Federal Tax Authority launches strategy to explore future of tax sector, strive for global leadership

The Federal Tax Authority (FTA) has launched its strategy to explore the future of the tax sector and strive for world-leading tax procedures. The strategy is built on a thorough assessment and follows comprehensive plans developed to map out the future of the UAE tax system, in line with international best practices.

In a press statement issued today, the Authority explained that launching the strategy formed part of its activities to mark World Future Day 2022, which began last week.

FTA Director General His Excellency Khalid Ali Al Bustani said: “The Federal Tax Authority’s strategy for exploring the future of the tax sector primarily aims to identify the basic motives, scenarios, and proactive measures required for sustainably upgrading tax procedures in the UAE, and promoting a culture of future-mapping within, paving the way for it to become a world leader in the field.”

“Over the past few days, the Authority organised a series of events to mark World Future Day, including an awareness seminar on the methods and tools of forecasting the future, which highlighted the importance of the FTA’s participation in celebrating World Future Day, and showcased various effective future-planning mechanisms, with detailed steps and frameworks,” H.E. added. “Furthermore, the FTA held a brainstorming session on the future of taxes to discuss the impact of future planning on the UAE Vision 2031, and on the principles and timeline for the Authority’s strategy to explore the future. The session also examined global trends in forecasting the future of the tax sector.”

H.E. Al Bustani went on to note that the agenda of activities for World Future Day 2022 also saw the Federal Tax Authority organise an awareness session on the role of the EmaraTax platform in enhancing the FTA’s preparations to build a more advanced tax future. The Authority also collaborated with leading consulting and research firm Gartner to hold a seminar on ‘Modern technological trends and their impact on tax systems’.