The Federal Tax Authority (FTA) has stepped up its awareness initiatives this year, focusing on the importance, procedures, and requirements for complying with the Corporate Tax Law, effective for financial years starting on or after 1st June 2023.
In a press release, the FTA reported a rise in Corporate Tax awareness participation, with 8,220 attendees in the first half of 2024, compared to 7,520 in the same period of 2023—a 9.23 percent increase.
The FTA also noted a higher demand for its Corporate Tax activities, with participant satisfaction rates climbing to 97.5 percent in early 2024, up from 93 percent last year. The number of events grew significantly, with 40 in-person and virtual events held in the first half of 2024, up from 17 in the same period of 2023—an increase of 135.29 percent.
Khalid Ali Al Bustani, Director-General of the FTA, remarked that this expansion reflects the Authority’s commitment to fostering a tax culture, particularly around Corporate Tax. He emphasised that the FTA will continue its efforts to broaden the reach of its awareness activities through nationwide workshops and online resources.
Al Bustani also urged taxpayers to register for Corporate Tax within the specified deadlines, citing FTA Decision No. (3) of 2024, effective from 1 March 2024.
The FTA attributed the rise in awareness events and participation to new initiatives launched this year, including the second phase of its Corporate Tax awareness campaign. Key topics covered in 2024 events included Corporate Tax registration, creating tax groups, and compliance with the Small Business Relief programme aimed at supporting MSMEs by reducing tax burdens and compliance costs.
