Tax Compliance Enhancement through Partnership between the Authority and Etihad Credit Bureau
In a strategic move to bolster tax compliance within the UAE, the Authority has established a pivotal partnership with the Etihad Credit Bureau. This alliance aims to harness the power of credit data to reinforce adherence to tax regulations.
A Digital Bridge to Compliance
The centerpiece of this collaboration is the creation of a digital conduit, granting the Authority direct access to credit reports. This initiative is a byproduct of a membership agreement, underscoring a commitment to inter-agency cooperation for the betterment of tax regulation enforcement.
Leadership’s Commitment
The agreement, endorsed by the Director Generals of both entities, underscores a shared vision to utilize verified data to enhance the precision of tax-related processes. This partnership is envisaged to not only refine tax procedures but also to simplify tax audits and ensure the veracity of Tax Returns.
The Imperative of Strategic Alliances
This initiative is just one facet of the Authority’s broader strategy to cultivate strategic partnerships with government and private sectors. These collaborations are instrumental in optimizing tax audits and tax return accuracy, all while aligning with stringent standards of data security and confidentiality.
Insights for Empowerment
The Etihad Credit Bureau’s Director General has expressed enthusiasm for the partnership, highlighting its potential to provide government entities with deeper insights. The Bureau’s rich database on credit information and payment behaviors is set to significantly enhance credit, collection, and auditing policies.
Enhanced Tax Audit Efficiency
With the establishment of a digital link, the Authority’s authorized personnel will have streamlined access to taxpayer credit reports. This innovation promises to expedite tax audits and elevate the integrity of data within tax returns, offering real-time updates on taxpayers’ credit standing.
This partnership marks a proactive step towards a transparent and effective tax system, reflecting a commitment to innovation and excellence in tax administration.
