The Federal Tax Authority (FTA) has signed a Memorandum of Understanding (MoU) with the Mohammed bin Rashid Housing Establishment to enhance their strategic partnership and promote tax awareness across the UAE.
The agreement focuses on raising awareness about tax legislation, particularly regarding Value Added Tax (VAT) refunds for UAE nationals building new residences.
The MoU was signed in Dubai by Khalid Ali Al Bustani, Director General of the FTA, and Omar Hamad Bu Shehab, CEO of the Mohammed bin Rashid Housing Establishment. The partnership aims to establish a framework for collaboration between the two entities, facilitating joint events and initiatives that highlight the importance of tax compliance and keep citizens informed about the latest updates in tax procedures.
Al Bustani emphasized the importance of this collaboration in supporting the FTA’s efforts to create a tax environment that encourages compliance, aligned with the highest standards of governance and transparency. He noted that the partnership will help reach all segments of the community, particularly UAE citizens, and ensure they are well informed about their rights and obligations under the tax system.
A key feature of this collaboration is the promotion of the FTA’s recently launched Maskan smart application, which enables UAE citizens to reclaim VAT paid on building new homes through fully digital and paperless procedures. This initiative is part of the FTA’s broader strategy to provide proactive, sustainable services that meet customer expectations.
Omar Hamad Bu Shehab expressed the Housing Establishment’s commitment to simplifying the VAT reclaim process for citizens, aligning with the leadership’s vision of providing a dignified and stable life for all citizens. He highlighted the partnership’s role in empowering citizens to build their homes with ease and convenience.
The MoU also includes plans to organize workshops, conferences, and other events aimed at raising tax awareness and ensuring that all stakeholders are well-informed about the tax system, including VAT, Excise Tax, and Corporate Tax, as well as their obligations under the law. This collaboration is expected to contribute significantly to the UAE’s efforts to diversify its economy and increase sustainable resources.
News Source: Emirates News Agency
