UAE : FTA launches whistleblower program for tax violations - Hallmark Auditors

 



The Federal Tax Authority (FTA) has launched, its `whistleblower` application for tax violations and evasion. The new application named Raqeeb is a reporting mechanism for tax evasion and violations, that's already powerful from April 15. It goals to elevate tax compliance withinside the United Arab Emirates. 

  

 It additionally allows the authority to affirm the reviews and provide economic rewards to informants while sure situations are met. Those reporting the alleged tax violations deliver their call to the Federal Tax Authority, however their identification will now no longer be disclosed. Complainants need to additionally signal a non-disclosure agreement. According to a Federal Tax Authority document, individuals who record tax violations can be eligible to acquire economic awards. 

  

 There are sure situations related to the economic rewards for the informants which can be summarised below: 

  

 ●    The facts supplied is credible and now no longer acquired via way of means of FTA previously; 

  

 ●    The whistleblowing shape is crammed as it should be and completely; 

  

 ●    The tax quantities gathered from the mentioned enterprise exceed AED 50,000; 

  

 ●    The mentioned character has exhausted all sorts of objections and appeals. 

  

 The FTA has launched a manual to assist informants apprehend the whistleblowing application and record enterprise practices that violate the tax procedures. This manual additionally offers the info required withinside the whistleblowing shape and the situations that need to be met for an informant to be eligible for a economic reward. 

  

 The advent of the Whistleblower application has a great effect on groups in UAE. It forces organizations to set up and significantly rethink the tax compliance framework with its demanding situations of reporting complexities and inaccuracies in facts management, and audits with tremendous consequences for non-compliance.


For any Corporate Services Assistance, hook up with us.

https://www.hallmarkauditors.com/

Location: Dubai - United Arab Emirates

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