The Federal Tax Authority (FTA) of the United Arab Emirates recently took part in the 5th Forum on Cooperation among Tax Administrations related to the Belt and Road Initiative, held in Hong Kong.
Spanning three days, this forum brought together representatives from various tax authorities, international organizations, tax specialists, and numerous global enterprises.
Throughout the sessions, participants deliberated on strategies to bolster tax cooperation among countries and regions involved in the Belt and Road Initiative. The discussions aimed to foster an environment conducive to economic growth and collective efforts that would maximize opportunities for enhancing tax efficiency, optimizing systems, and advancing digital transformation.
In a statement released today, the FTA highlighted the significance of its participation in the forum, emphasizing the need to acquire knowledge about cutting-edge technologies, policies, and procedures, as well as mechanisms for their implementation in alignment with best practices. The FTA also acknowledged the forum’s crucial role in creating innovative and effective frameworks for international collaboration and the sharing of experiences and information between tax authorities within the Belt and Road Initiative.
The authority reaffirmed its dedication to expanding cooperative avenues and coordination with relevant entities in the tax domain.
The Federal Tax Authority noted that the forum acts as a vital platform for tackling emerging tax issues based on established best practices. It also facilitates the implementation of agreed-upon mechanisms outlined in the Nur-Sultan Action Plan (2022-2024). This plan focuses on tax certainty, the digitalization of tax administration, improving the tax environment, and enhancing capacities in the field.
