FTA hosts Virtual Tax Agents Forum to discuss Corporate Tax implementation and tax system enhancement

FTA hosts Virtual Tax Agents Forum to discuss Corporate Tax implementation and tax system enhancement

The Federal Tax Authority (FTA) virtually convened a meeting of the Tax Agents Forum for registered Tax Agents across the UAE to highlight their role and the regulations they are required to follow as Corporate Tax goes into effect in the country.

The meeting contrasted Tax Agents’ role with that of the Advisory Business Group, established by the FTA to streamline tax administration, operate the tax system, implement tax policy, explore the challenges facing the business sector and Tax Agents, and build constructive relations with them.

The Forum discussed the general principles of Corporate Tax, as well as the latest developments in the tax procedures law in the UAE, and ways to support the FTA’s efforts to improve tax system services, in line with international best practices and standards. The meeting also covered the topic of e-commerce and the export of services for Value Added Tax (VAT) purposes, along with a range of other related topics.

Furthermore, the forum discussed the Tax Agents Classification initiative, which was recently launched by the Authority with the aim of facilitating tax compliance for taxpayers, by providing them with a clear, accurate, and flexible online procedure that allows them to select a Tax Agent specialising in the sector that their economic activity falls under, out of a list of ten sectors. The ten sectors were selected after a careful study of the cumulative experiences of the FTA’s authorised and registered Tax Agents.

In her speech during the Forum, Zahra Al Dahmani, Director of Taxpayer Services at the FTA, asserted the Authority’s commitment to establishing effective communication with all parties concerned with implementing the tax system in the UAE by intensifying the agenda of forums and coordination meetings that support the Authority’s plans to develop and facilitate the process of selecting the appropriate Tax Agent for taxpayers.

“The Tax Agents Classification initiative is one of the key transformational projects the Authority is working on with the aim of developing its services and meeting the needs and aspirations of customers, which, in turn, enhances the UAE’s competitiveness and expedites its transition to a highly developed government system in the future,”

she explained.

“Moreover, the initiative helps promote taxpayer satisfaction with regards to Tax Agent services, and streamlines the process of selecting the most suitable Tax Agent, specialising in the economic activity each taxpayer operates under,”

Al Dahmani added.

“The Tax Agents Forum enables the Authority to listen to Tax Agents’ views and opinions, which supports the process of improving services and developing initiatives and projects.”

On another note, the Forum presented the developments made regarding Muwafaq Package, the initiative launched by the Federal Tax Authority to support the small and medium-sized enterprises (SMEs) sector, which makes up the largest segment of all companies operating in the UAE. The package aims to enable this sector to play its part as a driving force for the national economy; it also strives to promote a culture of entrepreneurship and innovation, and provide a range of services, incentives, and privileges targeting SMEs registered in the UAE tax system.

News Source: Emirates News Agency

- Advertisement -
Dark Light