UAE tax authority announces whistleblower program
A major financial center in Dubai also recently launched a whistleblower mechanism as the Emirates seeks to improve financial transparency.
The Emirati Federal Tax Authority today announced the launch of a whistleblower program, effective immediately, the official Emirates News Agency reported.
The new program, named Raqeeb, is a reporting mechanism for tax evasion and violations. It aims to raise tax compliance in the United Arab Emirates.
Raqeeb requires that those reporting the alleged tax violations give their name to the Federal Tax Authority, but their identity will not be disclosed. Complainants must also sign a non-disclosure agreement. Those who report tax violations will be eligible to receive monetary awards, according to a Federal Tax Authority document.
Why it matters: The UAE is working to change its reputation as a safe haven for financial wrongdoing after several incidents that reflected poorly on the Gulf state.
