Understanding Tax for Social Media Influencers

 

    In the last few years, vloggers, online influencers, and bloggers have entered into a new industry. This industry is very lucrative, and more and more youths are showing interest in joining it. However, people who join the race of social media influencing hardly know that in the UAE, they will be taxed. If you are a social media influencer and not sure whether you should file a tax return or not, you can always contact a tax agent in Dubai and get your answers cleared.

Nevertheless, this blog will clear most of the things that might be bothering you about tax and social media influencers. One needs to understand that for many social media content creators is not just a hobby; it’s a full-time occupation, which is why they are taxable. Any service that an individual provides be it blogging, social media influencing, vlogging, and rest, if the individual is earning money out of it, that individual will be taxed.

Now that it is clear that social media influencers will be taxed, the next thing to know is how much will they be taxed? Here’s the good news for everyone, there isn’t any personal income tax associated with social media influencers, at least not in the UAE. However, the service that these social media influencers offer will be taxed under the standard rate of VAT, which is a value-added tax. 5% is the standard VAT rate in the UAE.

Since this industry is developing day by day in the UAE, it is better to speak to a tax consultant in Dubai and get help from them to declare the generated income. There’s another thing that you need to pay attention to. Since you will be generating income through personal branding, which is you, and if it is considered that you are running a business, you will have to register your brand for VAT with FTA.

Whether you are a full-time or part-time influencer, please remember that you will still be taxed. Let’s say you are working under a social media content creator, and you are getting paid for your service and helping the creator grow; you must report all your earnings. The VAT you will be paying will largely depend on the amount you earn through your work. Those whose annual threshold is AED 375,000 are qualified to register for VAT, and registering for VAT is, in fact, compulsory.

Certain things can help you lower the annual VAT bill. Some social media content creators can show the following as their expenses and reduce the overall VAT bill:

• Equipment that you have purchased for your work, such as phones, laptops, and cameras.
• You can show your broadband bills and phone bills as your expenses.
• If you had to travel to different places because of your work, that might come under expenses.
• Marketing costs can be included.
• And training courses as well as website expenditure, these two could be included as an expense as well.

The best way to learn how to reduce the VAT would be to get in touch with the right VAT services in Dubai provider and speak to them about this in detail.

 For more information regarding your Business Set-up/Tax/Audit/Accounting or other services please visit our

 website www.a-h-g.net or drop us an email on info@a-h-g.net .

We are one of the leading Audit company present in 4 countries and  Approved TAX Agent by the Federal Tax  Authority .

Moreover, we are  one of the very few Tax Agents who operates with Excise Tax and have a deep understanding for its needs which helps our clients comply with law requirements and Latest FTA Announcements.

Five Qualities You Should Search For While Searching For An Auditor in Dubai

 

When you are a resident of  Dubai, and you are searching for an auditor for your company, you need to search for a number of factors so that you can get the desired results from them. The article has gone through top factors that you should search for while hiring an auditor for your company. Before knowing those factors, let’s see about the auditors at a glance.

Who are auditors?

Auditors play an essential role in searching for discrepancies in the accounts. Besides that, they also help to know the fair and accurate opinion about the account of the firm to the owners. They check regular expenses and accounts of the company and find out the problems and correctness of it.

What qualities should be there while searching for an auditor in Dubai?

Good communication and reporting skills

When looking for audit services in Dubai, strong communication skills should be at the top of your list. An auditor should have the necessary skill sets to express his viewpoint on the organization’s issues. It is the auditor’s primary duty to communicate opinions, proposals, and recommendations during meetings and conferences. So, every time whenever you are searching for an auditor, make sure that they have practical communication skills so that they can freely communicate with you about your problems. You may have concerns and questions about the applicability of relevant regulations in various situations. The auditor should provide you with a thorough explanation of the answers to specific inquiries, as well as the reasoning behind their decisions.

Make sure they have professional experiences.

When you are hiring an auditor for your firm, you need to make sure that they have enough professional experience. While they will have enough expertise, they will deal with the problems that are present in the accounts. Ensure that they have enough expertise to help you out to find out the issues current in your reports. Non-experienced people will not be able to decide that where the actual problem is. On the other hand, experts will detect the problem and generate accurate solutions to fix the problem.

