UAE: Federal Tax Authority Launches Business Support Initiative

United Arab Emirates News developments

UAE: Federal Tax Authority Launches Business Support Initiative

Alittihad, 17 March 2023: The UAE’s Federal Tax Authority has launched an initiative which aims to support small and medium-sized businesses (SMEs) by offering a range of services and incentives tailored to the sector to promote tax compliance.

Muwafaq package is a project that offers a set of privileges to small and medium-sized enterprises (SMEs) in the UAE, along with training programmes and educational material on the basics of tax procedures to enhance compliance with tax laws and regulations in the sector.

Small and medium-sized enterprises (SMEs) are eligible to use this scheme. Those covered by the scheme will have an SME relationship manager appointed. There will be tax agent discounts and will be supplied with tax accounting software at competitive prices. SMEs will also be given priority on the use of certain Federal Tax Authority services. In addition, they will be given educational material onr tax procedures, tailored awareness sessions and workshops. Additional benefits will also be offered to SMEs.

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Benjamin Filaferro