Who is a Tax Agent as Federal Tax Authority of UAE ?
A registered (with FTA) tax agent in Dubai, acts as a mediator between Federal Tax Authority and taxable persons. A tax agent is appointed by any taxable person to represent him before the Federal tax authority. A tax agent holds client’s tax obligations and performs various legal activities prescribed by the law.
What services do they offer ?
- Achieving tax compliance
- Carrying out legal activities
- Managing records
- Preparing and Filing VAT return
- Dealing with FTA post Penalization
- VAT return Filing
- Retaining books of accounts
What are the Duties of a FTA certified Tax Agent ?
- Preparing tax payments
- Estimating and tracking tax returns
- Completing regular (quarterly and annual) tax reports
- Organize and update the company’s tax database
- Recommend tax strategies that align with business as well as personal goals
- Prepare necessary paperwork for tax payments and returns
- Share financial data with the accounting department
Who can appoint a Tax Agent?
Any taxable person in Dubai has the right of appointing a Tax Agent to handle their tax affairs with FTA. The responsibility of the taxable person in relation to the authority will remain even after appointing a Tax Agent.
What are the Conditions for working as a Tax Agent in Dubai ?
Any individual who is looking to be a tax agent needs to meet few conditions as per Article 14, Part 2, Chapter 3 of the Law.
Below is a list of what they require for an individual to meet is as follows: The individual
- Should have practical experience of three years in taxation, accounting, or the law.
- Needs to be fluent in Arabic and English.
- Needs to have a Bachelor’s or Master’s degree in tax, accounting, or the law.
- Needs to take the FTA tests and pass them.
- Needs to be physically fit for them to be able to perform the tasks needed to be done.
- Also needs to hold professional indemnity insurance.
- Needs to have good records in terms of conduct, without any stains of crime or misdemeanour in the record.