TAX AGENT SERVICE
It is a proven fact, that efficiency of the company is greater when internal processes are streamlined, all the inputs work and concentrateon the core activities of the business, rather than indulging in non-core activities related to the business. It is also very hectic and time consuming for the companies to manage tax related issues with the concerned authority i.e. FTA, in-house. Therefore, it is an essential need for the companies to appoint subject matter expert to handle such tax related matters. And it will only result in gain for the company; few benefits of tax agent have been listed below.
• Maintenance of data or documents for 5 years is required by the company. Thus, hiring of a dedicated tax agent is a smart move, a business can take, since he will dedicatedly and professionally maintain the required documents.
• The concerned authority i.e. FTA, might ask for some documents in Arabic language apart from English. Tax agent can manage this,since they are proficient in both languages Arabic as well as English.
• The experience of tax agent is of utmost importance and life-saving, since they can represent the taxable person, when it comes to representing in front of the Federal Tax Authority and dealing with any assessment notice in the future.
• A dedicated and experienced tax agent keeps himself updated with all the latest changes and amendments in the law. So, when it comes to any compliance related to amended provisions, he definitely can advise.
• Tax agent, being a dedicated guide and advisor, has capability to usher through all the essential compliances or “Dos and Don’ts”. So, he contributes fully in the organization by planning the tax.
It is mentioned in the article 14 of the federal law no 7 of 2017, that soon a procedure for listing a tax agent in the register will be specified. After establishment of this procedure, our tax agents will be the registered tax agents in the UAE, and thereby, the services are probable to become more dedicated and effective. Our services is not limited to tax advisory only, rather it goes beyond, by including VAT implementation services and Tax consulting service etc.