The Ministry of Finance has launched “general digital advice” on its website, related to the regulations and instructions related to the corporate tax system in the free zones in the United Arab Emirates.
This advice will be available during the period from July 19 to August 2, and its launch is an expression of the importance of the contribution of free zones to the economy of the United Arab Emirates, and their vital role in stimulating growth and economic transformation in the country and on a global scale.
This public digital advice reflects the Ministry of Finance’s belief in the importance of consulting with the business community and relevant stakeholders as part of its priorities to enable the UAE to achieve its strategic goals, and to consolidate the country’s position as a leading center for business and investment.
The Ministry said that given the diversity of free zone companies in the UAE, it is important to ensure that their activities are compatible with the business activities approved in the free zones. Therefore, the Ministry of Finance is seeking to collect observations from companies based in these zones and other concerned parties before issuing further clarifications. or executive decisions specifying the scope of those activities.
And the Ministry of Finance expressed its aspiration to receive clear and concise comments, especially examples, data or other information to enhance the opinions that are put forward in the responses to this advice, noting that the responses must be received by August 2, 2023, and stressing that these responses will remain confidential and will not be published.
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