United Arab Emirates: The Federal Tax Authority (FTA) has announced that its corporate tax awareness initiatives have witnessed significant growth in 2024, with 15,713 participants benefiting from its awareness events.

This includes those attending in-person events across all emirates and virtual sessions hosted by the Authority, marking an 8.7 percent increase from 14,455 participants, in 2023.

In 2024, The FTA oversaw the introduction of numerous specialised awareness programmes aimed at educating businesses about corporate tax and the related regulations and obligations on eligible taxable persons.

As the number of corporate tax registrants grows, the Authority has intensified its efforts to meet the knowledge requirements of businesses, supporting and encouraging voluntary compliance with the UAE’s Corporate Tax Law, which came into effect in 2023.

To meet this demand, the number of FTA sponsored corporate tax awareness events rose significantly to 70 events, in 2024, compared to 49 in 2023, an annual increase of 42.9 percent.

In today’s announcement, the FTA also noted that a rise in participant satisfaction, with 96 percent expressing approval of the content and informative nature of these awareness events in 2024. This was up from 94 percent, in 2023.