FTA launched Muwafaq Package to help small & medium-sized enterprises (SMEs) in UAE by creating the necessary conditions for their growth and development. The UAE government is committed to protecting and supporting its citizens in various aspects of their lives. One of the ways the government has achieved this is by providing financial assistance to those in need, especially during difficult times. One such initiative is the Muwafaq Package, which is a comprehensive financial assistance program that offers a range of benefits to eligible UAE nationals.

Objectives of the Muwafaq Package

The Muwafaq Package is a government-led initiative aimed at supporting UAE nationals who are facing financial difficulties. The package aims to provide financial assistance to eligible nationals and help them meet their basic needs. The program also aims to reduce the financial burden on families and improve their standard of living.

1. Encourage efficient service delivery.

2. Improve SMEs' compliance with tax rules and procedures.

3. Improve compliance in the application of tax processes (e.g., timely completion of tax registration,

4. Facilitate conducting business for enterprises.

5. Filing tax returns on time, making payments on time, meeting audit requirements, and so on).

Eligibility Criteria

To be eligible for the Muwafaq Package, applicants must be UAE nationals who meet the following criteria:

1. Registration with the Ministry of Community Development is required.

2. Must be residing in the UAE.

3. Must not have a monthly income exceeding AED 15,000.

4. Must not own any property or a car registered under their name.

5. Must not have received any other government social welfare support.

Benefits of the Muwafaq Package

The Muwafaq Package provides a range of benefits to eligible UAE nationals. These benefits include:

1. Giving SMEs priority for Federal Tax Authority Services: Whether it is tax registration, business setup or any services offered by FTA, Small Businesses gets the first priority.

2. Tailored business sessions and workshops: FTA conducts the most tailored business sessions and workshops for businesses that need a custom approach.

3. Educational material for tax procedures: Making your business compliant with tax is one of the prior goals. So, small businesses get educational material for taxes like Excise Tax, VAT and Corporate Tax.

4. Provides tax accounting software at affordable prices: FTA makes your business life easier through affordable accounting software.

5. Tax Agents discount: You can approach FTA Registered Tax Agents in UAE at a discounted price!

6. Appointing relationship managers for SMEs: They help SMEs by providing personalized financial advice, helping with banking transactions and providing support for business growth.

SOURCE - https://muwafaq.tax.gov.ae/