Federal Tax Authority launches strategy to explore future of tax sector, strive for global leadership

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Dubai, UAE – The Federal Tax Authority (FTA) has launched its strategy to explore the future of the tax sector and strive for world-leading tax procedures. The strategy is built on a thorough assessment and follows comprehensive plans developed to map out the future of the UAE tax system, in line with international best practices.

In a press statement issued today, the Authority explained that launching the strategy formed part of its activities to mark World Future Day 2022, which began last week.

FTA Director General His Excellency Khalid Ali Al Bustani said: “The Federal Tax Authority’s strategy for exploring the future of the tax sector primarily aims to identify the basic motives, scenarios, and proactive measures required for sustainably upgrading tax procedures in the UAE, and promoting a culture of future-mapping within, paving the way for it to become a world leader in the field.”

“Over the past few days, the Authority organised a series of events to mark World Future Day, including an awareness seminar on the methods and tools of forecasting the future, which highlighted the importance of the FTA’s participation in celebrating World Future Day, and showcased various effective future-planning mechanisms, with detailed steps and frameworks,” H.E. added. “Furthermore, the FTA held a brainstorming session on the future of taxes to discuss the impact of future planning on the UAE Vision 2031, and on the principles and timeline for the Authority’s strategy to explore the future. The session also examined global trends in forecasting the future of the tax sector.”

H.E. Al Bustani went on to note that the agenda of activities for World Future Day 2022 also saw the Federal Tax Authority organise an awareness session on the role of the EmaraTax platform in enhancing the FTA’s preparations to build a more advanced tax future. The Authority also collaborated with leading consulting and research firm Gartner to hold a seminar on ‘Modern technological trends and their impact on tax systems’.

About Federal Tax Authority 

The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority’s website: www.tax.gov.ae

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