FTA Expands Corporate Tax Awareness Efforts with 135% Growth in 2024 Events

The Federal Tax Authority (FTA) has significantly intensified its efforts to raise awareness about the UAE’s Corporate Tax Law, which took effect for financial years starting on or after June 1, 2023.

In the first half of 2024, the FTA organized 40 in-person and virtual awareness events, marking a 135% increase from the same period in 2023. Participation in these activities also rose, with 8,220 attendees, a 9.23% increase over the previous year.

The FTA’s initiatives aim to educate businesses on compliance with the Corporate Tax Law, offering workshops and resources tailored to various business sectors. A survey conducted by the FTA revealed a rise in participant satisfaction rates to 97.5% in 2024. The Authority emphasized its commitment to fostering a strong tax culture in the UAE, using both in-person events and digital platforms to reach a broader audience.

Khalid Ali Al Bustani, Director-General of the FTA, highlighted the importance of these efforts in ensuring smooth and accurate implementation of the Corporate Tax Law. He encouraged businesses to participate in upcoming awareness events and to comply with registration requirements as stipulated by the FTA. The expanded awareness campaign is part of a broader strategy to support businesses in meeting their tax obligations efficiently, in line with international best practices.

News Source: Emirates News Agency