Dubai: The Federal Tax Authority (FTA) and the Umm Al Quwain Chamber of Commerce and Industry have signed a Memorandum of Understanding (MoU) to cooperate on promoting a tax culture among business sectors. The MoU further aims to contribute towards the UAE’s strategy and vision to support the private sector, entrepreneurs, and investors.
The agreement was signed by Mr. Khalid Ali Al Bustani, Director-General of the FTA, and Mr. Ammar Rashid Al Aleeli, Director-General of the Umm Al Quwain Chamber.
The MoU, signed at the FTA’s headquarters in Dubai, is part of the efforts to intensify tax awareness activities and establishes a framework for collaboration between the Authority and the Chamber. This involves organizing more workshops and awareness sessions for business sectors, entrepreneurs, and investors, particularly in the Emirate of Umm Al Quwain.
The MoU serves to establish effective frameworks for bilateral cooperation to continuously upgrade the services we provide to support and assist business sectors. This aligns with the Authority’s plans to create a tax environment that encourages compliance, in accordance with the highest governance and transparency standards, by implementing continuous awareness plans that target all business categories and familiarise them with tax legislation and procedures using diverse methods and providing clear information.
Mr. Al Bustani shared.
“The Authority consistently seeks to enhance its strategic partnerships with all relevant federal and local government entities, as well as with the private sector,” the Director-General added.
Mr. Al Aleeli commented that “Umm Al Quwain Chamber of Commerce and Industry is committed to supporting the Federal Tax Authority’s vision in the tax sector by hosting specialized conferences, seminars, and workshops, in coordination with the Authority, as a means to highlight key tax-related laws and procedures.”
“This collaboration with the Authority contributes to raising tax awareness among our members at the Chamber and ensuring their compliance, which, in turn, strengthens commitment among all member companies, including small and medium-sized enterprises, in service of the public interest,” Mr. Al Aleeli added.
Under the partnership, both parties will enhance their coordination with regard to participating in economic events and meetings with trade delegations related to the tax sector. The two parties will also jointly organize activities to promote compliance with tax legislation and highlight the tax system’s role in diversifying income sources.