Terms & Conditions of Advisory Service
These terms govern access to Taxbay digital portals, advisory intake, and the execution of professional engagements across Corporate Tax, VAT, Accounting, Virtual CFO, and Regulatory Compliance in the United Arab Emirates.
1. Scope of Application & Engagement Hierarchy
These Terms and Conditions (“Terms”) govern the commercial advisory relationship between Taxbay Accounting LLC (“TaxBay”, “we”, “our”) and the client or corporate entity (“Client”, “you”).
Where a formalized, countersigned Letter of Engagement (Engagement Letter / EL) or Service Level Agreement (SLA) exists between Taxbay and the Client, the specific stipulations of that Engagement Letter shall take legal precedence over these general Terms in the event of any operational conflict.
2. Nature of Services & Tax Advisory Scope
TaxBay provides accounting, tax and corporate advisory services under the commercial laws of the Emirate of Dubai. Deliverables, including corporate tax assessments, Free Zone QFZP qualifying income reviews, transfer pricing documentation and VAT returns, are based on legislation and Federal Tax Authority (FTA) public clarifications in force at the time of issuance.
Disclaimer of Legal Court Advocacy: TaxBay provides tax and corporate finance advisory. TaxBay is not a law firm licensed for court litigation. Representation before the UAE Tax Dispute Resolution Committee (TDRC) and UAE courts is conducted by appropriately authorised professionals where required by procedural law.
3. Client Obligations, Books of Account & Warranties
To enable Taxbay to render compliant services, the Client expressly covenants and warrants:
- Document Authenticity: All general ledgers, sales invoices, customs bills, bank statements, contracts, and shareholder records provided are authentic, true, accurate, and complete.
- Submission Timelines: Documents required for monthly/quarterly VAT filings or annual Corporate Tax returns must be furnished to Taxbay no later than fifteen (15) calendar days prior to the statutory FTA deadline.
- Statutory Taxpayer Liability: Under UAE Federal Decree-Law No. 28 of 2022 on Tax Procedures, the primary legal responsibility for the veracity of declarations and timely tax liability discharge rests solely with the registered taxable person (the Client).
- Indemnification for Client Delays: Taxbay shall bear zero liability for late filing administrative penalties, fines, or interest assessed by the FTA where such outcomes stem from Client omission, document withholding, or delayed disclosure.
4. Anti-Money Laundering (AML) & Sanctions Compliance
In strict adherence to UAE Federal Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) and Cabinet Decision No. 10 of 2019:
- Mandatory KYC & UBO Verification: The Client must furnish complete Ultimate Beneficial Owner (UBO) disclosures, Emirates IDs, passports, and source-of-wealth records before engagement onboarding.
- Statutory Reporting Duty: Taxbay is legally mandated to report suspicious financial transactions or indicators to the UAE Financial Intelligence Unit (FIU) via the goAML portal.
- Anti-Tipping-Off Prohibition: Under Article 25 of the AML Law, Taxbay is criminally prohibited from notifying or warning the Client if an inquiry or report has been submitted to regulatory authorities. Taxbay shall incur zero civil or contractual liability for compliance with statutory AML mandates.
5. Limitation of Liability & Professional Indemnity
To the fullest extent permitted by the laws of the United Arab Emirates:
- Taxbay’s aggregate liability for any direct loss, claim, or breach arising out of an engagement shall be capped at the total professional fees actually paid by the Client to Taxbay under the specific statement of work in the preceding three (3) months.
- Under no circumstances shall Taxbay be liable for indirect, incidental, punitive, or consequential damages, including loss of anticipated commercial profits, reputational harm, or commercial downtime.
6. Professional Secrecy & Mutual Confidentiality
Taxbay and the Client mutually agree to maintain in strict confidence all proprietary corporate data, financial figures, intellectual strategies, and technical tax positions disclosed throughout the engagement lifecycle, disclosing such information only to competent UAE regulatory bodies (such as the FTA or courts) under statutory compulsion.
7. Governing Law & Exclusive Jurisdiction (Dubai Courts)
These Terms and any non-contractual obligations arising out of or in connection with them shall be governed by and construed in accordance with the Federal Laws of the United Arab Emirates and the local laws of the Emirate of Dubai.
Any legal dispute, controversy, or claim shall be subject to the exclusive jurisdiction of the competent Dubai Courts (or the Dubai International Financial Centre (DIFC) Courts where expressly designated in an executed engagement contract).
Legal & Regulatory Counsel
For questions regarding engagement contracts, compliance mandates, or billing: