FTA launches Hackathon to encourage innovators in the tax sector

As part of its agenda to participate in the month-long initiative ‘UAE Innovates 2024’, which will take place throughout the month of February, the Federal Tax Authority (FTA) has opened the door to participate in its Hackathon event .

With the HackathonThe Authority aims to develop innovative technological solutions to the challenges facing the tax sector, in addition to strengthening cooperation and partnership between government, educational and private institutions to achieve sustainable impact.

He FTA invited innovators to participate in the event, which offers them the opportunity to generate pioneering solutions that address the challenges faced by the tax sector in various aspects, including raising tax awareness in the community; employ advanced technology to streamline procedures, such as the filing of tax returns for small and medium-sized businesses (SMEs); and fight against tax evasion.

He Federal Tax Authority has begun receiving projects for the Hackathon through its website, noting that submissions will continue to be accepted until 23 of February, after which the Authority will organize a special event on February 29 at the Dubai Creative Hub – Emirates Towers, in collaboration with world-leading software developers SAP, the FTA’s strategic partner in digital transformation.

The Authority noted that participants will have the opportunity to showcase their ideas, projects and solutions during the event, after which the three most pioneering solutions will be honored and their owners will be able to explore prospects for possible collaboration with the Federal Tax Authority.

Khalid Ali Al Bustani, general director of the FTAsaying:

“The projects and initiatives that we will implement throughout the month of February for UAE Innovates 2024 aim to support the digital transformation strategy of the Federal Tax Authority, by using cutting-edge technologies to create innovative solutions that drive this transformation and pave the way. way for innovators to contribute to the development of the UAE tax system.”

“The Hackathon event is an ideal platform to promote an innovation-friendly environment, inspire innovators and highlight outstanding projects based on advanced technologies, including big data, artificial intelligence and blockchain, among others.”

Al Bustani aggregate.

“This, in turn, helps create a flexible and proactive tax environment, while improving and streamlining tax procedures, driving efficiency across the tax system and delivering valuable benefits to stakeholders and taxpayers across the country”.

He Hackathon targets a select group of innovators, such as developers and programmers with a wide range of technological experience and programming skills, as well as university students, entrepreneurs and business owners.

The event also includes representatives from government entities and communities with deep knowledge of tax policies and financial legislation, in order to contribute to the development of a clear legal framework for innovative tax solutions.

He FTA has established precise criteria to evaluate and select the winning solutions in the Hackathon, including creativity, innovation and the use of data to design solutions, in addition to the quality of the solution, its feasibility, the use of technology, the benefits that provides and its potential impact. Contestants must design the solution and present a prototype to work with, along with a viable plan and a detailed presentation.

News source: Emirates News Agency