FTA reports growth in Muwafaq Package registrations
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UAE’s FTA reports growth in Muwafaq Package registrations

UAE’s FTA reports growth in Muwafaq Package registrations

The package offers a variety of features and incentives that can help SMEs save money and get help with tax compliance

Gulf Business
FTA reports incraese in Muwafaq Package registrations

UAE’s Federal Tax Authority (FTA) reported a significant growth in the demand and number of registrants in the Muwafaq Package, which was launched in March to facilitate doing business and ensure tax compliance for small and medium-sized enterprises (SMEs).

The FTA held a customer council meeting in Abu Dhabi to discuss the Muwafaq Package initiative and highlight its role in supporting and encouraging entrepreneurs to comply with tax legislation.

The meeting was part of the UAE’s Customer Councils initiative, which aims to enhance the quality of government services by engaging customers in efforts to design innovative experiences.

The FTA experts gave an insight into the Muwafaq Package, saying it provides innovative solutions to facilitate tax compliance for SMEs, as well as educational materials about tax procedures that are specifically designed for small businesses.

SMEs registered in the tax system can access the Muwafaq package through the electronic tax services portal EmaraTax and benefit from the various features and incentives the package offers to encourage tax compliance.

The Muwafaq Package offers a variety of features and incentives, including special rates on tax accounting programs and software, booking appointments with account managers who specialise in tax relations, exclusive packages from tax agents to Muwafaq registrants, priority in availing services for SME representatives and workshops to raise awareness.

It is a valuable resource for SMEs that want to ensure compliance with the UAE tax regulations. The package offers a variety of features and incentives that can help SMEs save money, get help with tax compliance and get priority in availing services.

FTA corporate tax platform

Meanwhile, the FTA unveiled a dedicated ‘Corporate Tax Virtual Workshops’ awareness platform, which seeks to provide knowledge and support for taxpayers who are subject to corporate tax.

The new feature forms part of the steps the FTA has taken to ensure a smooth implementation of the corporate tax law that came into effect at the beginning of this month and aims to strengthen the country’s position as a leading global centre for business and investment.

On this new platform, the FTA offers educational materials, currently including 13 virtual awareness workshops in both Arabic and English about registration for corporate tax.

The tax authority said the awareness workshops are available in both Arabic and English on the ‘Corporate Tax Virtual Workshops’ platform on the FTA website.

They include a detailed explanation of how to create a new user profile on the EmaraTax platform, how to register for corporate tax, the documents required for registration and the stages for processing the registration application and issuing a tax registration number for corporate tax.

The UAE rolled out its corporate tax, which levies a headline 9 per cent rate on income of certain businesses that exceed $102,000 (Dhs375,000) – on June 1. The corporate tax is part of the UAE’s broader strategies that are aimed at aligning the Gulf state with new international standards.

It aligns with a global minimum tax on multinational corporations endorsed by the G20 countries in 2021.

Read: Corporate tax: UAE exempts free zones from business tax

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