Robust performance acknowledged at its annual general meeting
The Business Advisory Group for Tax Agents has held its first meeting, chaired by Khalid Ali Al Bustani, director-general of the Federal Tax Authority (FTA), attended by FTA officials and representatives of the Authorised Tax Agents sector in the UAE – members of the Group.
Held at the FTA headquarters, the meeting discussed the group’s operations and ways to achieve its goals, which include supporting the FTA with improving the administration of tax, operation of the tax system and implementation of tax policy; allowing the FTA to better understand and obtain a wider view of the commercial environment and challenges of business and tax agents; and building and maintain effective relationships with tax agents; to leverage the feedback for the improvement of FTA services.
The meeting also explored the most important current tax issues and developments in the tax system, including the specialised tax agent project, topics raised by group members, and how to tackle common errors in the market. The discussions held highlighted the importance of adhering to the group’s mandate to achieve its goals of bridging communication with the tax agent sector as a whole, in order to ensure that the sector is represented by the tax agent group members, raising its challenges and suggestions.
Khalid Al Bustani said: “The formation of the Business Advisory Group for Tax Agents is part of the FTA’s commitment to building effective strategic partnerships with relevant authorities across the public and private sectors, recognising the significant role these partnerships play in driving the successful implementation of the tax system, since through them, awareness is raised among taxpayers and processes and procedures are improved, which, in turn, serves to support the FTA’s efforts to assist taxpayers in complying with tax regulations and procedures as per the required accuracy and efficiency standards.”
“The group is set to hold regular periodic meetings to monitor the continuous development and updating of tax systems and procedures, in addition to discussing suggestions, observations, and inquiries from tax agents, in order to address any challenges they may face and strengthen their role in supporting business sectors to achieve tax compliance,” he said.
Al Bustani reaffirmed the FTA’s commitment to strengthening cooperation mechanisms to improve tax administration; ensuring the highest levels of transparency, clarity, and accuracy of information; and taking all suggestions into consideration in the FTA’s improvement plans.
The FTA director-general pointed out that the FTA maintains ongoing communication with all sectors concerned with the tax system, since in addition to the Business Advisory Group for Tax Agents, which was formed in August 2022, the FTA formed the Business Advisory Group for Value Added Tax and the Business Advisory Group for Excise Tax which hold meetings periodically.
— business@khaleejtimes.com
Robust performance acknowledged at its annual general meeting
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