Three years of achievements since the introduction of VAT

Khalid Ali Al-Bustani, Director General of the Federal Tax Authority – in a press release issued today marking the third anniversary of VAT application – has confirmed that for the third consecutive year, the FTA continued to achieve rising performance rates while continuing its efforts to manage, collect, and implement federal taxes with procedures and mechanisms distinguished by their ease of use, transparency, and clarity through its modern electronic systems, pointing to the high compliance rates among taxable persons in light of the greatly increased awareness in business sectors, and the ease and flexibility of the procedures.

Source: wam.ae

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