Federal Tax Authority Increases Corporate Tax Awareness with 40 Events in Six Months

UAE, 19 August, 2024 : The Federal Tax Authority (FTA) has significantly ramped up its Corporate Tax awareness initiatives, organizing 40 events in the first half of 2024. This marks a 135.29% increase from the 17 events held in the same period last year.

In a recent press release, the FTA reported that participation in these events rose to 8,220, a 9.23% increase from 7,520 attendees in the first half of 2023. Participant satisfaction also saw a notable increase, reaching 97.5% compared to 93% the previous year.

FTA Director General Khalid Ali Al Bustani emphasized the Authority’s commitment to fostering a robust tax culture and aiding businesses in understanding and complying with the Corporate Tax Law, effective from June 2023. The expanded events include both in-person workshops and virtual sessions, designed to meet diverse business needs.

The FTA's enhanced efforts include launching new awareness programs and utilizing advanced technologies to provide comprehensive guidance on Corporate Tax registration, compliance, and updates. Key topics covered include tax registration procedures, creation of tax groups, and the Small Business Relief program aimed at supporting MSMEs.

The FTA continues to urge businesses to engage with its awareness initiatives and ensure timely registration in compliance with the new Corporate Tax regulations.

Source : www.tax.gov.ae