Latest news with #KhalidAlBustani
Mid East Info
6 days ago
- Business
- Mid East Info
Federal Tax Authority Commends the Role of Youth and Celebrates Their Achievements on International Youth Day
High Representation of Young Talent Across Various Leadership and Specialist Levels Within the Authority Abu Dhabi,August 2025: The Federal Tax Authority (FTA) marked International Youth Day, emphasising that young talent forms the cornerstone of institutional development and serves as a driving force for innovation, solution creation, and enhancing the competitiveness of government work, in line with the UAE's vision to empower youth and prepare them for future leadership roles. The FTA stated that investing in the potential of young people and providing them with opportunities to take on leadership and specialist roles is among its top strategic priorities, stemming from its firm belief that they are the main engine for sustainable development and the advancement of the nation's leadership on the global stage. Announced in its latest statistics, the FTA also reflected on its strategic commitment to empowering young people and harnessing their potential as active partners in leading the future. The youth demographic accounts for 70.5% of the FTA's total workforce, 87% of whom are UAE nationals. Therefore, such significant numbers underscore the pivotal role of young national talent in developing the tax system and enhancing the country's long-term competitiveness. Women represent 56% of the FTA's young workforce, highlighting the influential presence and active contribution of Emirati women across various areas of work within the Authority. This aligns with the UAE's vision to promote gender balance and foster an inclusive, motivating work environment. The statistics also revealed that young people hold 33% of supervisory and leadership positions, make up 80% of specialist roles, and account for 81% of tax-related positions, with 84% holding a university degree or higher. These figures demonstrate that the FTA not only attracts young talent but also empowers them in decision-making roles, equipping them with the knowledge and skills that enhance their contribution to innovation and institutional performance development. This approach aligns with the UAE's vision to prepare a generation of leaders capable of meeting future challenges and creating new opportunities for growth. On this occasion, His Excellency Khalid Al Bustani, Director General of FTA, said: 'The youth of the UAE are the foundation of the future, and we take pride in the FTA serving as a model for their empowerment, providing an environment that fosters creativity, and enabling their participation in decision-making and policy development. Our celebration of International Youth Day is a message of appreciation for their pioneering role and a reaffirmation of our commitment to the vision of the wise leadership in investing in their potential and enhancing their contribution to achieving sustainable development.' He added: 'At the FTA, we are keen to provide an inspiring work environment that embraces the energy of youth, offers them continuous training and skills development opportunities, and enables them to participate in formulating strategic initiatives and projects, in line with the UAE's wise leadership vision of empowering young people and preparing them to lead the future.' His Excellency said: 'Achieving these high levels of youth representation within the FTA is the result of a clear strategy focused on attracting qualified young talent, developing their skills, and empowering them to take on leadership and specialist roles that contribute to enhancing institutional efficiency. We remain committed to continuing our investment in their capabilities, providing them with the tools and opportunities that enable them to innovate and deliver added value to government work.' Eissa Al Raeesi, Chair of the Youth Council at FTA, also spoke about the vital role of young people within FTA, saying: 'The youth represent the beating heart of the development and transformation journey the FTA is witnessing. Their role goes beyond mere participation to leading transformational projects that shape the future. At the Youth Council, we are committed to ensuring that young voices are heard and their ideas are implemented in practice, driven by our belief in their ability to accelerate innovation across FTA's various services and to strengthen its position as a pioneering institution aligned with the UAE's aspirations for a more efficient and innovative government. We believe that empowering youth is not an option, but a necessity to ensure the sustainability of achievements and to accelerate institutional development.' The FTA affirms that its policies and programmes aimed at attracting and developing young talent stem from a clear vision aligned with the UAE's direction to prepare a generation of future leaders capable of anticipating challenges, creating opportunities, and contributing to consolidating the country's position as a leading global hub for innovation and quality of life. This ensures the sustainability of the comprehensive development journey and enhances the nation's competitiveness at both regional and international levels. The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
