Tax Agent Service
Who is a Tax Agent
A tax agent is an individual registered with the Federal Tax Authority (FTA) in the UAE. Such a Registered Tax Agent in the UAE can enter into a contractual agreement to act on behalf of another person in complying with tax obligations of his business. Further, the tax agent in the UAE has the power to represent the taxable person before the Federal Tax Authority (FTA) for any tax-related matters.
Tax agent in the UAE helps businesses to represent themselves before tax authority in any tax-related matters. Such registered tax agents in the UAE can ensure that businesses are complying with their tax obligations.
1. Assists in Tax Assessments & Tax Representations
Filing of returns and payments does not end the tax duties of the tax agents. They can be of greater assistance during tax assessments and tax representations before the Federal tax authorities which are more complex by nature and require greater expertise. A tax agent in Dubai, U.A.E would assist and simplify all these formalities for the taxpayer, thereby easing his burden before the tax authorities.
2. Helps you save Time & Money
Engaging one in the tax affairs of the company involves a lot of time and effort. The duties and responsibilities are unlimited and include everything from VAT registration, VAT planning and VAT advisory to regular VAT compliance in Dubai, U.A.E. It becomes a time consuming and costly affair to dedicate resources and manage the tax affairs. Appointing a tax agent will not only save the time and cost but also offer additional advantages one would gain from his unique knowledge and expertise of dealing with various clients
3. Assists in Tax Implementation & Registration
New businesses and existing businesses getting registered for VAT in Dubai, U.A.E might lack the necessary knowledge and expertise on how to register, plan, and implement VAT in their daily operations. VAT implementation requires understanding the business transaction processes and the corresponding VAT implications. Once the VAT implications are successfully implemented by the tax agent across different business processes, it would make VAT compliance much easier.
4. Assists you in Filing your Returns Timely & Accurately
Filing returns with the Federal tax authority in Dubai U.A.E is a regular task and should be done on a timely basis and with great accuracy. Delay and inaccurate returns attract huge penalties from the Federal Tax Authority. A tax agent would plan and assist you in the filing of returns periodically and accurately.
5. Acts as a Long-Term Advisor
A tax agent can act as a long term advisor throughout multiple business transactions. They can advise you on any major changes in government policies, modifications in tax laws, tax-related updates, and other related clarifications.
The benefits of hiring a tax agent outweigh the costs. Hiring one for your company is the best choice you can make.
- VAT planning in UAE
- VAT advisory services
- Recommending VAT registration as a single entity or a tax group
- Applicability of reverse charge mechanism for Imports
- Guidance on Intra GCC trade
- VAT training and awareness to staff
VAT Compliance Services
- Ensure timely submission of VAT returns, reconciliation.
- Review of VAT records, returns & reconciliation.
- Providing advice on client’s clarifications and FTA notifications.
- Representing before the FTA for tax matters.
- Review and customization of source documents.
For proper monitoring of account books and other records, the role of a tax agent becomes important. A tax agent would assist a businessman in complying with their taxable obligations in a timely manner. Every taxable person should maintain books of accounts and records for a minimum period of 5 years.