The Investment Authority and the Tax and Customs Authority Approve New Procedures to Activate the “One-Stop Shop
Today’s meeting, chaired by the Chairman of the General Investment Authority, Mohammed bin Ishaq, discussed mechanisms for granting additional facilities to investment projects and activating tax exemptions guaranteed under the Investment Law.
The meeting, which included the Technical Undersecretary of the Tax and Customs Authority, Waheed Al-Kabsi, reviewed a package of executive procedures aimed at improving the investment environment and removing obstacles for new and existing projects, thus ensuring the smooth flow of services provided to business owners and investors.
The meeting approved granting the tax office located within the Investor Services Center (“One-Stop Shop”) at the Authority full authority to implement tax procedures related to investors, ensuring the swift completion of transactions in one location.
It also approved the formation of a technical team between the Authority and the Tax and Customs Authority to complete the networking procedures, ensuring institutional integration, raising performance efficiency, and enhancing the principle of digital transparency. During the meeting, the Chairman of the Investment Authority emphasized that strengthening the partnership with the Tax and Customs Authority is a cornerstone for developing the business environment.
He noted that the Authority is working diligently to automate and standardize procedures to enable investors to easily obtain legal exemptions, thus serving the national interest, supporting economic stability, and attracting capital.
The meeting was attended by the Head of Operations and Investment Services, Mohammed Al-Farzai, and the Head of Planning and Development, Abdulrahman Al-Mahbashi.
