As per Federal Tax Authority's (FTA) 11th board meeting headed by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and Chairman of the FTA’s Board of Directors, the board revealed the following main points:
- an increase in tax compliance rates, where the total value of the Tax Returns submitted to the Authority grew by 21% over the past year, compared with 2018;
- the number of businesses registered with the Authority increased by 7%, where the number of businesses registered for VAT – as individuals or tax groups – recorded 320,440, while the number of registrants for Excise Tax totalled 1,100, and the number of Tax Agents reached 355;
- the e-Services Portal for VAT refund on the construction of new residences for UAE nationals, which was launched this year to further facilitate tax recovery procedures for UAE nationals, has processed AED97.06 million worth of applications up until March 2020 – a 15.48% growth in less than three months, up from AED84.07 million until December 2019.
- The total number of Tax Clarifications issued by the Authority increased to nearly 464 in 2019, including 10 Public Clarifications issued and published through the FTA website, and 325 Special Clarifications for Taxpayers, compared to a total of 129 clarifications issued in 2018, including nine Public Clarifications and 120 Special Clarifications.
- Assistance was also provided to nearly 20,710 customers at the FTA’s Taxpayer Assistance Centres in 2019.
Source : https://www.zawya.com/mena/en/press-releases/story/UAE_Minister_of_Finance_HH_Sheikh_Hamdan_bin_Rashid_Al_Maktoum_chairs_Federal_Tax_Authoritys_11th_Board_Meeting-ZAWYA20200316111524/
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