- July 5, 2020
- Posted by: Dhivya Krishna
- Category: FTA
Dubai, one of the seven Emirates in UAE, is considered as the heart of the business centre. According to the current legislation of the Federal Tax Association (FTA), the citizens and organizations of UAE are obliged to pay various taxes. In order to remain tax compliant, both businesses and individuals are recommended to seek the assistance of authorized Tax agents in Dubai.
KGRN, a reputed organization in the UAE, has the best team of Tax consultants and Tax agents in Dubai. We provide you with a range of tax services at an affordable price.
Who are Tax agents?
Federal Law No. (7) of 2017 on Tax Procedures defines Tax agents as follows:
“Any Person registered with the Authority in the Register, who is appointed on behalf of another person to represent him before the Authority and assist him in the fulfilment of his Tax obligations and the exercise of his associated tax rights.”
Tax planning, VAT return filing and maintaining your company’s book of records can be difficult tasks. Tax agents lift this weight off your shoulders by helping your organization become more tax-efficient and tax compliant.
As your Tax Agent in Dubai, we will take responsibility for your documents, finances, records and every other information.
Taxes in Dubai:
The FTA levies the following taxes on the citizens of UAE:
This is the tax system for business supplying goods and services. The standard rate of VAT is 5%. Every business whose taxable supplies and imports exceed AED375,000 are necessary to register themselves under VAT.
- Excise Tax:
The government levies excise duty on goods that can be harmful to one’s health like, carbonated drinks, tobacco products, electronic smoking devices etc..
- Corporate Tax:
The government levies a corporate tax on oil companies and foreign banks. However, businesses registered in the free-zones are exempted from corporate tax.
- Income Tax:
The UAE government doesn’t impose any income tax on its citizens.
Why do I need a Tax Agent?
Tax agents in Dubai are basically experts registered with the Authority in the Register to assist you in fulfilling your tax obligations. Tax agents help you identify the liable taxes and help you prevent penalties for non-compliance. We help you by submitting your documents and handling your tax affairs on your behalf. Tax agents in UAE provide a range of tax services and some of them are as follows:
Services provided by a tax agent:
- VAT Registration (individual and group)
- VAT implementation and assistance in VAT compliance.
- Filing your business’ VAT returns.
- Maintaining a book of records and invoices related to tax transactions.
- Handling your tax affairs with the FTA.
- Representing you in front of the FTA.
- Assisting you in the submission of the tax reconsideration form or VAT Voluntary Disclosure submission.
- Assisting you with the deregistration process if required.
- Provide assistance during tax audits and tax inspections.
- Data accounting and sorting and maintaining the required documents.
The government conducts an FTA audit is an assessment to review an organization’s tax compliance and responsibility. Your organization will be notified five days prior to the audit.
Tax agents can be of major help during the process of tax auditing. On the other hand, by hiring tax agents, your organization can always be ready for an FTA audit. Tax agents in UAE can also represent your organization on your behalf and handle your tax affairs.
What are the benefits of hiring a tax agent?
- Tax agents basically help you simplify the process of tax planning and payment.
- Tax agents in Dubai play a major role in providing tax services like tax assessment and representing your taxes before the FTA.
- We assist you in VAT implementation and in making your organization more tax compliant.
- Tax agents in UAE help new businesses and organizations to successfully register themselves under VAT, by eliminating the complications involved.
- The tax agents help you file your tax returns without any delay or mishaps.
- Tax agents in Dubai play a major role in helping your organization with tax reconsideration forms and similar issues.
- Tax planning and implementation can be quite a tiresome task. But, with the help of the tax agents in Dubai, the process gets simplified.
- Tax agents not only help you with your current queries but also provide long-term assistance in maintaining your book of records.
- A solid relationship with a tax agent in Dubai is a great thing to have on your side and this will surely bring you long-term benefits.
KGRN is a reputed organization in the UAE, providing legal solutions and assistance online. Moreover, our team of experienced accountants and attorneys provide a range of tax services. KGRN provides you with a platform to get in touch with the best Tax agents and Tax consultants of UAE.
Here are a few reasons why KGRN makes the best choice:
- We provide great service at a reasonable and affordable price.
- We provide timely service.
- Our tax agents and consultants are extremely skilled and updated and provide you with the best service.
- We provide 100% customer satisfaction.
- KGRN assists you 24/7.
- We are extremely transparent and there involves zero risks.
- All your private details are encrypted during the transactions to ensure privacy protection.
Frequently Asked Questions:
- Who can appoint a tax agent in Dubai?
Any taxable person is eligible to appoint a Tax Agent in UAE to act on behalf of him or his company and to handle all his tax affairs with the Federal Tax Authority.
- What is a tax reconsideration form?
The UAE government facilitates taxpayers to submit a tax reconsideration form if they are not satisfied with the FTA’s decision. In addition, taxpayers who have received a penalty can also apply to FTA’s VAT reconsideration within 20 days.
- In what circumstances do I get a VAT penalty?
- Late registration under VAT
- Failure to file VAT returns within the given time frame
- Submitting wrong documents or incorrect information
- No proper records
- What are the requirements to submit a tax reconsideration form?
A tax agent will provide you with the necessary assistance in identifying the cases that are eligible for tax reconsideration. Meanwhile, some of the necessary documents are as follows:
- VAT Registration certificate
- Personal ID verification documents
- The amount of penalty
- The date of the penalty
- Book of records and tax invoices
- A detailed summary of the case.