The UAE Ministry of Finance (MoF) has announced the commencement of a digital public consultation to obtain feedback from key stakeholders on the implementation of the Global Minimum Tax (GMT) or Global Anti-Base Erosion Model Rules (Pillar Two) (GloBE Rules) and other tax issues. The survey will be open from March 15 to April 10 and may be accessed via the ministry’s website or the UAE Government Portal.
The digital public consultation demonstrates the ministry’s confidence in consulting with all stakeholders, including global corporations operating in the UAE, consultants, service providers, and investors.
The consultation is divided into two sections. The first is to gather stakeholders’ perspectives on various policy design alternatives for implementing the GloBE Rules in the UAE, explicitly formulating a domestic minimum tax. The Organisation for Economic Cooperation and Development (OECD) has issued the GloBE Model Rules, which serve as model legislation for jurisdictions seeking to apply qualified rules.
The second stage of the consultation seeks to understand stakeholders’ perspectives on implementing substance-based incentives in the UAE, which would be part of the UAE Corporate Tax framework.
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