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Role of a Tax Agent in Dubai UAE

A tax agent can handle all the tax affairs of a company, whilst the business owner and key management employees can focus on other important duties. The Federal Law No (7) of 2017 on tax procedures specifies the appointment of a tax agent in Dubai, U.A.E to represent taxable persons before the Federal tax authority (FTA) with regards to his tax affairs and taxable obligations.

The role of a tax agent in Dubai, U.A.E is as below:

1. Helps you save time and money

Engaging oneself in the tax affairs of the company involves a lot of time and efforts. 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 time and cost but also offer additional advantages one would gain from his unique knowledge and expertise.

2. Assists in tax implementation and registration in Dubai, U.A.E

New business and existing business 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.

3. Assists you in filing your returns timely and 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.

4. 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.

5. Assists in tax assessments and 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.

The benefits from hiring a tax agent outweigh the costs. Hiring one for your company is the best choice you can make.

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