Federal Tax Authority Participates in the Cooperation Forum of the Belt and Road Initiative in Hong Kong

Hong Kong, 4 October 2024: The United Arab Emirates, represented by the Federal Tax Authority, participated in the 5th Forum on Cooperation between Tax Administrations for the Belt and Road Initiative, held in Hong Kong from September 24 to 26, 2024.

The agenda of three-day forum was attended by representatives from tax authorities, international organizations, tax experts, and numerous companies from around the world. During the forum sessions, ways to enhance tax cooperation mechanisms between Belt and Road countries and regions were discussed, aiming to create an environment that supports economic growth, along with joint coordination to maximize opportunities for improving tax efficiency, optimizing systems, and expanding digital transformation.

In a press release today, the Federal Tax Authority emphasized the importance of participating in this forum to learn about advanced technologies, policies and procedures followed and mechanisms for their application in accordance with best practices, and pointed to the role of the forum in establishing innoVATive and effective mechanisms for international cooperation and coordination, and exchanging experiences and information between tax authorities within the framework of the "Belt and Road".

Federal Tax Authority reiterated its commitment to expanding avenues of cooperation and coordination with relevant entities in the tax field. Federal Tax Authority explained that the forum serves as an important platform for addressing emerging tax challenges, based on best practices, and for implementing agreed-upon mechanisms under the Nur-Sultan Action Plan (2022-2024) regarding tax certainty, the digitalization of tax administration, improving the tax environment, and enhancing capacities in this field.