Saturday , May 26 2018

UAE, OECD to enhance strategic cooperation

DUBAI / WAM

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, met with Jose Qngel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), to discuss and further strengthen the strategic partnership between the two sides.
Obaid Al Tayer thanked the OECD Secretary-General for the constant support provided, specifically related to the Memorandum of Understanding signed between the two parties to build a partnership for tax purposes. This step has led the UAE to become a training hub for the MENA region on the exchange of information and in building a network of qualified tax experts. The UAE joined membership of the Global Forum on Transparency in 2010 and has since participated in the Forum’s numerous meetings.
Al Tayer said, “The UAE continues its efforts to implement all plans to boost cooperation with the international community in areas of tax information. The UAE also affirms its commitment to implement the agreed financial reforms, specifically VAT. This tax is an important addition to the economic diversification policies adopted by the country, and supports the sustainable social-economic development.”
During the meeting, Gurria thanked the UAE, and MoF, for the constant and fruitful cooperation. The OECD Secretary-General also praised the UAE’s role in exchanging information for tax purposes and its commitment to the Organisation’s standards in this regard, and reaffirmed OECD’s commitment and full readiness to cooperate with the country in various related fields.
The meeting covered a number of topics, foremost of which were the global economic conditions and developments in the field of taxation, as well as the UAE’s financial reforms as aimed at the growth of public finances in the country. Al Tayer also highlighted the UAE’s advanced infrastructure and its value in supporting sustainable economic growth.

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