Dubai – Mubasher: Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and chairman of the Federal Tax Authority (FTA), has presided over the authority’s eight meeting held on 26 March.
During the meeting, Al Maktoum issued a number of executive decisions concerning the Authority’s operations and administrative policies in the coming period, the state-run tax authority said in a statement.
He said that the authority is stepping up efforts to help businesses achieve full tax compliance, noting that one of the FTA’s main objectives is to support the private sector’s activities.
The level of tax compliance in the UAE has increased, with the number of registrants for value-added tax (VAT) exceeding 300,000 registered businesses, tax groups, and individuals.
On the other hand, the number of registrants for Excise Tax reached 719, while the number of approved Tax Agents grew to 316, according to the statement.
Almost 235 applications were approved, enabling citizens to recover a total of AED 9.76 million, FTA noted.
“The FTA is currently creating new campaigns, most notably ‘Your Tax Invoice: Your Right’, which was launched during the first quarter of 2019 to promote the use of Tax Invoices across all business operations,” Al Maktoum commented.
He added that this initiative seeks to establish direct communication with businesses and continue throughout all seven emirates to raise awareness and to flag obstacles that can be resolved immediately.
