Federal Tax Authority Holds 3 Interactive Sessions In Q1-21 As Part Of “Tax Clinic” Initiative For SMEs
The Federal Tax Authority, FTA, has held three new interactive sessions via video conference, as part of the “Tax Clinic” initiative, a policy of direct and constant communication with business sectors which aims to promote tax awareness and avoid the most common errors that might occur while implementing tax procedures.
The FTA confirmed that the three awareness sessions held in the first quarter of 2021, Q1-21 focused on the small and medium enterprise, SME, sector. Teams of tax analysts and experts from the FTA’s Registration and Taxpayer Services Departments answered, via video conference, the inquiries of business representatives from across the emirates about registration and other tax obligations and raised awareness of how to submit returns and pay tax dues without errors.
His Excellency Khalid Ali Al Bustani, Director-General of FTA, emphasised that the FTA, as part of its commitment to ensuring the security and safety of its employees and clients, maintains constant interaction with those involved in the tax system by organising seminars, workshops and meetings with its partners in the government and private sectors via video conference to preserve physical distancing and adhere to precautionary measures against the novel coronavirus (Covid-19).
Federal Tax Authority
By virtue of this Federal Law by Decree a public federal authority shall be established under the name of the Federal Tax Authority. The headquarters of the authority shall be located in the city of Abu Dhabi. The authority shall be in charge of managing and collecting federal taxes and related fines, distributing tax-generated revenues and applying the tax-related procedures in force in the UAE.
The authority shall be managed by a board of directors chaired by the Minister of Finance and a sufficient number of members to be appointed and remunerated by a Cabinet resolution, based on the chairman’s nomination. The authority shall have an independent annual budget that shall be deemed as public funds and exempted from all taxes and fees.