The UAE’s Federal Tax Authority (FTA) said the country’s electronic tax system is the most comprehensive in the region as it facilitates the process of taxes transparently.
During an introductory workshop organised by the Department of Economic Development of Ras Al Khaimah, the FTA said the electronic system ensures widespread tax compliance and boosts confidence in tax regulations.
The workshop discussed the objectives of and procedures for implementing Value-Added Tax, which was rolled out across the UAE from January 1, 2018. It also discussed road maps and mechanisms to implement VAT, and highlighted services offered by the FTA to taxable persons to ensure a smooth roll-out of VAT.
The workshop was part of the Authority’s awareness campaign on VAT, targeting public and private sectors including departments of economic affairs, advisory bodies, chambers of commerce, and corporations (both large ones and small and medium enterprises).
Registration for VAT is free and available all day through the FTA website’s e-services portal. Once on the portal, users can click ‘Register,’ and then verify their logins through an email.
The FTA said last week that at least 260,000 companies have registered to pay VAT, and urged firms with an annual turnover of over Dh375,000 to register without further delay.
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