Zawya
16-07-2025
- Business
- Zawya
Federal Tax Authority emphasizes importance of promptly registering for Corporate Tax
H.E. Khalid Al Bustani: The number of registrations for Corporate Tax has increased to 576,000 registrants Abu Dhabi, UAE: The Federal Tax Authority (FTA) confirmed an increase in the number of beneficiaries from the Corporate Tax Late Registration Penalty Waiver initiative applicable to Taxable Persons and certain categories of Exempt Persons required to register with the FTA who were late in submitting their Corporate Tax registration applications within the specified deadline. The FTA clarified that in order to be exempt from the AED 10,000 'Late Registration Penalty' for Corporate Tax, Taxable Persons (or Exempt Persons required to register) must submit their Tax Return (or annual declaration) no later than seven months from the end of their first Tax Period (or the first Financial Year), instead of nine months. The Late Registration Penalty Waiver initiative applies only to the first Tax Period of the Taxable Person (or Exempt Person required to register), regardless of whether the due date of the first Tax Return (or annual declaration) was before or after the new decision came into effect. H.E. Khalid Ali Al Bustani, Director General of the Federal Tax Authority, emphasised the importance of the non-registered Corporate Tax Taxable Persons to submit their Corporate Tax registration applications to the FTA, followed by the submission of Tax Returns through the 'EmaraTax' platform within the specified deadline, in order to benefit from the UAE Cabinet Decision on the waiver initiative to exempt Taxable Persons and certain categories of Exempt Persons required to register with the FTA, from Administrative Penalties resulting from failing to submit a Corporate Tax registration application. His Excellency mentioned: 'This important initiative comes as part of the comprehensive strategy to support business sectors and encourage voluntary compliance with tax laws and procedures to avoid Administrative Penalties, which contributes to promoting economic growth, ensuring tax transparency and fairness within a legislative environment that keeps pace with developments through sustainable improvement, while maintaining performance quality and managing the tax system with the highest levels of efficiency and accuracy.' His Excellency Director General added: 'It is clear that the initiative to waive the Late Registration Penalty is incentivising many registrants for Corporate Tax as we note an increase in the number of Corporate Tax registrations to 576,000 – up from 538,000 registrants before the launch of the waiver initiative, in April 2025. This resulted in an increase of 38,000 additional registrations, as thousands of Corporate Tax registrants have submitted their Tax Return and annual declaration within the specified deadline to benefit from the Late Registration Waiver.' His Excellency Khalid Ali Al Bustani also stated: 'These indicators are a clear reflection of the initiative's success, which shows how the awareness on tax compliance and procedures is growing across all business sectors, in the UAE. The FTA is keen to continue engaging with the business community through various awareness channels, as well as to seek taxpayers' views and discuss ways to overcome any challenges they may face. Furthermore, the Authority is intensifying its efforts, in cooperation with the relevant entities, to raise awareness about the importance of the initiative and the need for non-registered Corporate Tax Taxable Persons to act quickly and benefit from the waiver initiative by submitting their registration applications, tax returns, and annual declarations within a period not exceeding seven months from the end of their first Tax Period or Financial Year.' About Federal Tax Authority The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
Mid East Info
28-05-2025
- Business
- Mid East Info
Director-General of Federal Tax Authority lauds 3 wins at Sharjah Public Finance Award - Middle East Business News and Information
