UAE Engages With BRICS Nations At Tax Officials Meeting In Moscow

The UAE, through the Federal Tax Authority (FTA), took part in the BRICS tax officials and experts meeting in Moscow, Russia, from 24th to 26th September 2024. Delegations from BRICS countries' tax authorities attended this event. Khalid Ali Al Bustani, Director General of the FTA and leader of the UAE delegation, stressed the importance of these meetings for global prosperity.

Al Bustani noted that the BRICS meetings are crucial for fostering global economic growth. The UAE's involvement underscores its dedication to maintaining balanced strategic and economic relations amid global changes. Discussions at the meeting aimed to boost cooperation in tax and finance among member states by sharing experiences and information.

During their participation, the UAE delegation met with Mikhail Mishustin, Prime Minister of Russia. They discussed the significance of joint efforts in taxation and enhancing economic growth pathways. Additionally, a meeting with Daniil Yegorov, Director General of Russia's Federal Tax Service, explored collaboration and expertise exchange in taxation.

The BRICS meeting delved into tax regulatory frameworks and financial policies of each member country. It also examined ways to enhance global tax sector efficiency. These discussions are vital for aligning tax practices with future directions of member states.

The event included specialised sessions focusing on various tax aspects. Topics covered included a customer-centric approach to tax management and service delivery, data collection and utilisation strategies, modernising value-added tax mechanisms, human resources practices within tax administrations, and involving youth and women in the tax network.

These sessions highlighted innovative approaches to improving tax systems globally. By addressing these areas, BRICS countries aim to create more efficient and inclusive tax environments that support economic development.

The UAE's participation reflects its commitment to staying abreast of global developments in taxation. Engaging with international partners helps enhance its own systems while contributing to broader economic stability.

With inputs from WAM