The UAE Ministry of Finance right this moment introduced the launch of a digital public session to assemble the views of related stakeholders on the implementation of the International Minimal Tax (GMT) or International Anti-Base Erosion Mannequin Guidelines (Pillar Two) (GloBE Guidelines) in addition to different tax issues within the UAE. The session will probably be open from 15 March 2024 to 10 April 2024, and accessible through the Ministry’s web site or the UAE’s Authorities Portal (hyperlink right here).
The digital public session displays the Ministry’s perception within the significance of consulting with all stakeholders together with the multinational teams working within the UAE, advisors, service suppliers, and traders.
The session is cut up into two components – the primary, is to assemble the views of stakeholders with respect to the potential coverage design choices for the implementation of the GloBE Guidelines within the UAE, specifically the event of a home minimal tax. The Organisation for Financial Co-operation and Improvement (OECD) has printed the GloBE Mannequin Guidelines that function the mannequin laws for jurisdictions wishing to implement certified guidelines.
The second a part of the session is to know stakeholders’ views on the introduction of substance-based incentives to be utilized within the UAE, which might kind a part of the UAE Company Tax regime.
To familiarise stakeholders with the foundations and to make sure knowledgeable suggestions is obtained, the Ministry has issued a International Minimal Tax briefing doc alongside the session.
The UAE Ministry of Finance welcomes clear and concise feedback with, the place doable, examples, information, or different info to assist views being put ahead within the response to this session. The responses should be obtained by 10 April 2024 through its web site (hyperlink right here), and can stay confidential and won’t be printed.
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