FTA Partners With MBRHE To Boost Tax Awareness Among UAE Nationals

The Federal Tax Authority (FTA) has entered into a Memorandum of Understanding (MoU) with the Mohammed bin Rashid Housing Establishment. This agreement aims to enhance their strategic partnership and broaden tax awareness. The MoU also focuses on organising events to update UAE nationals on Value Added Tax (VAT) refund processes for new home construction, aligning with the leadership's vision for a modern housing system.

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 seeks to foster collaboration between the two entities, facilitating initiatives that highlight the importance of adhering to tax legislation and procedures.

Al Bustani stated, "Signing this Memorandum of Understanding with the Mohammed bin Rashid Housing Establishment contributes to establishing an effective framework for joint collaboration between our two entities. This, in turn, supports our plans at the Federal Tax Authority to institute a tax environment that encourages compliance, in line with the highest standards of governance and transparency."

Omar Hamad Bu Shehab expressed satisfaction with the partnership, saying, "We at the Mohammed Bin Rashid Housing Establishment are pleased to collaborate with the Federal Tax Authority on this important initiative. Raising tax awareness among citizens, particularly regarding housing construction, is crucial. This collaboration contributes positively to our goal of empowering citizens to build their homes easily and conveniently and aligns perfectly with our wise leadership's vision of providing a dignified and stable life for all citizens."

The MoU aims to enhance cooperation in various areas such as organising workshops to spread tax awareness among business sectors. It also includes participation in economic events related to taxation and facilitating conferences and seminars within both parties' scope of work.

Innovative Solutions

Al Bustani highlighted the Maskan smart application launched by the FTA as a significant step towards digitalising VAT refund processes for UAE citizens building new homes. He emphasised that this app offers 100 percent digital and paperless procedures.

"Through ongoing awareness plans, we aim to reach all segments of the community, especially UAE citizens," Al Bustani continued. "The Authority implements tax legislation that reflects the UAE Government’s directives to ensure citizens’ wellbeing. With that in mind, we continue to intensify our efforts to provide proactive and sustainable services using innovative methods to meet all customers’ aspirations."

Future Prospects

The agreement also seeks to organise joint activities highlighting the importance of complying with tax legislation. It underscores how the tax system supports UAE’s efforts in diversifying its economy and increasing sustainable resources for prosperity among all residents and visitors.

"The Federal Tax Authority is committed to strengthening its strategic partnerships with public and private sector entities," Al Bustani asserted. "This is rooted in our understanding of the critical role these partnerships play in successfully implementing the tax system and promoting voluntary self-compliance."

The MoU supports FTA’s strategic plan for promoting tax education among stakeholders about taxes implemented in UAE including VAT, Excise Tax, and Corporate Tax. It aims at educating taxpayers about compliance standards and mechanisms.

This partnership marks a significant step towards enhancing cooperation between FTA and Mohammed bin Rashid Housing Establishment. It aims at simplifying VAT reclaim procedures on housing construction while ensuring citizens' happiness through proactive services.

With inputs from WAM