UAE Ministry of Finance announces new initiatives – Tax consultancy for free zones and refund of eDirhams

UAE Ministry of Finance announces new initiatives – Tax consultancy for free zones and refund of eDirhams

This initiative reflects the Ministry's recognition of the substantial contribution made by free zones to the local economy. Free zones play a crucial role in stimulating growth and facilitating economic transformation both domestically and internationally. By conducting this digital public consultation, the Ministry aims to engage with the business community and other relevant stakeholders, emphasising its commitment to assisting the UAE in achieving its strategic objectives. Moreover, this effort aims to solidify the country's position as a global business and investment hub.

Considering the diverse range of companies operating within the UAE's free zones, it is imperative to ensure that their activities align with the list of qualifying and excluded business activities. In light of this, the Ministry of Finance seeks feedback from companies based in free zones and other relevant parties. The collected insights will help shape future clarifications or executive decisions regarding the scope of these activities.

The Ministry of Finance encourages participants to provide clear and concise comments, substantiated with examples, data (where applicable), or any other relevant information to support their viewpoints. Responses must be submitted by August 2, 2023. It is important to note that all responses will be kept confidential and will not be published.