FTA corporate tax awareness initiatives reach over 15,700 participants in 2024
FTA's Corporate Tax Awareness Initiatives Reach Over 15,700 Participants in 2024
The Federal Tax Authority (FTA) in Abu Dhabi, UAE, has reported a significant increase in participation for its corporate tax awareness initiatives in 2024. A total of 15,713 participants attended these events, which include both in-person and virtual sessions across all emirates. This marks an 8.7% increase from the 14,455 participants in 2023.
In 2024, the FTA introduced several specialized programs to educate businesses about corporate tax regulations and obligations. As the number of corporate tax registrants grows, the FTA has intensified efforts to support and encourage voluntary compliance with the UAE's Corporate Tax Law, effective since 2023.
The number of FTA-sponsored corporate tax awareness events rose to 70 in 2024, compared to 49 in 2023, reflecting a 42.9% increase. Additionally, participant satisfaction improved, with 96% expressing approval of the content and informative nature of the events, up from 94% in 2023.
Doubts Revealed
FTA
FTA stands for Federal Tax Authority. It is an organization in the United Arab Emirates (UAE) that manages and collects taxes from businesses and individuals.
Corporate Tax
Corporate tax is a type of tax that companies have to pay on their profits. It is like how people pay income tax on the money they earn.
Abu Dhabi
Abu Dhabi is the capital city of the United Arab Emirates (UAE). It is one of the seven emirates that make up the UAE.
UAE
UAE stands for the United Arab Emirates. It is a country in the Middle East made up of seven regions called emirates, including Dubai and Abu Dhabi.
Compliance
Compliance means following the rules or laws. In this context, it means businesses are following the tax laws set by the UAE government.
Awareness Initiatives
Awareness initiatives are programs or activities designed to inform and educate people about a specific topic, in this case, corporate tax laws.
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