Led by H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, the Federal Tax Authority’s Board of Directors held its sixth meeting at the Ministry of Finance premises.
FTA ACHIEVEMENTS AND HIGH RATE OF TAX COMPLIANCE IN THE UAE
During the meeting, the Board approved the proposed budget for 2019, in addition to several executive decisions on the internal regulations and operations.
Furthermore, the Board also discussed a detailed report on the FTA’s achievements over the past period, including the latest developments with regards to their activities, the registration procedures for Value Added Tax (VAT), and Excise Tax, import declarations, Tax Returns on Excise Tax and VAT, and audit processes. The report has shown a high rate of tax compliance in the UAE.