MOF Launches Digital Public Consultation Initiative Ahead of Corporate Tax Legislation Release – News
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance.
The initiative aims to consult with the business community and relevant stakeholders to refine and implement proposed corporate tax regulations in the UAE.
The Ministry of Finance (MoF) has launched the digital public consultation initiative on its website and the UAE Government portal, with the aim of consulting the business community and relevant stakeholders to get their points of view. view and comments on corporation tax. The initiative is part of the Ministry of Finance’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 goals, thereby consolidating the country’s position as a hub for business and investment.
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, pointed out that the initiative will help the Ministry of Finance to refine and implement the proposed UAE corporate tax regulations, strengthening the means of communication with the business community and stakeholders, as they play a key role. role in shaping the government’s financial policies.
“The Department of Finance welcomes comments from [19 May 2022] using the online public consultation form on corporate tax submission, which can be viewed on the ministry’s website and on the UAE government portal,” Al Khoori said.
“Since the announcement in January 2022, the Ministry of Finance has continued to work on the design and implementation of the UAE’s corporate tax regime to ensure it incorporates best practices globally and minimizes the compliance burden for UAE businesses,” he added.
The department would appreciate clear and concise comments on the public consultation document, focusing on aspects of the proposed corporate tax system that could help reduce the cost and complexity of compliance, and improve certainty for both the tax administration and for taxpayers. Comments on areas not otherwise covered in the document are also welcome. — [email protected]