Value-added tax (VAT) is a tax that is levied on goods and services. It is a consumption-based tax, rather than an income-based tax. It is applied to the price of a product or service at every stage of manufacture, distribution, and sale to the final consumer.The UAE's value-added tax consultancy Dubai, or VAT, went into effect on January 1, 2018. The rule was established to give the UAE with a new stream of revenue, which will be used to continue providing high-quality public services.
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Tax agents are qualified and accredited individuals that assist taxable individuals with their Federal tax authority UAE VAT reistration compliance tasks. Tax agents are licenced by the FTA, and taxable persons can hire them to help them meet their tax responsibilities.A tax agency in Dubai is a group of tax agents that form a company to help taxpayers with their compliance obligations. Multiple tax agents will make up a tax agency. To be licenced to assist taxpayers in compliance, all such tax agent firms must register as tax agencies with the FTA. This is on top of any individual tax agent licences that the firm's members may have.