His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Chairman of the Board of Directors of the Federal Tax Authority, confirmed that the tax system has managed during the past two years and the period ending this year to achieve many of its main goals, foremost of which is diversification of national income sources.

His Highness said during the 11th meeting of the Board of Directors of the Federal Tax Authority, yesterday, that the Authority was able during the past period to achieve concrete achievements in all areas of its work and in its operating systems.

Assent

In detail, the Board of Directors of the Federal Tax Authority, during its 11th meeting yesterday, headed by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Chairman of the Board of Directors of the Authority, approved the Authority’s financial statements for the fiscal year 2019, and also adopted a number of policy decisions The organizational and administrative aspects of the Authority and its operational activities.

During the meeting held at the Ministry of Finance headquarters in Dubai, the Council reviewed a number of reports on the developments of existing projects, the achievements of the Authority, the results of the implementation of the first and second stages of the distinctive signs project on tobacco and its products and future plans for the project, and the results of the Authority's operations related to value-added tax and selective tax, Receive periodic returns, pay due taxes, and processed refund requests.

Tax compliance

The indicators seen by the Board showed a noticeable increase in the levels of tax compliance, as a continuous increase was recorded in the value of periodic declarations submitted to the Authority, which rose by 21% during the past year compared to 2018, and the number of registered with the Authority increased by 7%, where the number The business registered for VAT through individual registration or tax groups is 320 thousand and 44 registered, while the number of registered for the selective tax increased to 1100 registered, while the number of tax agents reached 355 agents.

Diversification of income sources

His Highness Sheikh Hamdan bin Rashid Al Maktoum said that the distinguished reports and results seen by the Council confirmed that the tax system has managed, during the past two years and the period ending this year, to achieve many of its main goals, foremost of which is diversification of national income sources and provision of public services at a high level From quality and sophistication, to maintaining a sustainable environment and integrated infrastructure.

His Highness added: “The indicators we have seen confirm that the entire electronic tax system, which was applied locally in accordance with best practices, has contributed effectively to encouraging those subject to voluntary compliance, through easy procedures, based on the highest standards of transparency and accuracy.”

His Highness pointed out that «the Federal Tax Authority managed during the last period to achieve concrete achievements in all areas of its work and its operational systems, and established many effective strategic partnerships with the relevant authorities in the government and private sectors, and the base of dealers in the tax system witnessed a significant expansion with the continuous rise in the number Registered with the authority, and in the number of approved clearance companies and tax agents ».

Success

His Highness expressed his satisfaction with the success achieved by the important projects implemented by the authority during the past period, including the platform of "electronic tax services" to recover value-added tax on building new homes for citizens, which provided more facilities with recovery procedures, and the electronic system for tax recovery for tourists who witnessed expansion Significantly, it has raised the rates of tourist satisfaction with its users, as well as the mechanism for refunding value-added tax for visiting foreign business, in addition to the successful application of the system «distinctive signs on tobacco and its products», which aims to combat tax evasion and protect the consumer Yin from commercial fraud, preserving environmental safety and human health.

E-Tax Services

The platform of "electronic tax services" to recover value-added tax from building new housing for citizens contributed to increasing facilities for citizens, as requests for refund and refund amounts were processed for citizens who have met the criteria for recovery with a value exceeding 97 million dirhams until March, with a growth of 15.48% during less than Three months, compared to 84 million dirhams until last December.

320

One thousand registered VAT ... and 1100 for "selectivity".