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FTA, UAE orients NBR, Bahrain on the Digital Tax Stamp Scheme
Dubai April 19, 2022:
In a joint virtual meeting between officials from the Federal Tax Authority (FTA) and the National Bureau for Revenue (NBR), an official delegation from the Kingdom of Bahrain was oriented on the UAE’s Marking Tobacco and Tobacco Products Scheme.
Implemented by FTA, the Digital Tax Stamps system enables the tracking of tobacco products electronically to combat tax evasion, protect consumers from fraud, prevent the sale of illegal products, and ensure the collection of due taxes on tobacco products sold in the market. FTA’s representatives briefed the attendees on the objectives, scope and steps for implementing the various phases of the Tobacco Products Marking Scheme.
His Excellency Khalid Ali Al Bustani, Director-General of the FTA, discussed ways to enhance cooperation, develop relations and work together to build expertise in the field of taxation. His Excellency opined that the meeting reflects the strong bilateral relations between the two countries, as well as their commitment to strengthen their partnerships in the field of taxes by exchanging information and experiences. He added ‘These meetings are essential to enhance cooperation between tax authorities in neighboring countries and to benefit from the regulations applied in the tax sector.’