Emaratalyoum, 17 July 2024: The Federal Tax Authority is studying the implementation of a number of future projects, including managing the tax system in the country using artificial intelligence.

The authority is also studying the establishment of offices to provide services to taxpayers at the state level, while a parliamentary report by the Authority called for the necessity of accelerating the implementation of the joint project with the Finance Ministry regarding electronic invoicing.

A parliamentary report has stated that VAT is one of the most common consumption taxes worldwide, applied as “value-added tax” or “goods and services tax” in over 150 countries, including all 29 EU member states, Canada, New Zealand, Australia, Singapore, and Malaysia.

The report has confirmed that tax revenues contribute to the continuity of providing distinguished, high-quality government services that keep pace with the country’s advanced position in global competitiveness indicators.

According to the parliamentary report, VAT was implemented in the country in coordination with the GCC countries, as they worked on this framework jointly, especially since they are linked by an economic agreement and a customs union.

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