solve particular problems, but give comprehensive recommendations based on an understanding of the situation as a whole.     [caption id="attachment_654" align="aligncenter" width="802"]Best Tax Consultancy/Company In UAE (Dubai, Sharjah & Abu Dhabi) Best Tax Consultancy/Company In UAE (Dubai, Sharjah & Abu Dhabi)[/caption]  

Tax Advice

Alwahda Best Tax Consultancy is a professional company or firm specializing in tax consulting and tax compliance services. We help companies minimize risk and save money. We will be happy to help optimize tax payments and are always ready to advise on tax issues in UAE.

Tax audits

  • We advise and represent companies during tax audits and other types of tax audits.
  • We help to identify and eliminate errors in reporting and tax accounting and reduce the risks of penalties and liability.

Tax disputes

We assist and advise companies in cases of tax disputes and disagreements with the tax authorities, for example, in the presence of unfounded tax claims.

Tax refund

  • We help organizations identify overpaid taxes and receive refunds or tax credits.
  • We protect the interests of taxpayers in disputes on the reimbursement of VAT and other taxes.

VAT on e-services

  • We check whether a foreign company needs to be registered.
  • We help to collect all the documents and get registered.
  • We provide reporting and provide explanations to government agencies, if necessary.

Tax planning and optimization

We provide the best tax consultancy or consulting services to companies with tax optimization and tax planning, structuring investments and mergers and acquisitions, as well as cross-border transactions for international companies.

Tax accounting and preparation of documents

We provide documents to the tax authorities, we carry out the tax registration of companies and the filing of personal tax returns.

Extensive experience and leadership

Alwahda Best Tax Consultancy - The First and Best Tax Consultancy In UAE (Dubai, Sharjah, & Abu Dhabi) was established in 2017 to be one of the first companies in the Sharjah, UAE specialized in the field of taxation. Having successfully worked with the UAE tax system since 2017, our accountants have accumulated extensive practical experience in working with the tax authorities, which, combined with the fundamental knowledge of the law of our tax lawyers, allows us to consider our tax consulting services among the best on the market. We are in the TOP-10 Tax, Accounting, and Financial Consulting Companies in UAE. We are serving across all the Emirates in UAE and GULF.