The Federal Tax Authority (FTA) has officially registered the intellectual property of the "Muwafaq" package, a strategic initiative designed to assist small and medium-sized enterprises (SMEs) in the UAE.
The FTA highlighted that this move represents a significant step in fostering innovation within the tax system while providing SMEs with comprehensive solutions tailored to market needs. By streamlining tax compliance processes, the initiative aims to empower businesses and enhance their regulatory adherence.
Khalid Ali Al Bustani, Director-General of the FTA, emphasized the significance of the registration, stating,
“This reinforces the authority’s position as a leading institution in delivering innovative tax solutions. The Muwafaq package offers a range of benefits, facilitation measures, and tailored educational resources to support and enhance SME compliance with tax regulations.”
The initiative reflects the FTA’s ongoing commitment to innovation and operational efficiency, ensuring a more business-friendly regulatory environment. By supporting SMEs—an essential pillar of the UAE’s economy—Muwafaq is expected to drive growth, improve compliance, and promote sustainable business practices in the region.
News Source: Emirates News Agency
