UAE's Tax Agents Forum will talk about the role of agents in implementing Corporate Tax
In order to simplify tax administration, the FTA developed the Advisory Business Group, which was compared with Tax Agents' roles during the conference.
To underline their responsibilities and the rules they must abide by as Corporate Tax takes effect in the nation, the Federal Tax Authority (FTA) electronically called a meeting of the Tax Agents Forum for registered Tax Agents around the UAE.
The discussion compared the job of Tax Agents to that of the Advisory Business Group, which was created by the FTA to simplify tax administration, run the tax system, put tax policy into place, investigate the difficulties facing the business community and Tax Agents, and foster positive relationships with them.
The Forum covered the fundamentals of corporate taxation, the most recent changes to UAE tax legislation, and strategies for assisting the FTA in its efforts to enhance tax system services in accordance with global best practises and standards. Along with a number of other connected concerns, the meeting also discussed e-commerce and the export of services for Value Added Tax (VAT) purposes.
The forum also covered the Tax Agents Classification initiative, which the Authority recently introduced with the goal of making it easier for taxpayers to comply with tax laws by giving them access to a flexible, accurate, and transparent online process that enables them to choose a Tax Agent who specialises in the sector that their economic activity falls under from a list of ten sectors. After carefully examining the accumulated experiences of the licenced and registered Tax Agents of the FTA, the ten industries were chosen.
Zahra Al Dahmani, Director of Taxpayer Services at the FTA, emphasised the Authority's commitment to establishing effective communication with all parties involved in implementing the tax system in the UAE during her speech during the Forum. She did this by stepping up the agenda of forums and coordination meetings that support the Authority's plans to develop and streamline the process of helping taxpayers choose the best Tax Agent.
"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," the official said.
Al Dahmani continued, "The initiative also streamlines the process of choosing the most suitable Tax Agent, specialised in the economic activity each taxpayer works under, helping to increase taxpayer satisfaction with regard to Tax Agent services. "The Tax Agents Forum gives the Authority the chance to hear Tax Agents' views and opinions, which helps with the process of developing initiatives and projects and improving services."
The Muwafaq Package, an effort the Federal Tax Authority introduced to promote the small and medium-sized enterprises (SMEs) sector, which accounts for the majority of businesses operating in the UAE, was also discussed at the Forum. The package intends to empower this industry to contribute to the nation's economic growth as well as to foster an entrepreneurial and innovative culture. It also offers a variety of services, incentives, and privileges that are specifically aimed towards SMEs that are registered under the UAE tax system.