The United Arab Emirates launches digital public consultations on the implementation of a global minimum tax – News

Consultations will be open from March 15 to April 10 and will be available on the website of the Ministry of Finance

By WAM

Published: Fri March 15, 2024, 10:16 p.m

Last updated: Fri March 15, 2024, 11:19 p.m

The United Arab Emirates Ministry of Finance (MoF) has announced the launch of a digital public consultation to gather the views of relevant stakeholders on the implementation of the Global Minimum Tax (GMT) or the Global Principles of the Anti-Base Erosion Model (Pillar Two) (GloBE Principles). as well as other tax issues. The consultation will be open from March 15 to April 10 and will be available on the ministry’s website or on the UAE government portal.

The digital public consultation reflects the ministry’s belief in the importance of consulting all stakeholders, including international groups operating in the UAE, advisors, service providers and investors.

The consultation is divided into two parts – the first aims to gather stakeholder views on potential policy design options for implementing GloBE principles in the UAE, in particular the development of a national minimum tax. The Organization for Economic Co-operation and Development (OECD) has published the GloBE Model Rules, which serve as model legislation for jurisdictions wishing to implement qualified rules.

The second part of the consultation aims to understand stakeholder views on the introduction of substance-based incentives in the UAE as part of the UAE corporate tax system.

To familiarize stakeholders with the rules and ensure they receive informed views, the ministry has published a global minimum tax information document alongside the consultation.