FTA collaborates with Mohammed bin Rashid Housing Establishment to promote tax culture

The Federal Tax Authority (FTA) has signed a Memorandum of Understanding (MoU) with the Mohammed bin Rashid Housing Establishment to strengthen the two entities’ strategic partnership and promote tax culture on a wider scale.

The agreement also calls for organising joint events to continuously highlight the latest updates regarding tax legislation and procedures, focusing particularly on processes for UAE nationals to request Value Added Tax (VAT) refunds for taxes incurred on building new residences, in line with the leadership’s vision to develop a modern housing system that ensures citizens’ happiness and wellbeing.

The MoU was signed by Khalid Ali Al Bustani, FTA Director General, and Omar Hamad Bu Shehab, CEO of the Mohammed bin Rashid Housing Establishment, in Dubai.

The agreement aims to develop relations between the FTA and the Establishment, laying solid foundations for collaboration across various fields, in order to coordinate the launch of events and initiatives designed to raise awareness about the importance of complying with tax legislation and procedures.

The MoU aims to enhance collaboration between the Federal Tax Authority and the Mohammed bin Rashid Housing Establishment in various areas, such as organising a series of workshops to spread tax awareness among business sectors and keep them continuously informed about the latest tax legislation and procedures.

It also aims to coordinate participation in economic events and meetings with trade delegations in areas related to the tax sector, in addition to facilitating collaboration towards organising conferences, seminars, and specialised workshops within the scope of both parties’ work.

Furthermore, the agreement seeks to organise joint activities to highlight the importance of complying with tax legislation, underlining the tax system’s key role in supporting the UAE’s efforts to diversify the national economy, increase sustainable resources, and bring more prosperity for all citizens, residents, and visitors in the UAE.

The MoU also supports the FTA’s strategic plan for promoting tax awareness and education, driving closer cooperation towards educating all stakeholders about taxes implemented in the UAE, including VAT, Excise Tax, and Corporate Tax, as well as the categories of taxpayers who are subject to them and the standards, requirements, and mechanisms for tax compliance.