President issues federal decree to transfer

President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a federal decree No. 84 of 2017 to transfer and appoint Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations to the position of Director-General of the Federal Tax Authority, FTA, and the rank of an Undersecretary at the 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.

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and FTA 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 has made valuable contributions to supporting the Ministry of Finance’s ability to manage the UAE’s financial policies. He also played a key role in launching a number of projects and initiatives which enhanced the Ministry’s services and overall performance. 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."

Al Bustani possesses vast practice knowledge in the financial policy field, where he previously held the role of Assistant Undersecretary for International Financial Relations at the Ministry of Finance. He made numerous valuable contributions which led to elevating the Ministry’s operations during his time there, where he was exposed to various areas, including financial management, international financial relations, and technology and data. During his time at the Ministry, Al Bustani 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.

Al Bustani expressed his happiness and humble thanks to the UAE’s wise leadership for this great national responsibility he has now been entrusted with. He also expressed his appreciation to H.H. Sheikh Hamdan bin Rashid Al Maktoum and the Authority’s Board of Directors for their valuable recommendation to appoint him to the role of Director-General of the Federal Tax Authority. He revealed that he will use his extensive experience to achieve the FTA’s objectives, and enhance its role as a leading national institution that serves the growth and development of the national economy, and provides the best services to its clients.

The appointment comes following President His Highness Sheikh Khalifa bin Zayed Al Nahyan's issuance of the Federal Decree Law No. 13 for the year 2016 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.

Al Bustani has held several positions at the Ministry of Finance, since he joined in 1980. Prior to his current role as Assistant Undersecretary for International Financial Relations, he served as the Assistant Undersecretary for Resources and Budget, overseeing the International Financial Relations Department, Budget Management and Revenue Development Department. In addition to his role and responsibilities at MoF, Al Bustani held the position of Director General of the Federal Customs Authority from 2009 to 2015.

During his career at MoF, Al Bustani participated in various projects including: the establishment of the General Pension and Social Security Authority, GPSSA, the e-Dirham system, the Federal Customs Authority, Al Etihad Credit Bureau, the Federal Public Debt Law, Mortgaging of Moveable Properties as Security for Debts Law, and the Committee responsible for overseeing the establishment of the tax system in UAE.

Al Bustani received a Bachelor’s Degree in Computer Engineering with honours from Boston University, USA, in 1980 and holds an MBA from Leicester University, UK, 2002.

Source: Wam