(MENAFN- Mid-East Info) The Federal Tax Authority (FTA) has today announced the signing of a Memorandum of Understanding and Technical Cooperation (MoU) with the Federal Tax Service of Russia in the field of tax administration.

Taking place on the sidelines of the BRICS Tax Heads and Experts meetings held last week in Manaus, Brazil, which included the participation of delegations from tax authorities from member countries, the MoU was signed by H.E. Khalid Ali Al Bustani, Director-General of the Federal Tax Authority, and H.E. Daniil Egorov, Commissioner of the Federal Tax Service of Russia (FTS of Russia).

Signed in the presence of representatives from both authorities, H.E. Khalid Al Bustani noted that the MoU aligns directly with the FTA's plan to expand the scope of joint cooperation and strategic partnerships at both regional and international levels.

H.E. Al Bustani said:“This MoU contributes to enhancing bilateral cooperation between the two countries in the field of tax administration, a key part of the Authority's continuous efforts to establish solid foundations for effective cooperation with tax authorities in friendly and partner countries.

“Such agreements develop and facilitate the exchange of expertise through clear mechanisms and programmes for cooperation with other countries, which positively reflects on the performance and efficiency of tax systems and services.”

H.E. Al Bustani added:“The MoU between the FTA and the FTS of Russia aims to intensify joint cooperation in exchanging expertise in areas such as digital transformation of tax administration, development training programmes in the tax sector, coordination of work at the international level, and participation in organising seminars, sessions, working groups, and official visits related to tax administration in the UAE and the Russian Federation – as well as cooperation in other areas of mutual interest.”

On another note, the FTA Director-General, who headed the Authority's delegation to the BRICS tax meetings, also highlighted the importance of these meetings, pointing out that the group represents an effective mechanism to promote global prosperity. He further noted that the FTA's participation reflects its commitment to maintaining balanced strategic and economic relations, in order to keep pace with ongoing developments in the global system.

He concluded by emphasising the importance of the discussions and topics addressed during the BRICS meetings, noting their role in strengthening constructive cooperation in the tax field among member states. He highlighted that this cooperation aligns with future orientations and is driven by the exchange of expertise and information between tax authorities in the group's countries.

About Federal Tax Authority:

The Federal Tax Authority was established by Federal Decree-Law No. 13 of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures.

Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:

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