H.E. Khalid Al Bustani: 'Awards reflect the FTA's institutional excellence and an environment of optimum innovation' Sharjah,May 2025: Following the 3rd edition of the Sharjah Public Finance Award, H.E. Khalid Ali Al Bustani, Director-General of the Federal Tax Authority (FTA), said that winning three Arab Region awards in both institutional and individual categories is another important achievement – adding to the Authority's track record of accomplishments under its innovation strategy. The FTA's innovation strategy was established with the aim of achieving global leadership in tax revenue collection, establishing a culture of voluntary compliance to support financial sustainability, developing innovative solutions to continuously improve the services provided to customers, and promoting an institutional environment that supports and encourages creativity and innovation. The three accolades awarded to the FTA included one institutional and two individual awards. The FTA won in the category of 'Institution Distinguished in Financial Innovation,' with two FTA employees picking up individual awards for 'Outstanding Arab Tax Manager' and 'Outstanding Arab Procurement and Contracts Manager'. During a ceremony, held recently at the Sharjah Cultural Palace Theatre, Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, congratulated and presented H.E. Khalid Ali Al Bustani with the FTA's institution award, in the presence of H.E. Sheikh Rashid bin Saqr Al Qasimi, Director of SFD and Secretary-General of the Award, along with a number of senior officials from government and private entities in Arab countries, local departments, and representatives of the financial sector from across the UAE. The individual awardees included Saida Kaddoumi Osman, Tax Policy Consultant at the FTA, who took first place for the 'Outstanding Arab Tax Manager' award. This category awards outstanding individuals working in Arab government entities responsible for managing tax affairs, and is dedicated to mid-tier tax administration leaders. Sulaiman Abdullah, Director of the Administrative Affairs Department at the FTA, was the other individual award winner, coming first in the 'Outstanding Arab Procurement and Contracts Manager' award category. This award recognises individuals with outstanding performance in the public finance departments of Arab government entities, specifically mid-tier tax administration leaders who are responsible for procurement, tendering and contract management processes that are carried out with a high level of excellence and transparency. Following today's announcement, the FTA Director-General said: 'We are proud to win these prestigious awards, especially given the strong competition from many well-established entities with great expertise in public finance – from across the Arab world. 'Through continuous efforts to develop and update our technology infrastructure and human resources, the FTA has shown itself a clear leader across multiple award categories. This reflects our continuous efforts to implement development plans that maintain the highest standards and enhance both leadership and deliver excellence in the tax sector – both regionally and internationally.' His Excellency added, 'This milestone is further testament to the FTA's advanced organisational maturity – despite being a relatively new institution. By adopting the concept of innovation as a core pillar for the sustainable growth and efficiency of the UAE's tax system, the FTA demonstrates its commitment to excellence and its growing role as a global leader in the field of tax administration. The Director-General also praised the wider team at the FTA for their ongoing dedication to fostering a culture of creativity and innovation, ensuring that the Authority maintains its position as a leading global tax authority that supports financial sustainability in accordance with the highest standards of governance and transparency.' The Sharjah Public Finance Award 'Institution Distinguished in Financial Innovation Award' category is presented to a government entity that has developed innovative solutions to enhance financial operations or address challenges encountered by the financial sector. It was noted that the digital system implemented for the refund of Value Added Tax (VAT) to tourists was one of the primary submissions under consideration for this category. The FTA successfully overcame a significant challenge by transitioning from conventional, paper-based procedures for tourist VAT refunds, which were time-consuming and labour-intensive. The FTA's solution was to launch the world's first integrated digital VAT refund system for tourists, which has overcome many procedural and processing obstacles, thereby delivering an exceptional experience for tourists, while supporting the digital transformation and sustainability goals of the UAE government. The VAT refund system also reinforces the UAE's leadership in innovation and smart government services. Launched in 2016, the Sharjah Award in Public Finance, is the first Arab award specialising in government financial excellence. It was initiated by the Sharjah Finance Department in cooperation with the Arab Administrative Development Organisation of the League of Arab States. The of this was to help consolidate a regional culture of excellence, developing administrative ideologies and creating a collective identity of efficiency and excellence among different government entities. The award also aims to encourage the optimal use of financial resources, the implementation of the most effective financial and administrative systems, and the development of government budgets to achieve sustainable development.
