FTA Joins Forces with Etihad Credit Bureau to Elevate Tax Compliance Standards
In a strategic move to enhance tax compliance across the UAE, the Federal Tax Authority (FTA) has forged a new partnership with Etihad Credit Bureau, the national entity responsible for consolidating credit data. This collaboration is set to revolutionize the way tax compliance is managed by leveraging the power of digital connectivity and data accuracy.
Establishing a Digital Bridge for Compliance
The cornerstone of this partnership is the creation of an electronic link between the FTA and Etihad Credit Bureau. This digital bridge will grant the FTA direct access to a wealth of credit reports, enabling more informed and precise tax compliance measures. The agreement, signed by FTA Director General His Excellency Khalid Ali Al Bustani and Etihad Credit Bureau Director General H.E. Marwan Ahmad Lutfi, marks a significant step forward in the utilization of digital resources to uphold tax legislation.
A Framework for Enhanced Cooperation
His Excellency Khalid Ali Al Bustani highlighted the importance of this agreement in setting a robust framework for cooperation. “By integrating our systems with Etihad Credit Bureau, we can tap into a rich database of credit information, ensuring that our tax procedures are grounded in accuracy and reliability,” he stated.
Strategic Partnerships for Operational Excellence
The initiative is part of the FTA’s broader plan to strengthen strategic partnerships with key government and private-sector entities. “This collaboration is about more than just data sharing—it’s about refining our tax audit processes, verifying the precision of Tax Returns, and ultimately saving time and effort for all parties involved,” added H.E. Al Bustani.
Empowering Government Entities with Data
H.E. Marwan Ahmad Lutfi of Etihad Credit Bureau expressed enthusiasm about the partnership, emphasizing the Bureau’s commitment to empowering government entities. “Our goal is to provide government agencies like the FTA with deep insights that can enhance their credit, collection, and auditing policies,” he said.
Streamlining Tax Audits with Accurate Data
Authorized FTA personnel will now be able to swiftly access taxpayer credit reports through Etihad Credit Bureau’s extensive database. This access is expected to speed up tax audit procedures significantly and ensure the accuracy of the data reflected in Tax Returns.
In Conclusion
The partnership between the FTA and Etihad Credit Bureau is a testament to the UAE’s dedication to innovation and excellence in tax administration. By harnessing the power of accurate credit data, the FTA is poised to achieve new heights in tax compliance, reflecting the country’s commitment to transparency and governance.
