The efficiency of the tax system is an indication of the strength of the competitiveness of the economy

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, said through the X platform: “I headed today a meeting of the Council of Ministers in the Palace of Al -Watan in Abu Dhabi … during which we decided to develop the mechanisms of legislation in the UAE through the establishment of an office for legislative intelligence within the Council of Ministers … The office will develop an integrated legislative map for all federal and local legislation in the state, and link them through artificial intelligence With all judicial rulings, executive procedures and services provided to the public .. The new system will provide monitoring the impact of new legislation on the public and the economy on a daily basis through integration with the huge data .. and the proposal of legislative amendments continuously .. The new system will be linked to global research and development centers to follow the best global policies and legislation and how it can be used in the UAE.

His Highness added: “We reviewed today the developments of the tax system in the country, which supports financial sustainability in the state and ensures the consolidation of our global competitiveness … The state comes in the fifth place globally in the efficiency of tax policies and the second globally in combating tax evasion according to the annual report of the IMD Institute in Switzerland.”

His Highness explained: “These efforts culminated in the team in registering 520 thousand companies in the corporate tax and 470 thousand registered in the value -added tax.”

His Highness added: “The tax system is an important part of completing the economic infrastructure of the future … and the efficiency of this system is an indication of the strength of the competitiveness of the economy … and the tax culture is a new culture that has been successfully established during the last period.
A greeting of appreciation and thanks to the work team, which works to build a financial sustainability for the development process in the UAE by building a tax system of global efficiency.