The board of the UAE’s Federal Tax Authority has approved its 2022 financial statement and reviewed its performance indicators and development plans as the authority prepares to implement corporate tax in the country this year.
The FTA board, which met for its second meeting this year, was also briefed on developments related to the Federal Decree Law on the Taxation of Corporations and Businesses, as well as the FTA’s plans, preparations, and procedures ahead of its implementation, the Dubai Government Media Office said in a statement.
The meeting, chaired by Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and the chairman of the FTA board, was also briefed on the “policies and decisions to be implemented in collaboration with the Ministry of Finance to ensure the smooth execution” of the corporate tax law,” the statement said.
The law, will “strengthen the UAE’s position as a leading global hub for business and investment that maintains the highest international standards of tax transparency”, it added.
Last year, the UAE introduced the federal corporate tax with a standard statutory rate of 9 per cent, which will come into effect for businesses whose financial year starts on or after June 1.
In December, the country issued the federal corporate tax law, bringing the income of companies exceeding Dh375,000 into the corporate tax bracket.
The board was also briefed about the progress the FTA has made in terms of its “transformational projects”, aimed at enhancing the country’s competitiveness.
The Muwafaq package, designed to boost ease of doing business and tax compliance of the small and medium-sized enterprises sector, the Specialised Tax Agent, the Electronic Invoicing System, and the corporate tax system are among the Key projects FTA is implementing, the Media Office said.
The meeting also reviewed the progress made in implementing the integrated tax system, as well as the FTA’s advanced integrated digital tax services platform, EmaraTax, which was launched in December.
The board was also presented with a comprehensive FTA report, which said the number of VAT registrants has reached 351,514. There are 1,549 registrants for excise tax, and 467 tax agents in the country.
The FTA has also approved applications from citizens requesting refunds on the tax they incurred for building their homes, worth Dh131 million in February and March, a growth of almost 14 per cent from last year, according to the FTA report.
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Spider-Man: No Way Home
Director: Jon Watts
Stars: Tom Holland, Zendaya, Jacob Batalon
Rating:*****
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5
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The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
FIXTURES
Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl
Roger Federer's record at Wimbledon
Roger Federer's record at Wimbledon
1999 - 1st round
2000 - 1st round
2001 - Quarter-finalist
2002 - 1st round
2003 - Winner
2004 - Winner
2005 - Winner
2006 - Winner
2007 - Winner
2008 - Finalist
2009 - Winner
2010 - Quarter-finalist
2011 - Quarter-finalist
2012 - Winner
2013 - 2nd round
2014 - Finalist
2015 - Finalist
2016 - Semi-finalist
