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

Investcorp exits RESA Power In Sale To Kohlberg, Marking First Exit For North American PE Fund

Investcorp aims to replicate RESA’s success globally across its private equity business Read more

Gate Group Secures Dubai VARA License

Gate Group’s Dubai arm is accelerating the expansion of its local team as it prepares for its official launch Read more

UAE Announces New Tax Rule

The UAE has announced a new waiver for tax fines in the country Read more

First Abu Dhabi Bank Powers Ahead With Record Q1 Numbers

Total income up 11 per cent to $2.4bn as net profit rises 23% to $1.4bn and profit before tax reaches $1.67bn; Total as... Read more

UAE To Launch Dirham-backed Stablecoin

Dirham-backed stablecoin launched in the UAE will enable simple digital payments Read more