There are so many aspects that a business has we need to take care of. One such important and crucial part of a business is the tax in different spheres. With the advent of taxation in different spheres of business in the UAE, a need for tax consultants has come up suddenly. The foundation of these agents/consultants regarding corporate or business tax is remarkable. Hence it becomes a lot easier for the businesses to get represented in front of the tax department by these professionals. It is high time now to switch to professionalism and get yourself a brilliant tax agent for the ease of handling this financial aspect.
Tax agents in UAE are the right professionals
The professional tax consultants and agents, who are recognized by the Federal Tax Authority (FTA), will be the ideal ones to be hired to represent you and your company. These professionals have passed an examination held by this authority in the UAE to recognize only the eligible tax agents. In fact, they comply with the rest of the criteria to fit into the description as corporate and professional tax agents.
Apart from the eligibility, the tax agents in UAE are highly experienced to handle the different dimensions of business tax for diverse genres of industries. In fact, the definition of a tax agent as per the Federal Law No. 7, 2017, depicts:
‘A professional registered and recognized by the Authority in the Register, appointed to represent another person for handling the responsibilities or fulfillment of the latter person’s tax obligations and exercises tax rights is coined as a tax agent.
A tax agent in KSA will be responsible for representing his employer in front of the FTA and perform his duties. He will also remind the specific obligations his clients have to pay attention to avoid penalties and help them to enjoy the rights as well.
Responsibilities handled by a tax agent
There are new clauses and regulations amended by the FTA in UAE. The changes and upgrades in the law might not be the cup of tea of professional businessmen. This is where the tax agents can be hired to find a way to handle all the financial legalities and meet with the tax requirements of a business. Here is what UAE tax agents do for their clients.
- Assurance to meet tax responsibilities
The tax agent employed or hired by a client will be responsible to showcase or highlight the
responsibilities (as per FTA law) that his client must pay attention to. The obligations must be
met to avoid any tax-related hassles in the later years.
- Preserving privacy
Tax information is absolutely classified. The privacy of a taxable entity (professional or business) should be maintained in the open forum. The agent will help the taxable entities to preserve their decorum and privacy throughout his tenure.
- Maintaining integrity
The tax agents are also bound to act when any unlawful proposal is forwarded. By law, they cannot support any misleading act or plan that might hurt the integrity of the country. He should not violate any amended law and also stop his clients from practising so to avoid any legal tension. Any unlawful activity will not be encouraged by the tax agent rather stopped from proceeding in the future.
- Comply with the information provision
The tax agent will provide specific information as per the new VAT Law. It will contain documents, records, and information mentioned by Article 15 of Part 2, Chapter 3 in the newly amended law as per the government’s request.
- Educating clients
This is another part of the job profile of a tax agent. BY definition, a tax agent will educate his clients regarding the new changes and amendments in the law designed by the FTA. In fact, he will also make his clients understand what a particular clause in the law stands for so that its importance can be implemented into the business.
Tax consultants: Valuable assistance
As mentioned earlier, when you are willing to hire a tax agent for the company’s benefit, consider the FTA certification and experience gathered by the agent or a consulting agency before jumping into a conclusion. As per the expert tax agents, always check on the domain where an agent has previously worked on. This will help you to find out the ideal profile befitting your needs. It is now easy to discover and appoint the best FTA registered tax agents in UAE. Seek consultation and figure out how professional a tax consulting agency is. Find out how much dedication they show when you ask a question and seek education regarding a particular case.
Hire a tax agent to handle your tax
Hire a VAT consultant in UAE to handle tax affairs and represent your business professionally in front of the FTA.