President Sheikh Khalifa appointed Khalid Al Bustani the Director-General of the Federal Tax Authority and the rank of an Undersecretary in the Ministry.
The former assistant undersecretary for international financial relations will now be responsible for managing the FTA and developing policies to achieve its objectives, which include providing the national economy with new income sources to support its sustainable development.
On Monday Sheikh Khalifa issued a landmark tax law for the UAE which sets the foundations for the planned tax system.
The Tax Procedures Law regulates the administration and collection of taxes and defined the role of the Federal Tax Authority.
“The appointment of Khalid Al Bustani is a key decision in supporting efforts to build Emirati skills and capabilities in all the country’s important sectors," said Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance, and Federal Tax Authority Chairman.
He said Mr Al Bustani's appointment would ensure that the new tax structure would be implemented efficiently in the UAE.
"We have complete confidence in Al Bustani’s abilities to achieve the Authority’s strategic goals, in line with the Government’s overall vision to promote sustainable and comprehensive growth for the UAE,” Sheikh Hamdan said.
Mr Al Bustani previously held the role of Assistant Undersecretary for International Financial Relations at the Ministry of Finance.
During his time at the Ministry, he also managed the international financial relations sector and the UAE’s financial relations with the GCC, the Organisation for Economic Co-operation and Development, regional and international organisations and funds, Global Forum on Transparency and Exchange of Information, in addition to overseeing negotiations and agreements relating to the avoidance of double taxation, and agreements pertaining to protecting and encouraging investments, according to a statement from the Ministry of Finance.
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