MoF announced the launch of a digital public consultation to gather views of relevant stakeholders on the implementation of Global Minimum Tax

In order to get input from pertinent parties on the implementation of the Global Minimum Tax (GMT) or Global Anti-Base Erosion Model Rules (Pillar Two) (GloBE Rules), as well as other tax-related issues, the UAE Ministry of Finance (MoF) announced the opening of a digital public consultation. The ministry's website or the UAE Government Portal will provide access to the consultation, which will run from March 15 until April 10. 

The ministry's confidence in the value of engaging with all stakeholders, including investors, consultants, service providers, and global corporations operating in the UAE, is reflected in the digital public consultation.

There are two phases to the consultation. The first is to get input from stakeholders on possible policy design alternatives for the GloBE Rules' implementation in the United Arab Emirates, specifically the creation of a domestic minimum tax. The GloBE Model Rules, which are issued by the Organization for Economic Co-operation and Development (OECD), provide as model laws for countries looking to enact qualified regulations. 

Finding out what stakeholders think about the introduction of substance-based incentives to be used in the UAE—as part of the UAE Corporate Tax regime—is the second goal of the consultation.