The first half of 2019 saw the quantity of approved Tax Agents increment by more than 110% to surpass 370 Agents, up from 176 before the finish of 2018, affirmed the Federal Tax Authority (FTA) as it facilitated the second Meeting of Tax Agents.
The Authority noted that the development in the quantity of approved Agents gives a more extensive exhibit of choices for Taxable Persons who manage to deal with the Authority by means of an Agent, where they can choose from a long and constantly updated list of enlisted Agents. This, in turn, promotes self-compliance among businesses as it offers them guidance and backing support to carry out their assessment commitments.
FTA Director General His Excellency Khalid Ali Al Bustani inaugurated the gathering, which was attended by all 370 Tax Agents. The FTA had sorted the meeting as part of its plan to keep up continuous communication with its strategic partners, as well as to introduce its development plans, and offer a stage to investigate opinions and proposals for urging Taxable Persons to self-comply.
H.E. Al Bustani approached Tax Agents to tolerate, in all their exchanges, by the expert standards set by the Authority, which cling to high global guidelines.
“These periodic gatherings truly embody the successful collaboration between government entities and the private sector, who work together for the noteworthy benefit and elevating the national economy,” H.E. said, underlining the significant role that Tax Agents play in the success of the tax system. “This profession requires advanced academic requirements and extensive experience. Tax Agents registered with the Authority are enlisted by an individual or entity to represent them with the FTA and help them satisfy their obligations and secure their rights.”
H.E. Al Bustani noted that the Authority has distributed a progression of guides and e-learning modules on its website, covering the legislative and executive aspects of the assessment framework. The FTA Director General urged Tax Agents to benefit from these publications and study them extensively to improve knowledge of the UAE tax system among all those active in the sector, which, in turn, leads to better administrations and guarantees a smooth and successful implementation of tax legislation and methodology.
The meeting saw FTA delegates acquaint members to several important topics straightforwardly related to their field of work, including registration requirements, professional standards that Tax Agents are expected to meet, and the procedures that the Authority carries out to monitor Agents and evaluate their adherence to its standards. The FTA specialists then answered queries from attendees and tuned in to their recommendations.
The Authority asserted that a Tax Agent’s profession requires advanced qualifications, know-how, competencies and practical experience in order to be able to perform their role with accuracy, and to meet stringent standards. Tax Agents registered with the FTA can be assigned to any person or entity for the purpose of representing them with the Authority, and assisting them in doing their commitments and practicing their assessment rights.
The Federal Tax Authority has effectively certify an enormous number of Tax Agents who met the specialized guidelines, conditions and capabilities required, and passed the exams prepared by the FTA to decide their capacity to complete their mandate, and help the business divisions comply with their assessment commitments.
The Federal Tax Authority has sketched out seven compulsory fundamental benchmarks that must be met by candidates applying for the Tax Agents’ registry, including having a Bachelor’s or Master’s degree in tax, accounting, or law from a recognised educational institution; or a Bachelor’s degree in any other field, as long as the candidate holds a certificate from an accredited international association specialising in taxation; in addition to at least three years of practical experience in the field of taxation, legal accounting, or law. The person in question must be conversant in both Arabic and English with verbal and composed aptitudes, and satisfy all the capability guidelines set by the Authority.