Sound knowledge of latest technology

When you are searching for help from the audit firms in Dubai, you need to make sure the auditors have sound knowledge about the latest technology so that they can detect the problems that are there using the latest technologies and they can find out minor and major issues that are present in the accounts. Besides that, auditors in Dubai are introducing future-ready technology for the audit process, including the latest smartphone apps, highly sophisticated data processing, visualization technologies, and innovative collaboration platforms. A tech-savvy auditor has more time to concentrate on his clients’ critical concerns and problems, such as audit areas that need further scrutiny. So, while hiring an auditor, you need to make sure that they have enough expertise in the latest technology.

Intelligent

When you are searching for an auditor by audit firms in Dubai UAE, you need to know if the candidate has emotional intelligence or not to know about the correctness of the difficult phases of your company’s accounts. So, make sure that they are intelligent enough to help you out.

Conclusion

Here are some of the top factors that you should search for while hiring an auditor; while you will search for all of the elements, you will be able to get the best auditor for your company, and they will always help you to know about the actual condition of the accounts of your business house.

 For more information regarding your Business Set-up/Tax/Audit/Accounting or other services please visit our

 website www.a-h-g.net or drop us an email on info@a-h-g.net .

We are one of the leading Audit company present in 4 countries and  Approved TAX Agent by the Federal Tax  Authority .

Moreover, we are  one of the very few Tax Agents who operates with Excise Tax and have a deep understanding for its needs which helps our clients comply with law requirements and Latest FTA Announcements.

How Someone Can Choose An Accounting Firm in Dubai

 

    Choosing an accounting firm in Dubai is definitely not a simple assignment particularly for CEOs or entrepreneurs. There are many variables out there that should have been contemplated while choosing any professional accounting service to handle your accounting-related tasks. `

Dubai has become a rewarding business place from being only an appealing traveler scene. They have developed to bring to the table business foundation and climate for new business arrangements. You can see more permissive government approaches and straightforwardness in the event that you start another business there.

It is not difficult to track down accounting companies in Dubai. But choosing the perfect and right alternative required heaps of things to check.

Before selecting any accounting companies in Dubai, start with an inside group to examine the organization’s bookkeeping framework. Have a conversation about essential focuses and illuminates explicit zones where improvement is required. This will give you a definite thought whether the group is equipped for dealing with the prerequisites; in any case, have a go at looking for any external accounting service provider.

Rundown of things you should have to open an accounting firm in Dubai

Dubai is seeing immense development and changes in the field of accounting and laws related to it. This is drawing in Indian accounting firms in Dubai and also other entrepreneurs from all across the globe. However, you must know about a few things that are compulsory for opening accounting firms in Dubai and find good chartered accountants in Dubai. Below is the list of those things.

1.      An appropriate degree in accounting

If you want to be a professional or an entrepreneur by setting up an accounting firm in Dubai, you should have a legitimate degree in bookkeeping or different subjects identified with it or record business. The certificate of the accounting degree will demonstrate that you to be a veritable accountant. The legitimateness of the degree will be cross-checked and discovered before you are announced qualified for beginning the accounting firm in Dubai.

2.      License at the professional level

If you want to open an accounting firm in Dubai the principal thing you should do is apply for an export permit for something very similar. This permit is given exclusively by the DED (Dubai Economic Department) in Dubai.

3.  Pace for setting up the firm

You should search for a space in the business regions as this will improve the odds of getting the number of customers that too without any problem. A client will feel more comfortable and guaranteed while managing in the event that you have an actual space of working. The certainty level of the clients goes up consequently. The best accounting firms in Dubai have legitimate arrangements and CPAs who are devoted to their work. You can likewise lease a space for your accounting firm start-up in Dubai. You also need a good chartered accountant for that you need a good chartered accounting firm in Dubai.

Process of opening an accounting firms in Dubai

A professional license is a must to open an accounting firm in Dubai. You will require submitting assorted grouped government structures, endorsements, confirmations, and other significant records. A new individual beginning an accounting firm will discover the cycle overpowering. Be that as it may, there are specialists for organization arrangement who helps at the beginning of the business and give one-stop answers for opening any kind of business in Dubai and the United Arab Emirates making the cycle a lot simpler and short.

Conclusion:

The best accounting firms in Dubai should help deal with the monetary parts of the customers and furthermore deal with their records. Hence if you want to gain the top spot as an accounting firm in Dubai you should serve your clients with a wide cluster of administration and accounting solutions. There should not be any issue identified with money that stays strange by you under any conditions. You should have the option to confront each time of crisis and emergency.