Mid East Info
04-03-2025
- Business
- Mid East Info
FTA Organises 'Tax Hackathon' to Foster Innovation in the Tax Sector Through Artificial Intelligence Technologies
At the conclusion of the UAE Innovation Month activities, 'UAE Innovates 2025' H.E. Khalid Al Bustani: 'The Hackathon is an inspiring platform that offers participants a unique opportunity to contribute to shaping the future of digital taxation.' Abu Dhabi,March 2025: As part of the UAE Innovation Month (UAE Innovates 2025) and the Year of Community, the Federal Tax Authority has announced the organisation of the InnoTAX 2025 AI Hackathon. Held over two days, on 26 and 27 February 2025, at Al Shindagha Museum in Dubai, the hackathon aimed to develop innovative technological solutions to address challenges in the tax sector while fostering collaboration and innovation between the public and private sectors. During the event, the Authority highlighted the participating projects and innovative technological solutions aimed at leveraging advanced technologies such as artificial intelligence, big data, and cloud computing to enhance tax services. Since announcing the Hackathon, the Authority has received a range of projects focused on enhancing the taxpayer experience through artificial intelligence, promoting tax awareness, and applying AI to tax compliance. The Hackathon targeted a diverse group of participants, including developers, AI specialists, designers, and data scientists, as well as university students, researchers, faculty members, entrepreneurs, tax experts, and fintech innovators. On this occasion, H.E. Khalid Ali Al Bustani, Director General of the Federal Tax Authority, stated: 'The Authority is committed to actively participating in UAE Innovation Month and the Year of Community, driven by our firm belief that innovation is a fundamental pillar for developing and enhancing the efficiency of the tax sector. This Hackathon reflects our dedication to fostering innovation in taxation by leveraging the latest artificial intelligence technologies and developing innovative technological solutions to address challenges in the sector.' He added: 'The Hackathon serves as an inspiring platform that provides participants with a unique opportunity to contribute to shaping the future of digital taxation. Through the innovative ideas and projects presented, we aim to support the advancement of the UAE's tax system.' On the final day of the Hackathon, the Authority received many project submissions. A panel consisting of experts and representatives from the Authority evaluated the proposed projects and solutions, recognising the top three innovative solutions. The evaluation process followed strict criteria, including creativity and innovation, the quality and usability of the solution, and the extent to which the technology utilised artificial intelligence, blockchain, or automation. Additionally, the assessment considered the impact and benefits of the solution, its feasibility and applicability, as well as the clarity, strength, and persuasiveness of the presentation.
Zawya
04-03-2025
- Business
- Zawya
FTA organises "Tax Hackathon" to foster innovation in the tax sector through AI technologies
H.E. Khalid Al Bustani: "The Hackathon is an inspiring platform that offers participants a unique opportunity to contribute to shaping the future of digital taxation." Abu Dhabi: As part of the UAE Innovation Month (UAE Innovates 2025) and the Year of Community, the Federal Tax Authority has announced the organisation of the InnoTAX 2025 AI Hackathon. Held over two days, on 26 and 27 February 2025, at Al Shindagha Museum in Dubai, the hackathon aimed to develop innovative technological solutions to address challenges in the tax sector while fostering collaboration and innovation between the public and private sectors. During the event, the Authority highlighted the participating projects and innovative technological solutions aimed at leveraging advanced technologies such as artificial intelligence, big data, and cloud computing to enhance tax services. Since announcing the Hackathon, the Authority has received a range of projects focused on enhancing the taxpayer experience through artificial intelligence, promoting tax awareness, and applying AI to tax compliance. The Hackathon targeted a diverse group of participants, including developers, AI specialists, designers, and data scientists, as well as university students, researchers, faculty members, entrepreneurs, tax experts, and fintech innovators. On this occasion, H.E. Khalid Ali Al Bustani, Director General of the Federal Tax Authority, stated: "The Authority is committed to actively participating in UAE Innovation Month and the Year of Community, driven by our firm belief that innovation is a fundamental pillar for developing and enhancing the efficiency of the tax sector. This Hackathon reflects our dedication to fostering innovation in taxation by leveraging the latest artificial intelligence technologies and developing innovative technological solutions to address challenges in the sector." He added: "The Hackathon serves as an inspiring platform that provides participants with a unique opportunity to contribute to shaping the future of digital taxation. Through the innovative ideas and projects presented, we aim to support the advancement of the UAE's tax system." On the final day of the Hackathon, the Authority received many project submissions. A panel consisting of experts and representatives from the Authority evaluated the proposed projects and solutions, recognising the top three innovative solutions. The evaluation process followed strict criteria, including creativity and innovation, the quality and usability of the solution, and the extent to which the technology utilised artificial intelligence, blockchain, or automation. Additionally, the assessment considered the impact and benefits of the solution, its feasibility and applicability, as well as the clarity, strength, and persuasiveness of the presentation. About FTA The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
