The UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a federal decree appointing Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations, as Director General of the Federal Tax Authority (FTA).

He will have the rank of an Undersecretary of the Finance Ministry.

The Director General of the FTA will be responsible for managing the authority's business, and developing policies to achieve its strategic objectives, which include providing the national economy with new income sources to support its sustainable development, said a statement.

HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, and Federal Tax Authority chairman, said: “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. It also serves as a step in the right direction in ensuring that the new tax structure is implemented in the best, most efficient manner in the UAE through enhancing the Federal Tax Authority’s role in carrying out its responsibilities and assigned goals.

Al Bustani’s appointment follows HH Sheikh Khalifa issuing the Federal Decree on the establishment of the Federal Tax Authority, as an independent legal entity possessing the necessary legal capacity with financial and administrative independence.

Al Bustani will lead the FTA's directives on data collection related to federal taxes and fines; the establishment of taxpayer records, as determined by existing tax laws; and the issuance of necessary directives and clarifications to taxpayers regarding their obligations towards federal taxes and fines, in accordance with the mechanisms issued by the FTA’s Board of Directors. - TradeArabia News Service