Muwafaq Package: UAE SME Tax Compliance Initiative Gains Momentum with 54,000 Subscribers

UAE, 15 May, 2024 : The Federal Tax Authority (FTA) announced a significant uptick in registrations for the Muwafaq Package, aimed at facilitating tax compliance among small and medium-sized enterprises (SMEs). Since its launch in March 2023, the Package has attracted nearly 54,000 subscribers, marking a 4.5% increase from its inception.

The FTA disclosed that over the past year, outgoing calls to Muwafaq Package subscribers reached 43,990, with the platform recording 1,660 visits and 6,400 clicks, resulting in 142 appointments booked through the platform.

Expressing satisfaction with the Package's performance, FTA Director General His Excellency Khalid Ali Al Bustani emphasized its success in providing innovative tax solutions tailored to SMEs. He underscored the vital role SMEs play in the national economy and highlighted the Package's contribution to supporting youth entrepreneurship, in line with the leadership's directives.

The Muwafaq Package offers various benefits to SMEs, including training programs on tax procedures and awareness-raising initiatives on tax legislation, crucial for enhancing compliance among this significant sector.

The FTA also noted growing interest in promotional offers for Tax Agents and Tax Accounting Software provided through the Package, with 339 SMEs expressing interest and 56 benefiting from Tax Agent offers. Additionally, 128 Tax Agents and five Tax Accounting Software Providers are offering specialized deals for Muwafaq Package registrants.

Furthermore, the Authority organized 12 introductory workshops across all emirates, attended by more than 1,730 SME representatives, recording an 89% satisfaction rate among attendees.

Source : www.tax.gov.ae