UAE Approves First Batch Of Tax Agents

The Federal Tax Authority (FTA) has approved the first batch of registered tax agents, after meeting the required standards, conditions and qualifications, in addition to passing the authority’s tests.

Khalid Al Bustani, FTA director-general, said that agents are "key contributors to the successful implementation of the tax system in the UAE".

The agent may represent any entity or individual before the Authority, helping them meet their commitments and know their rights, state news agency WAM reported.

The registration of the first tax agents comes just weeks after the UAE launched value added tax (VAT).

Tax agents strengthen ties between the FTA and taxable individuals, he said, revealing that the authority is about to register a second batch.

They aim to help businesses achieve tax compliance, manage records, and avoid errors in registration and the filing of tax returns.

Younis Almulla, the first Emirati to become a tax agent, said: "Tax agents will play an important role in tax compliance, and as strategic partners for businesses, represent them in businesses entities and fulfil their tax obligations toward the authority, tax agents will provide a lot of services to business sector."

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.

RECENT NEWS

BNY Mellon Lands A Big Ally For Expansion In Saudi Arabia

NCB Capital is the kingdom's biggest asset manager and investment bank Read more

Coronavirus, Low Oil Prices Set To Speed Up Gulf Bank Mergers

Moody's Investors Service says financial concerns in the region will play a larger role in encouraging deals Read more

Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance

Subsidiary of the Abu Dhabi Investment Authority will buy a 1.2% stake in Reliance Retail Ventures Read more

How The Lebanese Private Sector Is Coping In The Eye Of A Storm

Businesses extremely pessimistic about future as layoffs continue and wages plummet Read more

Lebanese Pound: The Most Undervalued Currency In The World

As political and economy chaos ensues, leading analyst says exchange rate needs sorting 'as soon as possible' Read more

How Coronavirus Is Changing Banking For The Better

Redefining finance for good: Virtual CXO Forum to take place on October 7 Read more