As part of its contribution towards implementing the performance agreements of various federal government entities and launching projects to move the country towards the future and boost its competitiveness, the Federal Tax Authority (FTA) has launched Muwafaq Package initiative to facilitate business practices and tax compliance for the small and medium-sized enterprises (SMEs) sector. The package is a major and rapid transformational project, launched to make a positive impact across small and medium-sized enterprises (SMEs) sector within short periods of time, and to usher in a new approach to government activities

The Muwafaq Package provides innovative solutions to facilitate tax compliance for SMEs, offering quick, easy, and accurate procedures, specifically tailored to this key sector, and designed to empower it to be a driving force for the national economy. This, in turn, serves to enhance the culture of entrepreneurship and innovation, thus empowering the youth and engaging them in all sectors, in addition to establishing a tax environment that encourages self-compliance, in accordance with the best standards of governance and transparency

The initiative resonates with the 'We the UAE 2031' vision, which constitutes a national action plan to steer the UAE as it continues its development journey for the upcoming decade and towards the next 50 years, advancing its position as a global partner and an attractive and influential economic centre, and highlighting its successful economic model

The Muwafaq Package offers users a set of incentives and privileges, including access to tax accounting programmes and software at competitive prices to ease financial burdens on SMEs; immediate appointments with tax relationship managers; special offers on Tax Agent services; priority for registered SME representatives when completing certain services; and awareness workshops for SMEs to introduce them to the FTA's services and its future directions and enhance their tax culture

On another note, the FTA can, through this initiative, identify the challenges that may face the sector by communicating directly with SMEs, which allow it to set up appropriate and effective mechanisms to overcome these challenges, and provide adequate solutions to ensure the continuous improvement of the Authority's services

The Federal Tax Authority is working to launch additional initiatives to support and assist the youth, in line with the wise leadership's directives to empower young people and expand their contribution; encourage entrepreneurs and SMEs, who play an essential role in the success of policies to diversify sources of income; and develop national human resources and capabilities

Initial indicators following the implementation of the Muwafaq Package confirm that there is significant demand for the package, as the initiative will help raise tax awareness among SME owners and provide proactive services for this sizable and important segment of the Authority's customers

,Khalid Ali Al Bustani

Director General, Federal Tax Authority