UAE Ministry of Finance unveils corporate tax public awareness program

By Shilpa Annie Joseph, Official Reporter
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UAE Ministry of Finance (MoF) has launched a ‘Corporate Tax Public Awareness Program’ following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses.

The launch of the program was announced during a media briefing by the Ministry to raise public awareness of corporate tax in the UAE and abroad.

The UAE Ministry announced that the inaugural corporate tax public awareness session will be held on 9th January 2023 in Abu Dhabi, with more sessions to be hosted in person across the various emirates as well as virtually through an awareness digital platform.

The program has been designed to raise awareness of the UAE corporate tax law amongst the largest audience possible. “While the sessions are open to the public, the primary target audience includes business leaders from all sectors, including but not limited to, chief financial officers, tax directors and managers legal advisors and counsels, and business owners,” according to the statement.

The corporate tax public awareness sessions will be led by tax experts from the Ministry of Finance and are designed to raise awareness and provide a trusted platform for transparent discussions and address questions and queries from the various business sectors.

The sessions reflect the Ministry of Finance’s commitment to engaging and educating the business sectors about key features of the UAE corporate tax regime.

The Ministry remarked that, “Participants will be provided with an overview of the corporate tax law, including scope, rates, key definitions, exempted persons, free zones, administration, and timelines in addition to covering focused topics such as calculating taxable income, tax relief, tax groups, transfer pricing, and other topics.”

The Ministry of Finance is conducting these sessions to demonstrate its commitment to the public to ensure a smooth transition before the Corporate Tax Law comes into effect, as per the statement.

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