PwC approved as UAE tax agent amid growing VAT demand

Global firm says it has passed tests set by the Federal Tax Authority
PwC approved as UAE tax agent amid growing VAT demand
By Sam Bridge
Sat 05 May 2018 12:26 AM

The Federal Tax Authority (FTA) has approved PwC as a registered tax agent as demand rises following the launch of VAT in the UAE at the start of the year.

PwC said in a statement that it has met the required standards, conditions and qualifications, in addition to passing the FTA's tests.

“This is great news for PwC and our clients. As a key player in the market, being approved by FTA is a great honour and confirms our commitment in supporting the FTA in successfully implementing the tax system in the UAE,” said Jeanine Daou, PwC Middle East indirect tax leader

As a registered agent, PwC said it will help clients achieve their tax compliance, while avoiding errors and highlighting risks during the filing of VAT implementation.

Last month, Khalid Ali Al Bustani, the director general of the FTA, said about 275,000 companies and individuals have registered to pay VAT in the 100 days since its implementation on January 1.

Al Bustani added that despite some companies having so far failed to register – either intentionally or accidently – the VAT compliance ratio remained high, at 98.8 percent.

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