Sage has announced that all five of its value-added tax-(VAT) compliant products have been officially accredited by the UAE Federal Tax Authority (FTA) and will be on its list of Approved Tax Accounting Software. The five accounting and enterprise resource management (ERP) products that received FTA approvals as VAT-compliant are Sage One, Sage 50 (UK), Sage Evolution, Sage 300 and Sage X3. The products cover business solutions for companies of all sizes, from start-ups to multinational enterprises.
On the accreditation, Mansoor Sarwar, Regional Director for Technical Services and Pre-Sales at Sage Middle East, said: “Getting the FTA’s approval is a great achievement, particularly as the regulatory body’s approval process is stringent and products have to meet high standards and specifications. Sage Middle East will continue to work in close consultation with the FTA to ensure that our products are up-to-date with the latest tax regulations, so that our customers can rest assured their accounting and VAT submissions are compliant with regulations.”
Last November, the FTA had requested that all software vendors who wanted to register with the authority for tax accounting software accreditation should review the requirements and guidelines available on their official website. On announcing the scheme, FTA Director-General Khalid Al Bustani emphasised the importance of tax agents and agile Tax Accounting products, and the need for a clear criteria so as to carry out their mission of building strong relationships between the authority and taxable persons in the country.
The list will be released later this month on the FTA’s website. The review is part of the authority’s commitment to implementing a tax system that adheres to international best practices.