Privacy Policy & Data Protection Framework
Statutory disclosure regarding the collection, processing, cross-border transmission, and regulatory retention of corporate and personal financial data by Taxbay in the Emirate of Dubai, United Arab Emirates.
1. Statutory Data Controller Identification
In compliance with UAE Federal Decree-Law No. 45 of 2021 on Personal Data Protection (UAE PDPL), this Privacy Policy governs the processing operations conducted by:
Entity Name: Taxbay Accounting LLC
Commercial Registry: Department of Economy and Tourism (DET), Dubai, UAE
Physical Domicile: Office 204, Arzoo Building, Al Tawar 5, Al Qusais, Dubai, UAE
Compliance & DPO Contact: [email protected] | +971 56 190 3130
2. Categories of Information Collected & Processed
To provide tax, accounting and financial advisory services under UAE legislation, TaxBay processes the following data categories:
Corporate & Financial Records
- Commercial Trade Licenses & Chamber of Commerce Certificates
- Memorandum & Articles of Association (MOA / AOA)
- General Ledgers, Trial Balances, Chart of Accounts & Invoices
- Audited Financial Statements & Bank Account Statements
- Tax Registration Numbers (TRN for VAT & Corporate Tax)
KYC & Statutory Identity Data
- Passport copies and UAE Emirates ID cards of directors and UBOs
- Ultimate Beneficial Owner (UBO) declarations pursuant to Cabinet Decision No. 109 of 2023
- Board resolutions and authorized signatory documentation
- Screening records required under UAE Anti-Money Laundering (AML/CFT) frameworks
3. Legal Bases for Processing Under UAE Law
Taxbay processes information strictly in accordance with Article 4, 5, and 6 of UAE Federal Decree-Law No. 45 of 2021 under the following lawful grounds:
- Statutory Legal Compliance: Compliance with UAE Federal Decree-Law No. 47 of 2022 (Corporate Tax), Federal Decree-Law No. 8 of 2017 (VAT), Federal Law No. 20 of 2018 (AML/CFT), and executive regulations issued by the Federal Tax Authority (FTA) and Ministry of Economy.
- Contractual Performance: Execution of professional engagement letters, Virtual CFO agreements, accounting mandates, and statutory audit representation.
- Public Interest & Anti-Financial Crime: Fulfilling mandatory reporting mandates with the UAE Financial Intelligence Unit (FIU) through the official goAML platform.
4. Mandatory Statutory Data Retention Periods
Under UAE federal commercial and tax legislation, data retention is subject to strict statutory minimums that supersede voluntary erasure requests:
Corporate Tax Records (7 Years)
Article 56 of UAE Federal Decree-Law No. 47 of 2022 mandates that taxable persons and authorized tax agents preserve all books, documents, and records for at least seven (7) years following the end of the relevant tax period.
Value Added Tax (VAT) Records (5 to 15 Years)
Article 78 of the UAE VAT Executive Regulations requires retention of tax invoices, credit notes, and ledgers for five (5) years, extending to fifteen (15) years for capital assets and commercial real estate.
Anti-Money Laundering (AML) / KYC Records (5 Years)
Pursuant to Cabinet Decision No. 10 of 2019, customer due diligence (CDD) documents, identification copies, and transaction monitoring files must be preserved for at least five (5) years from the date of engagement termination.
5. Authorized Disclosures & Regulatory Bodies
Taxbay strictly maintains professional secrecy. Data is never sold, leased, or monetized. Disclosure is restricted to:
- The Federal Tax Authority (FTA) via the EmaraTax portal in connection with tax returns, refund claims, clarification requests, and tax audits.
- The UAE Financial Intelligence Unit (FIU) for statutory goAML filings.
- Relevant Free Zone authorities (DIFC, ADGM, DMCC, JAFZA, DAFZA, etc.) and the Department of Economy and Tourism (DET).
- External statutory auditing firms and banking institutions explicitly authorized by the client in writing.
6. Cross-Border Data Transfers & Security Safeguards
All electronic client data is processed utilizing enterprise-grade encryption (AES-256 at rest and TLS 1.3 in transit). Where cloud systems or accounting software servers reside outside the UAE, Taxbay complies with Article 22 and 23 of the UAE PDPL, ensuring recipient jurisdictions maintain adequate data protection laws or enforcing Standard Contractual Clauses (SCCs) to protect client confidentiality.
7. Client Rights Under the UAE Data Protection Law
Subject to the statutory retention obligations outlined in Section 4, individuals residing in the UAE possess rights under Federal Decree-Law No. 45 of 2021, including:
- The right to obtain confirmation and copies of personal data processed.
- The right to request rectification of inaccurate or incomplete financial identification records.
- The right to restrict processing where accuracy is contested.
- The right to lodge complaints with the UAE Data Office.
Compliance & Data Protection Office
For statutory inquiries, data access requests, or regulatory clarifications: