Table of Contents
The United Arab Emirates’ federal Tax Authority (FTA) concluded its second annual strategic partners forum in Dubai, recognizing over 60 key players from both the public and private sectors. The event served as a platform to showcase the FTA’s remarkable progress in modernizing its tax system and expanding digital services.
Khaled Ali Al bustani, Director General of the FTA, highlighted 2024 as a pivotal year for the authority. He noted, “The year 2024 is considered one of the distinguished years in the authority’s journey, noting that many development and modernization projects for its services have been implemented in line with the country’s strategy for digital transformation, and electronic connectivity with its partners has been expanded to enhance the integration of services and facilitate the exchange of data.” This progress includes significant strides in corporate tax implementation, with hundreds of thousands of businesses registering, fueled by a thorough public awareness campaign emphasizing compliance.
Al Bustani emphasized the FTA’s commitment to digital transformation, aligning with the UAE’s broader smart government initiative. He stated that the authority is “continu[ing] to launch and implement various projects and initiatives in the field of digital transformation in the tax sector to keep pace with the government’s strategy for smart transformation of all services based on smooth and proactive digital procedures,in a way that supports the efforts made to zero bureaucracy and continue to maintain high levels of customer happiness.” The FTA aims to eliminate 70 bureaucratic processes in the coming period, reflecting a commitment to streamlined efficiency.
The UAE’s sophisticated tax system,lauded by Al Bustani,boasts legislative,procedural,and technological advancements that adapt to both domestic and international changes. this system promotes self-compliance through fully electronic mechanisms, adhering to global best practices. He further emphasized the importance of strategic partnerships, cultivated over seven years, in fostering integration and collaboration between the public and private sectors.
Looking ahead, Al Bustani underscored the FTA’s dedication to collaboration in achieving its two-year strategic and operational plan. Key objectives include developing effective tax policies, refining procedural systems, and strengthening efforts to combat tax evasion. The forum concluded with Al Bustani honoring the FTA’s strategic partners,acknowledging their contributions to the UAE’s economic progress.
The FTA’s achievements resonate with global efforts towards tax modernization and digitalization. The focus on transparency, efficiency, and ease of compliance mirrors similar initiatives in the United States and other developed nations, highlighting a shared commitment to fostering economic growth through effective tax management.
The United Arab Emirates (UAE) Federal Tax authority (FTA) recently concluded it’s annual strategic partners forum, highlighting the agency’s significant progress in modernizing its tax system and embracing digital services. This commitment to digital transformation reflects a global trend toward more efficient, clear, and streamlined tax management systems. We spoke with Dr. Fatima Hassan, a leading expert in international tax policy, to get her insights on the FTA’s accomplishments and future goals.
Milestone Year
Senior editor: Dr. Hassan, the FTA Director General highlighted 2024 as a pivotal year for the authority. Could you elaborate on the key achievements driving this sentiment?
dr. Hassan: Absolutely. The FTA has made remarkable strides in implementing a complex, fully electronic tax system that adheres to global best practices. This year saw the successful registration of hundreds of thousands of businesses under the new corporate tax regime, thanks to a comprehensive public awareness campaign.
Digital Transformation and Efficiency
Senior Editor: The article also stresses the FTA’s dedication to digital transformation. How does this align with the UAE’s broader smart government initiative?
Dr. Hassan: The FTA’s digital transformation efforts are in perfect harmony with the UAE’s vision for a smart and efficient government. By streamlining processes, promoting electronic connectivity with partners, and ultimately eliminating bureaucratic obstacles, the FTA aims to enhance service integration and facilitate seamless data exchange.
Senior Editor: And this focus on streamlining translates to tangible benefits for businesses and individuals, right?
Dr. Hassan: Precisely. The FTA’s goal is to achieve a zero-bureaucracy environment, resulting in improved customer happiness and a more favorable business climate.
strategic Partnerships
Senior Editor: The article mentions the importance of strategic partnerships in this journey. Can you elaborate on this aspect?
Dr. Hassan: Collaborative partnerships are crucial for the FTA’s success. The agency has cultivated strong relationships with both public and private sector players over the past seven years, fostering a spirit of integration and mutual support.
Looking Ahead: Future Goals
Senior Editor: What are the FTA’s key objectives for the future?
dr. Hassan: the FTA is committed to achieving its two-year strategic and operational plan, which includes further developing effective tax policies, refining procedural systems, and strengthening measures to combat tax evasion.
Senior Editor: It seems the FTA is well-positioned for continued success.
Dr. Hassan: Indeed. The FTA’s dedication to innovation, collaboration, and efficiency serves as a model for tax authorities around the world. By embracing digital transformation and promoting transparency, the FTA is playing a vital role in driving economic growth and prosperity in the UAE.
