Whether you are new to doing business in the UAE or not, you surely know that there are rules to follow and laws to understand in order to operate your business as smoothly as possible without unnecessary interruption.
The Value Added Tax (VAT) is still relatively new in the country, and the government is forthcoming with an optimistic vision. The UAE Federal Tax Authority (FTA), in particular, is persistent in ensuring that regular updates are circulated to thousands of businesses through various channels and authorised FTA-appointed tax agencies. Yes, a Tax Agency.
What is a Tax Agency?
As stated in the UAE Federal Decree-Law on Value Added Tax, “A Tax Agency is a legal entity which is licensed to operate as a Tax Agency and has registered with the FTA as a Tax Agency.”
Consequently, a firm cannot register and operate as a Tax Agency without at least one FTA-accredited Tax Agent associated with the firm. This goes vice versa where, “a registered Tax Agent is required to be associated with a registered Tax Agency (usually an accounting, tax or law firm) before he/she is allowed to practice as a Tax Agent.”
What is a Tax Agent?
As defined by the UAE Federal Decree-Law, a Tax Agent is, “any person registered with the authority in the register, who is appointed on behalf of another person to represent him before the authority and assist him in the fulfilment of his tax obligations and the exercise of his associated tax rights.”
Now, you may ask, what are the functions of a Tax Agent and why do you need to work with one?
Tax Agents play a crucial role in the UAE taxation system. They are the only authorised professionals who can legally represent your business before the authority. They exist to provide you with in-depth tax-related assistance so your business stays compliant right from the outset.
To give you an idea, here are the published functions of a Tax Agent:
- Helping the businesses register with the FTA;
- Preparing and submitting tax returns to the FTA on behalf of the businesses;
- Maintaining tax-related records and/or information;
- Enquiring about tax-related matters with the FTA; and
- Submitting requests for reconsideration of decisions issued by the FTA.
When you are faced with legal implications as a business owner in the UAE, it’s normal to find yourself caught in the ambiguity of your situation. When this happens, you only have one obvious option—work with a Tax Agent of an approved Tax Agency in order to rectify your case.
So where can you find a Tax Agency in the UAE?
In the press release published by the FTA dated May 28th 2019, the authority has only accredited 357 Tax Agents in the UAE who have successfully met all the specific qualifications.
Thankfully, CREATIVE ZONE Tax & Accounting is an FTA-registered and approved Tax Agency in the UAE with Tax Agency Number (TAN): 30003529.
If you have set up your business through CREATIVE ZONE, you have definitely come to the right place to perform all your tax obligations with the help of our FTA-accredited Tax Agent.
Maintaining the highest level of standards
Tax agencies are guided by the law and are answerable to the authority. They are authorised for a reason and that is to help the government in keeping UAE-based businesses compliant with tax regulations.
By working with CREATIVE ZONE Tax & Accounting, you are eradicating risks and future hiccups down the line. It’s safe to say then that choosing a reputable and authorised firm like CREATIVE ZONE Tax & Accounting can safeguard your company, hence, ensuring maximum security of your business operations.
Our Tax Agent at CREATIVE ZONE Tax & Accounting embodies the Tax Agent Code of Ethics’ five standards: integrity, objectivity, professional competence, confidentiality, and professional behaviour.
About CREATIVE ZONE Tax & Accounting Tax Agent
Our Tax Agent, Mohamed Al Sayed, holds a high degree of training and accuracy in administrative, legal, and practical elements of tax. A former employee of FTA in the UAE, Mohamed has excelled in the GCC VAT Compliance Diploma from the Association of Taxation Technician.
Mohamed’s expertise in tax law contributes toward assisting the clients in public as well as private sectors. He ensures the tax compliance of our valued clients and is always one step ahead of the curve with the latest updates from the FTA. Currently, Mohamed is working as a dedicated Senior Tax and Accounting Advisor who can understand your requirements and tailor solutions for you, ensuring maximum compliance.
