“Finance” launches the “Digital Public Consultation” initiative to consult with business on corporate tax

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The Ministry of Finance announced the launch of the public digital consultation initiative on its website and on the UAE Government Portal with the aim of consulting with business and relevant stakeholders to get their opinions and comments related to corporation tax.

This initiative comes in the Ministry of Finance’s awareness of the importance of consulting with business and relevant stakeholders, in support of achieving the country’s strategic ambitions and strengthening its position as a leading global hub in the field of business and investment.

His Excellency Younis Haji Al Khouri, Deputy Secretary of the Ministry of Finance, stressed the importance of the initiative to support the process of revising and implementing the proposed corporate tax legislation in the UAE by opening the door to dialogue with business and stakeholders when they are an essential part of the process in formulating the state’s fiscal policies.

He said: “The Ministry of Finance welcomes all relevant statements, observations and proposals until 19 May 2022 using the online application form available on the Ministry of Finance website and the UAE Government Portal.”

His Excellency added: “Since the publication of the corporation tax in January 2022, the Ministry has continued to work on designing and implementing the tax system in the country in accordance with the best practices adopted globally in this field and its development taking into account reduces the burden on business compliance. “

In detail, the ministry calls for clear and concise notes to be included in the public consultation document focusing on the proposed aspects of the corporate tax system, which can help reduce compliance costs and complexity and improve confidence in both tax administration and taxpayers. In addition to providing any insights into areas not covered in the document.

To participate in the general corporate tax advisory document, please visit the following link: www.mof.gov.ae/Corporate-Tax-Submission-Public-Consultation

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