Federal Tax Authority organises introductory seminar on Advanced Technologies in tax system

Press release

Published November 30th, 2022 - 06:25 GMT

Federal Tax Authority

Highlights

Federal Tax Authority (FTA) organised an introductory seminar on ‘Advanced Technologies and Their Impact on Systems in the Tax Sector’.

As part of the programme of activities to mark World Future Day, the Federal Tax Authority (FTA) organised an introductory seminar on ‘Advanced Technologies and Their Impact on Systems in the Tax Sector’.

Organised in collaboration with consulting and research specialists Gartner, the session explored a series of topics and future trends transforming the tax sector in light of the rapid technological advancements in the field, including the development of industrial cloud platforms, platform engineering and sustainable technology, advanced agile artificial intelligence (AI) technologies, and protection & digital information security systems.

The virtual introductory seminar also featured the latest developments in the Metaverse, before exploring the implications of these future developments on tax procedures and ways to benefit from them.

World Future Day is an ideal occasion to organise an event of this kind, where the Authority aims to educate its team about advanced technological trends in the tax sector. This aligns with the FTA’s plans for the sustainable development of its services and systems, as well as the continuous improvement of the UAE tax system’s efficiency and effectiveness.

Background Information

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.