It is a commonly accepted that any tax agency would comprise a good number of tax agents. However, while operating in the UAE, each tax agency has to register itself with the FTA. Any tax agency operating in the UAE needs registration as then only it would be able to assist taxpayers with filing. Importantly, in order to successfully register as a tax agency, the company should have at least 1 tax agent linked. Interestingly, the FTA has approved the idea offsetting up independent tax agencies so that there is greater awareness among individuals and businesses to file their taxes. With tax agencies, the businesses would also be able to file their taxes before the stipulated deadline.
Conditions Involved in Registering as a Tax Agency
To ensure that your application is not cancelled by the FTA, you need to pay attention to various details. Here is the list of conditions to which you must pay attention to for registering as a tax agency.
- Possessing professional liability insurance with respect to the tax agency business
- Possessing a business or trade license which would allow the applicant to function as an independent tax agency
Situations where the Permit of a tax Agency can be Revoked
While operating as a tax agency in UAE, you need to be attentive about the intricacies. Here is the list of situations in which your permit can be revoked or suspended.
- If the FTA finds out that the eligibility criteria of the agency is mismatching as provided during registration
- If your agency violates the tax law and that violation is serious in magnitude
- If your work ethics have wide scale repercussions on the tax system’s integrity
If you are a tax agent and your registration is all set to be revoked, you would be notified by the FTA within a week’s working days. From the above-mentioned points it is clear that you would have very little scope for committing serious mistakes. The FTA would cancel or suspend your license if you are found guilty within the above-mentioned situations.
It is also worthwhile to note here that if a registered tax agent has stopped working due to some issues, you should go forward and inform them timely. Moreover, the FTA can also accept and review the requests of yours if you want to take a leave from your work. They would decide that whether you can resume practicing after a certain time-period or not.
Process of Applying for the Registration Procedure of a Tax Agency
Here is the list of steps you need to follow while registering your tax agency with the FTA.
- Apply for the registration process with FTA by filing an online form
- You need to submit two important documents. They are the business or trade license and your professional liability license
- FTA may need additional information. For this purpose, they may call you for a personal interview
- Until the approval process is passed, it would depict as pending
- In case your application gets approved, you would receive a Tax Agency Number
- Once you receive this number, you should link at least one registered tax agent with your firm
For assistance related to tax agency registration in the UAE, contact GCC Filings. The company offers help with various forms of registrations. GCC filings would help you to take into account various rules and regulations related to establish a tax agency in the UAE.