Federal Tax Authority, ADGM to strengthen strategic partnership

The Federal Tax Authority (FTA) and) ADGM Academy have strengthened their strategic partnership to share expertise, stay at the forefront of developments in areas of mutual interest, and deliver specialised tax education to recent UAE national graduates.

The partnership will also create practical training and employment opportunities for high-performing graduates, fostering a culture of innovation.

The joint collaboration was announced in the presence of Khalid Ali Al Bustani, Director General of the FTA, Hamad Sayah Al Mazrouei, Chairman of the ADGM Academy Board of Directors, Jasim Haddad, Chief Executive Officer of FTA’s Support Services Sector, and Abdulla Al Suwaidi, Board Member of ADGM Academy.

Khalid Al Bustani said: “This partnership creates exciting new avenues for collaboration, elevating the professional skills of those working in taxation and related sectors. By developing high-quality, accurate academic and training resources on taxation, we aim to equip professionals with the necessary expertise.

The FTA is committed to strengthening strategic partnerships with government, private sector, and educational institutions, recognising their crucial role in the successful implementation of the tax system. This directly supports the UAE’s vision for a knowledge-based economy, leveraging effective tools for talent assessment and development.”

He added: “This collaboration provides a robust framework for enhancing tax culture and promoting continuous professional development within the tax field. This aligns with the FTA’s commitment to encouraging tax compliance underpinned by best-practice governance and transparency.”

Hamad Sayah Al Mazrouei, Chairman of the ADGM Academy Board of Directors, stated, “We are pleased to partner with the Federal Tax Authority, highlighting our shared commitment to nurturing the next generation of skilled taxation professionals. Through providing training programs and internationally accredited certifications, ADGM Academy equips UAE nationals with the expertise needed to thrive in an evolving financial landscape. Together, we strive to drive innovation and support UAE’s vision of a sustainable, knowledge-based economy. ”

This initiative will broaden cooperation between the FTA and ADGM Academy in several key areas, including expanding training opportunities in taxation and related fields, supporting the ADGM Academy in conducting FTA training initiatives and providing internationally accredited professional certifications for tax specialists and agents across the UAE in areas such as Corporate Tax, Value-Added Tax (VAT), and Excise Tax. The partnership also envisions collaborating with specialist organisations to develop and deliver training programmes and workshops focused on innovative solutions to pressing challenges prioritised by both parties.

Meanwhile Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), said that the number of companies registered for corporate tax has surpassed 450,000, demonstrating a strong commitment from the business sector to align with the new tax system.

Al Bustani highlighted the vital role of collaboration with partners in achieving the FTA’s objectives and supporting the national economy.

He noted that the annual meeting serves as an important occasion to recognise and honour the 64 partners this year, emphasising that the Authority’s success in meeting its goals is largely attributed to their invaluable support.

Al Bustani further stressed that the Authority is continually striving to enhance partnerships and broaden the reach of awareness campaigns and training workshops, ensuring a clearer understanding of the tax system and facilitating compliance for businesses.

Al Bustani reiterated the Authority’s commitment to advancing its electronic platforms to streamline processes, reduce bureaucracy, and improve the overall customer experience.

Meanwhile Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), confirmed that 2024 is a distinguished year in the Authority’s journey, noting that many development and modernisation projects have been implemented for its services in line with the country’s strategy for digital transformation.

The electronic connectivity with its partners has been expanded to enhance the integration of services and facilitate the exchange of information.

The current year has also witnessed significant progress in the implementation of corporate tax, as hundreds of thousands of those subject to corporate tax have been registered, in light of the continuation of the comprehensive awareness campaign to highlight the importance and requirements of tax compliance.

This came during the second forum of the Federal Tax Authority’s strategic partners for the year 2024, which was held in Dubai, during which more than 60 strategic partners of the Authority in the public and private sectors were honoured.