Support Youth With Newly Introduced UAE Tax Incentives

When living in the UAE, tax is probably the last thing you think about.

But that doesn’t mean it’s not important – and new measures look set to be particularly beneficial for young people.

That’s because the Federal Tax Authority (FTA) has launched the “Muwafaq Package” initiative aimed at supporting youth in the small and medium-sized enterprises sector.

The package aims to provide tax incentives by offering small and medium-sized enterprises a set of customised services.

It’s intended to support the Government Accelerators Project, which is meant to make the UAE the world’s best and most dynamic economy.

The Muwafaq Package can be accessed through the digital tax services platform EmaraTax.

Khalid Ali Al Bustani, Director-General of FTA, said the package is about empowering young entrepreneurs.

It will include training programmes aimed to raise financial awareness across the UAE, while allowing the FTA to identify future challenges the sector may face.

The measures all serve to deliver on the vision set out by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.