Sunday 18 August 2019

UAE named vice-chairman of BRI unit

UAE, April 22, 2019

The UAE has been elected as vice chairman of the board of directors of the Belt and Road Initiative Tax Administration Organisation, said a report.

This came during the Belt and Road Initiative Tax Administration Cooperation Forum, which concluded on April 20 in China, where Khalid Ali Al Bustani, director general of the Federal Tax Authority (FTA), led a UAE delegation to the three-day event, reported state news agency Wam.

Representatives from FTA and the Ministry of Finance joined the delegation to the conference, during which the UAE delegates sought to introduce attendees to the country’s tax system and strengthen international cooperation in the sector.

They took part in the meeting of the BRI Supervisory Board, during which a memorandum of understanding (MoU) was signed to participate in the forum and elect the chairman and their vice chairmen. The UAE was elected as vice chairman of the board, represented by Al Bustani.

The forum explored ways to foster greater cooperation among BRI countries to create an environment that catalyses economic development, offers advanced services to taxpayers, enhances international economic cooperation, and removes obstacles blocking cross-border trade and investment, in addition to fostering a better exchange of expertise and information among all BRI countries.

The delegation also participated in several meetings at the forum, which brings together all member states of the board, as well as observer countries, international multilateral organisations, tax experts and representatives of international private companies.

The meetings led to the launch of five major initiatives to support international cooperation on taxes among BRI countries.

First, provide solutions that raise awareness of tax laws to ensure compliance, and second, develop mechanisms to resolve tax disputes.

Third, support capacity building in tax authorities in BRI countries by establishing joint training centres to coach employees in these departments, where four centres have been announced as a first stage, located in Macau, mainland China, and Kazakhstan, and providing training is in three languages : Chinese, English, and Portuguese.

The fourth initiative seeks to facilitate compliance for taxpayers by reducing the number of documents required and providing information, while the fifth and final initiative seeks to develop tax systems by automating them.

During the forum’s discussions, the Supervisory Board adopted a plan of action to ensure cooperation among tax authorities in BRI countries in these five sectors. The board also adopted a mechanism to guide communication with the private sector regarding taxes to achieve the highest levels of compliance, added the report.


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