The Board of Directors of the Federal Tax Authority, 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, held its first meeting, after the Cabinet approved the decision to reconstitute the Authority’s Board of Directors.
His Highness affirmed during the meeting held via videoconferencing techniques yesterday, that the indicators seen by the Council showed the Authority's continued achievement of positive results and tangible achievements, reflecting the strength of the national economy, despite the challenges faced by the global economy due to the effects of combating The "Covid-19" pandemic, revealing the approval of 3124 applications submitted by citizens to recover the tax they had paid for building their homes, until the end of June 2020.
Recorded works
His Highness stated that the statistics showed that the number of businesses registered for VAT through individual registration or tax groups increased to 335.53 thousand registered at the end of last June, compared to 320.44 thousand registered at the end of 2019, and the number of registered for the selective tax increased to 1159 registered, while the number Tax agents are 368 agents.
Housing for citizens
His Highness continued, “The data seen by the Board of Directors showed a significant increase in tax recovery rates for building new housing for citizens, and the speedy completion of the Authority's transactions received from citizens via the platform (electronic tax services) to recover value-added tax from building citizen housing that depends on procedures Electronic is characterized by ease, clarity and accuracy, in implementation of the leadership’s directions by providing all forms of support to achieve housing stability for citizens ». His Highness added, “According to the authority’s statistics, 3,124 applications submitted by citizens who have recovered the tax they paid for building their homes have been approved, with a total value of 205.8 million dirhams since the implementation of this mechanism in September 2018 until the end of June 2020, with a record growth during the first half of This year, it reached 136.7% in the value of the refundable tax, and 108.8% in the number of approved applications.
His Highness stated that during the past six months, 1628 new applications, valued at 118.8 million dirhams, were approved, compared to 1496 applications valued at 87 million dirhams since the implementation began until the end of 2019.
Quick response
His Highness Sheikh Hamdan bin Rashid Al Maktoum expressed his satisfaction with the rapid response and the many measures taken by the Federal Tax Authority during the past period, noting that the Authority continued to provide all of its services remotely in full efficiency through its entire electronic system, which provides advanced services to facilitate operations Registering, submitting declarations, and paying the taxes owed by the registrants, to allow all procedures to be completed in steps that are easy and fast, without personal or paper dealing, which helped maintain public health that is at the top of the priorities.
His Highness added that the authority made great efforts to keep pace with the important precautionary measures taken by the UAE to prevent the spread of the "Covid-19" virus, and to ensure the security and safety of citizens and residents in the country, so it implemented a remote work system for its employees based on the latest technologies, in order to maintain personal separation, And to prevent the spread of the new Corona virus.
Future plans
The Board of Directors of the Federal Tax Authority reviewed a report on the results and developments of the main existing projects of the Authority, including the tax refund system for tourists, and the results of the launch of the first and second stages of the system of distinctive signs on tobacco and its products.
The Council approved the future plans of the Authority to develop electronic tax services, based on global best practices, and approved a number of internal policies and regulations aimed at improving and developing the workflow to continue to raise the efficiency of the tax system.
- The number of businesses registered for VAT increased to 335.5 thousand at the end of June 2020.