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FTA Launches Muwafaq Package Initiative to Facilitate Doing Business among SMEs
Dubai April 03, 2023:
The Federal Tax Authority (FTA) has launched the Muwafaq Package initiative to facilitate doing business and tax compliance in the small and medium-sized enterprises (SMEs) sector offering them customised services, incentives and privileges.
The Authority announced that the initiative forms part of the FTA’s strategy to support the Government Accelerators Project, launched by the UAE government as part of its efforts to embody the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. It aims to apply the new approach to government work and implement major and rapid transformational projects that focus on building the world’s most dynamic economy, spearheading major transformations across various areas of work in the economy.
The Authority announced that the Muwafaq Package could be accessed by SMEs registered in the tax system in the UAE through the digital tax services platform EmaraTax. It also stated the Muwafaq Package offers innovative tax solutions for SMEs registered in the tax system, as well as educational materials about tax systems. The Package was tailored to SMEs and designed to empower the people behind these projects to be a driving force for the national economy and promote entrepreneurship and innovation.