In order to provide cutting-edge digital solutions that improve the user experience for real estate sales parties in the emirate while guaranteeing compliance with the applicable tax rules, the Federal Tax Authority (FTA) and the Dubai Land Department (DLD) have reinforced their strategic relationship.
Through data sharing through electronic connectivity outlets, the partnership’s first phase was finished. The other digital elements are now being developed and will be revealed in the near future.
On the fringes of “GITEX Global 2024” at the Dubai World Trade Centre, the Federal Tax Authority and the Dubai Land Department announced their cooperative partnership.
By collecting the relevant VAT on transactions of real estate and commercial land, this effort aims to create a more efficient system for guaranteeing tax compliance. This will be accomplished by combining the processes for real estate transactions involving VAT, classifying services, classifying different kinds of properties, and identifying the persons involved in the transaction. It will also bring real estate operations and procedures into line with the Federal Tax Authority’s electronic systems.
“This cooperative effort opens the door for further collaboration between the FTA and the Dubai Land Department,” said Khalid Ali Al Bustani, Director-General of the FTA. This partnership facilitates the delivery of seamless digital services through creative models that highlight the leadership and excellence of the government’s work ecosystem, all within a clear and efficient framework. Furthermore, it increases value by saving time, and effort while simplifying procedures.
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