Regulatory Disclosures & Statutory Legal Notice
Mandatory disclosures concerning our commercial licensing, professional advisory scope, Federal Tax Authority (FTA) representation, and auditor independence standards in the United Arab Emirates.
1. Commercial Registration & Legal Domicile
Taxbay operates as a properly constituted corporate advisory and accounting consultancy registered under the commercial legal framework of the United Arab Emirates:
Registered Entity: Taxbay Accounting LLC
Operating Brand: TaxBay
Licensing Body: Department of Economy and Tourism (DET), Government of Dubai
Licensed Activities: Tax Consultancy, Accounting & Bookkeeping, Financial Analysis & Feasibility Studies
Registered Office: 204, Arzoo Building, Al Tawar 5, Al Qusais, Dubai, UAE
2. FTA Tax Agency Representation Boundaries
Advisory deliverables and agency representation are governed by UAE Federal Decree-Law No. 28 of 2022 on Tax Procedures. Taxbay assists clients in registering, calculating, and submitting returns for:
- Corporate Tax under Federal Decree-Law No. 47 of 2022 and Ministerial Decisions.
- Value Added Tax (VAT) under Federal Decree-Law No. 8 of 2017 and Executive Regulations.
- Excise Tax under Federal Decree-Law No. 7 of 2017 where applicable.
While Taxbay prepares and files submissions on behalf of clients using the official EmaraTax portal, the statutory legal obligation to maintain accurate business records and discharge assessed tax liabilities remains with the taxable entity in accordance with UAE tax procedures.
3. Auditor Independence & Segregation of Functions
In strict compliance with UAE Federal Decree-Law No. 32 of 2021 on Commercial Companies and international standards on ethics (IESBA Code of Ethics):
Separation of Bookkeeping & External Audit
Where TaxBay provides management accounting, bookkeeping or Virtual CFO services, an appointed independent external auditor conducts any statutory audit and issues the audit opinion. TaxBay can coordinate records and audit preparation.
Free Zone Compliance Verification
All Qualified Free Zone Person (QFZP) audits and audited financial reports comply with the annual mandatory filing regulations of respective Free Zone authorities (DMCC, DIFC, JAFZA, DAFZA, ADGM).
4. Dynamic Regulatory Rulings & Circulars Notice
The United Arab Emirates tax and corporate regulatory landscape is evolving actively through Public Clarifications, Cabinet Decisions, and General Explanatory Guides issued by the Ministry of Finance (MoF) and the Federal Tax Authority (FTA). Publications, bulletins, and articles published on taxbay.ae/insights provide educational and general analytical perspectives and must not be construed as unilateral legal advice for specific corporate circumstances without a formal engagement letter.