The Board of Directors of the Federal Tax Authority, chaired by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Chairman of the Board, reviewed a comprehensive report on the results of the Authority's operations and achievements during the past period, which showed a remarkable increase in the levels of tax compliance in the country, and an increase in the number of registered The number of VAT registered to more than 311.4 thousand registered companies, individuals and tax groups, while the number of registered for the selective tax 754 registered, and the number of tax agents approved 305 agents.
The Council adopted measures to facilitate the recovery of citizens' VAT paid by them for the construction of their new homes in implementation of the vision of the wise leadership to develop a modern housing system to delight citizens and provide them with a stable and dignified life.
The Authority is implementing tax legislation that reflects the Government's guidelines to ensure the welfare of the citizen.Therefore, clear standards and mechanisms have been provided that are transparent to facilitate the recovery of VAT on the construction of new housing for citizens, to simplify and accelerate the steps of recovery of citizens who meet the legal requirements of the tax through the website of the Authority. The Authority, in coordination with the concerned authorities in the financing of housing in the State to ease the requirements of auditing the requests for redemption submitted by citizens based on the cooperation of the relevant authorities to provide the necessary assurances As part of the development plans and the main objective of all the initiatives and projects implemented by the state institutions, it aims to support recovery requests in the framework of efforts to provide the best standards of living and well-being for citizens.
The Board of Directors of the Authority has also adopted a resolution allowing tourists who qualify for VAT refunds to be paid for their purchases to receive the cash tax due within one year from the date of departure from the UAE in case they are unable to redeem immediately before departure. Before you leave.
During the meeting, which was held this morning at the Ministry of Finance in Dubai, the Council approved the draft budget of the Authority for 2020, in preparation for submission to the Council of Ministers for approval, and adopted a number of executive decisions related to the organizational and administrative policies of the Authority and its operational activities.
His Highness Sheikh Hamdan bin Rashid Al Maktoum said that the reports reviewed during the meeting showed a continuous improvement in the performance of the Authority in all its activities, and a qualitative development in the level of services provided to its customers, which is keen to ensure the happiness of customers from all categories of citizens, residents, visitors and tourists, and rapid response to their requirements. In line with the best standards.
His Highness said: “The Federal Tax Authority has been able to establish strong and successful cooperation relations with all concerned with the implementation of the tax system in the public and private sectors, which enabled it to play its role to contribute to the implementation of policies to diversify the national economy, through the management and collection of federal taxes In line with international best practices, the TRA has intensified its efforts to provide support to enable taxpayers to comply voluntarily with smooth, flexible mechanisms and the highest standards of transparency and accuracy.
His Highness added: "The Authority is keen to review its executive procedures for tax legislation on a continuous basis to achieve the highest levels of efficiency in performance, simplifying procedures for all customers, to meet the aspirations of citizens and residents, and in this context has been adopted procedures to facilitate the recovery of citizens VAT paid by them for the construction of their homes The new regulations, which will be applied in the coming period to those who meet the legal requirements for tax refund, reflecting the government 's orientations aimed at achieving the highest levels of welfare for citizens. "