The Federal Tax Authority (FTA) has signed a membership agreement with Etihad Credit Bureau to strengthen bilateral cooperation and benefit from the Bureau’s services and credit information database to enhance tax compliance in the UAE.
Etihad Credit Bureau is the federal entity mandated to regularly collect credit information from financial and non-financial institutions in the UAE.
The agreement intends to establish an electronic link between the two entities, enabling the Authority to directly access credit reports provided by the Bureau, using them to strengthen compliance with tax legislation based on authenticated and accurate information and assessments.
Khalid Ali Al Bustani Director General FTA
“The membership agreement we have signed with Etihad Credit Bureau sets an effective framework for bilateral cooperation, which, in turn, serves to strengthen efforts towards maintaining high rates of tax compliance in the UAE. We strive to achieve this objective by establishing an electronic link, allowing the Federal Tax Authority to directly benefit from the Bureau’s distinctive services and database, where we can refer to credit reports related to taxpayers, if needed, to ensure accuracy in tax procedures. This initiative forms part of the Authority’s plans to enhance its strategic partnerships with relevant government and private-sector entities.”
“It enables us to rely on efficient procedures to perform tax audits, ensure the accuracy of Tax Returns, and bring added value by saving time and effort. It also allows us to benefit from flexible data communication processes, adhering to the highest standards of security, confidentiality, and data accuracy. The Authority is committed to continuously developing its operational plans to ensure tax compliance according to the highest governance and transparency standards,” Mr. Al Bustani added.
The agreement allows authorized personnel from the Federal Tax Authority to access credit reports of taxpayers through Etihad Credit Bureau’s database, which facilitates and expedites tax audit procedures and ensures the accuracy of data in Tax Returns. Direct digital procedures using an electronic link between the Authority and the Bureau provide immediate and accurate updates on the credit status of taxpayers.
Mr. Marwan Ahmad Lutfi, Director-General of Etihad Credit Bureau, stated that, “We are delighted to collaborate with the Federal Tax Authority through this agreement. One of our goals is to empower government entities with deeper insights, supporting the enhancement of credit, collection, and auditing policies through providing invaluable credit information and payment behavior patterns on companies and individuals.”
