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MOF launches digital public consultation initiative ahead of release of Corporate Tax relevant legislation

Younis Haji Al Khoori, Undersecretary of Ministry of Finance.
Younis Haji Al Khoori, Undersecretary of Ministry of Finance.

The initiative is aimed at consulting with the business community and relevant stakeholders to refine and implement proposed UAE Corporate Tax regulations.



by

A Staff Reporter

Published: Sat 30 Apr 2022, 12:30 AM

Last updated: Sat 30 Apr 2022, 12:33 AM

The Ministry of Finance (MoF) launched the digital public consultation initiative on its website and the UAE Government portal, with the aim of consulting with the business community and relevant stakeholders to get their views and comments on Corporate Tax. The initiative comes in line with MoF’s belief in the importance of consulting with the business community and relevant stakeholders, and as part of its commitment to help the UAE achieve its strategic objectives, thereby cementing the country’s position as a leading hub for business and investment.

Younis Haji Al Khoori, Undersecretary of Ministry of Finance, emphasised that the initiative will assist the Ministry of Finance in further refining and implementing the proposed UAE Corporate Tax regulations, by bolstering means of communication with the business community and stakeholders, as they play a key role in drawing government financial policies.

“The Ministry of Finance welcomes comments by [19 May 2022] using the online Corporate Tax Submission Public Consultation Form, which can be found on the ministry’s website and the UAE Government portal,” Al Khoori said.

“Since the announcement in January 2022, the Ministry of Finance continued working on the design and implementation of the UAE Corporate Tax regime to ensure that it incorporates best practices globally and minimises the compliance burden for UAE businesses,” he added.

The ministry would appreciate clear and concise comments on the public consultation document, focusing on aspects of the proposed Corporate Tax regime that may help reduce compliance cost and complexity, and improve certainty for both tax administration and taxpayers alike. Comments on areas that are otherwise not covered in the document are also welcomed. — business@khaleejtimes.com


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