Federal Tax Authority And State Taxation Administration Of China Sign MoU To Enhance Bilateral Tax Cooperation

The Federal Tax Authority (FTA) and the State Taxation Administration of China (STA) have formalised a Memorandum of Understanding (MoU) to enhance their cooperation in tax matters. This agreement, signed by Khalid Ali Al Bustani from the FTA and Jinglin Hu from the STA, aims to bolster bilateral relations and promote collaboration in taxation.

Representatives from both authorities attended the signing at the FTA headquarters in Dubai. The MoU is part of efforts to expand joint cooperation and establish strategic partnerships internationally. It includes sharing experiences, technical expertise, and coordination on best practices within the tax sector.

The agreement outlines plans for exchanging visits, meetings, development proposals, and ideas. It also involves sharing information on current tax policies and procedures. These initiatives align with the FTA's strategy to create effective frameworks for collaboration between the two tax authorities.

The FTA highlighted that this MoU will open new opportunities for future collaboration with China in taxation. It supports sustainable development through adopting best practices and advanced digital technologies. The agreement also focuses on enhancing cooperation at the tax implementation level.

Digital transformation of tax administration is a key aspect of this partnership. The MoU facilitates organising exchange visits related to tax administration in both countries. It also encourages cooperation in other areas of mutual interest, supporting continuous improvement plans for better tax services.

The FTA aims to enhance service quality by adopting advanced technological solutions that offer greater procedural convenience. This aligns with governance standards and transparency goals. The exchange of expertise will boost competitiveness and strengthen the UAE’s global ranking in digital transformation and tax administration.

The announcement today is expected to contribute significantly to fostering environments that encourage compliance with high governance standards. The FTA praised the cooperation level achieved with China's STA, noting the positive impact anticipated from this agreement.

This MoU marks a significant step towards strengthening bilateral cooperation in taxation between the UAE and China. It supports efforts to achieve sustainable development within the tax system by leveraging best practices and digital advancements.

With inputs from WAM