Phase I of FTA's CT awareness campaign sees momentous input

The Authority issued a press statement explaining that the campaign, which aims to provide continuous knowledge support to all relevant taxpayers and stakeholders, formed part of the FTA’s efforts to ensure the accurate and seamless implementation of Corporate Tax, in collaboration with relevant entities.

The first phase of the campaign included 48 in-person and virtual workshops, which welcomed a total of approximately 13,600 participants, including taxpayers from various business sectors and tax sector stakeholders.

The FTA noted that as part of the campaign, 39 virtual workshops were organised to introduce Corporate Tax and clarify the requirements and procedures for Corporate Tax registration in both Arabic and English.

The sessions were delivered through the educational platform launched this year on the FTA official website, which offered weekly workshops and can be accessed by clicking the following link: Virtual Workshops Platform for Corporate Tax.

Furthermore, the Authority explained that the first phase of the Corporate Tax awareness campaign also included nine in-person workshops across all seven emirates. The workshops concluded with a session on the ‘General Principles on Taxation of Corporations and Businesses’, held in Dubai this month (December 2023), and organised by the Federal Tax Authority in collaboration with relevant government and private-sector entities.

FTA Director-General Khalid Ali Al Bustani noted that the first phase of the comprehensive Corporate Tax awareness campaign was a tremendous success, generating significant interest and interaction from all stakeholders involved in the implementation of Corporate Tax.

The FTA is set to continue with its awareness efforts and will be organising the second phase of the comprehensive Corporate Tax awareness campaign in 2024. Phase two will focus on various specific topics, raising awareness about legislation, requirements, and procedures for precise compliance with Corporate Tax obligations, offering educational programmes suitable for all relevant groups, and incorporating the latest technologies in this field to ensure easy access to information and prepare the business community to efficiently implement Corporate Tax Law.

The Authority went on to note that during the workshops, its tax experts review the fundamentals of the Corporate Tax Law, along with its related policies, legislative procedures, timeline, and flexible implementation procedures. They underline the criteria to determine who would be subject to Corporate Tax and who would be exempt, explaining other concepts, such as taxable income, tax rates, and tax periods. Moreover, the FTA experts outline the facilities offered for startups and small businesses, Corporate Tax in free zones, business restructuring relief, and tax losses relief, in addition to highlighting transitional rules and provisions for tax groups, among other topics, before answering questions from participants.