FTA reports 110 percent growth in number of authorised tax agents in 2019
The first half of 2019 saw the number of authorised tax agents increase by more than 110 percent to exceed 370 agents, up from 176 at the end of 2018, asserted the Federal Tax Authority, FTA, as it hosted the second Meeting of Tax Agents.
The authority noted that the growth in the number of authorised agents provides a wider array of options for taxable persons or entities who choose to deal with the authority via an agent. This, in turn, promotes self-compliance among businesses, as it offers them counsel and support to carry out their tax obligations.
FTA Director-General, Khalid Ali Al Bustani, inaugurated the meeting, which was attended by all 370 tax agents. He said, "These periodic meetings truly embody the effective collaboration between government entities and the private sector, which work together for the greater good and to elevate the national economy."
Noting that the authority has published a series of guides and e-learning modules on its website covering the legislative and executive aspects of the tax system, Al Bustani urged tax agents to benefit from these publications and study them extensively to improve their knowledge of the UAE tax system.
The meeting saw FTA representatives introduce participants to several important topics directly 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 experts then answered queries from attendees and listened to their suggestions.
The FTA has already accredited a large number of tax agents who met the technical standards, conditions and qualifications required and passed the exams set by the FTA to determine their ability to carry out their mandate, and help the business sectors comply with their tax obligations.
The FTA has outlined seven mandatory basic standards that must be met by candidates applying for the tax agents’ registry. These include having a Bachelor’s or Master’s degree in tax, accounting, or a law degree 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. He or she must be fluent in both Arabic and English with verbal and written skills, and meet all the qualification standards set by the authority.
Follow Emirates 24|7 on Google News.