The UAE Ministry of Finance (MoF) is welcoming feedback from the business community and relevant stakeholders on its corporate tax initiative.
The Ministry stated that it has launched a digital public consultation initiative on its website and the UAE Government portal to receive the views and comments.
The initiative is in line with the Ministry’s commitment to help the UAE achieve its strategic objectives, cementing the country’s position as a leading hub for business and investment, the state-run news agency, Wam, reported.
The undersecretary of the Ministry of Finance, Younis Haji Al Khoori, said: “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.
“Since the announcement in January 2022, the Ministry of Finance has continued to work 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.”
The Ministry official also 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 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.
The Ministry is looking to improve certainty for both tax administration and taxpayers alike. Comments on areas that are otherwise not covered in the document are also welcome, the Ministry stated.
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