Tax Authority Presents Evolution of UAE Tax System at Belt and Road Tax Conference
The Tax Authority has highlighted the progressive development of the UAE tax system at the fourth Belt and Road Initiative Tax Administration Cooperation Forum (BRITACOF) conference in Tbilisi, Georgia.
Advancing Tax Cooperation
During the conference, H.E. Khalid Ali Al Bustani, Director General of the Tax Authority and Vice President of BRITACOF, spoke of the forum’s achievements in fostering increased cooperation and coordination among the nations involved in the Belt and Road Initiative (BRI).
Showcasing the UAE’s Tax Milestones
The Tax Authority’s participation in the BRITACOF conference, which saw significant international attendance, was an opportunity to outline the UAE’s advancements in tax technology, legislation, and procedures. The Authority’s delegation, which included key figures from the Tax Affairs Sector and the Tax Policy and International Relations Department, engaged with other tax experts from around the world.
A Framework for Exchange
The BRITACOF has been instrumental in creating mechanisms for the exchange of expertise and information, which aid in overcoming trade and investment barriers within the initiative’s participating countries.
Emphasizing the UAE’s Role
The UAE, a key member of the Belt and Road initiative, continues to play a pivotal role in facilitating global trade and fostering investment exchange, building upon the historical Silk Road’s legacy of connecting civilizations.
Commitment to Global Tax Development
The Tax Authority reaffirmed its dedication to ongoing collaboration with global tax partners, particularly within the Belt and Road initiative, to enhance tax procedures and embrace digital transformation.
Detailed Overview of the UAE Tax System
Sara AlHabshi presented a comprehensive review of the UAE tax system, showcasing the FTA’s development plans to ensure tax compliance and fairness, particularly in tax dispute resolution. The Authority’s adoption of advanced tax dispute resolution procedures provides taxpayers with multiple appeal levels to ensure transparency and fairness.
BRITACOF’s Role in Tax Environment Improvement
The conference discussed various aspects of improving the tax environment, such as transparency, reducing tax burdens, streamlining compliance, leveraging technology, and enhancing dispute resolution mechanisms. These dialogues underscored the collaborative spirit of BRITACOF’s member countries.
