Dubai, UAE – The Federal Tax Authority (FTA) has signed a Memorandum of Understanding with the Ras Al Khaimah Chamber of Commerce and Industry to build an effective and dynamic partnership between the two entities and support the FTA’s strategy to promote tax awareness among the business community and investors. 

This, in turn, contributes to implementing the UAE’s strategy, vision, and general objectives to support entrepreneurs and investors.

The MoU was signed by FTA Director General His Excellency Khalid Ali Al Bustani and H.E. Muhammad Hassan Al-Sabab, Acting Director General of RAK Chamber of Commerce and Industry, at the Authority’s headquarters in Dubai.

The agreement aims to strengthen and expand collaboration across several areas, including raising awareness about tax registration and its role in diversifying the region’s economies, as well as the types of taxes in the UAE. Additionally, it provides for closer collaboration to develop, implement, and enhance a series of workshops to educate and raise awareness about tax procedures and laws among entrepreneurs and investors in RAK’s business community.

“The Federal Tax Authority is committed to enhancing collaboration and partnership with various entities and institutions in the government and private sectors in the UAE, and this commitment has enabled us to provide an integrated and highly efficient tax system for the business community, investors, and entrepreneurs,” asserted H.E. Khalid Ali Al Bustani. “The MoU we have signed with the Ras Al Khaimah Chamber of Commerce and Industry creates a model for working closely with the Authority towards promoting awareness of the UAE tax system. It also allows us to identify the challenges and opportunities in the business community, and devise innovative plans and solutions for a sustainable tax sector within the country’s integrated infrastructure.”

For his part, H.E. Muhammad Hassan Al-Sabab noted that with this agreement and its expected future outcomes, the Chamber is reaffirming its commitment to supporting the FTA’s pioneering vision in the tax sector. “The Chamber will seek to provide all necessary resources and submit suggestions for optimising the management of these procedures, which support all of our members, as well as the small and medium-sized enterprises (SMEs) sector in the UAE, and Ras Al Khaimah, in particular,” H.E. Al-Sabab added. “To that end, we will work to organise conferences, seminars, and specialised workshops, in coordination with the Federal Tax Authority, in order to enhance tax awareness among entrepreneurs and investors and educate them about tax procedures and laws, in line with the FTA’s recently launched Muwafaq Package initiative. Moreover, the agreement calls for both parties to be invited to economic events and trade delegations, as they become available.”

Under the terms of the MoU, the two entities will collaborate on the Muwafaq Package initiative, launched by the Federal Tax Authority to support SMEs in the UAE, focusing specifically on Ras Al Khaimah. It also calls for organising conferences, seminars, and specialised workshops that correspond to the areas and interests of each party.

Furthermore, the collaboration between the two parties will include inviting experts from the Federal Tax Authority to deliver lectures to entrepreneurs, business leaders, and investors in the business community of Ras Al Khaimah. This will further support the strategic plan of the FTA’s Awareness and Education Department to enhance tax awareness within the business community. Additionally, the partnership includes participation in economic events and trade delegations, based on availability and suitability for both parties.