FTA Launches New Tax Program

1)   What

The "Muwafaq" package offers set of facilities and privileges specifically catering to small and medium enterprises (SMEs).

2)   Who can register for Muwafaq Package?

SMEs can register for the package. Below notification will appear on the EMARATAX portal if the company is one of the SMEs eligible to register for the “Muwafaq Package.”

3)   Notification for Eligible SMEs

Below is the screenshot from the portal for those eligible to register:

4)   Objective of Muwafaq Package:

• Encourage pro-active service delivery.
• Improve compliance with tax procedures (e.g., timely registration, filing returns, settling payments, meeting audit requirements).
• Streamline business operations for companies.
   

5)   Benefits of the Muwafaq Package

• FTA will assign a relationship manager to support the SMEs
• Tailored awareness sessions and workshops
• Special discounts on tax agents
• Educational programs on several tax areas
• Special discounts on accounting software
• Option to access accounting software developed in collaboration with Etisalat
  
  

Key Takeaways:

• The evolving tax system in the UAE has prompted the FTA to increase awareness among SME’s through increased awareness and taxpayer-friendly programs.
• Consequently, the companies should ensure compliance with the tax laws, considering the increased awareness program initiated by the FTA