Abu Dhabi, UAE -- UAE's Ministry of Finance (MoF) Friday launched digital public consultation to gather feedback from relevant stakeholders 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 matters in the UAE. The consultation...

ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024 and this will come into effect on March 1 2024. The Cabinet Decision No. 10 of 2024 amended the schedule of violations and administrative penalties of Cabinet Decision No. 75...

Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including global economic slowdown and difficult financial conditions, according to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF). Speaking to a media outlet, he said, "Our efforts to...

HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and Sukuk in 2023 totaled around $2 billion (AED7.7 billion). For Q1 2024, the ministry is planning to issue bonds and Sukuk valued at US$1.3 billion (AED5 billion), he said. Speaking...

Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and guidelines, Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih said during the inauguration of the Leadership Forum for the Transformation to Accrual Accounting in Riyadh....

ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Islamic Treasury Sukuks (T-Sukuks). This is...

Riyadh, Saudi Arabia - Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters to the Kingdom, Saudi ministry of finances said. The Regional Headquarters Program, a collaborative effort spearheaded by the Ministry of Investment and the Royal Commission for Riyadh, is working diligently...

DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year 2023 recorded a surplus of US$2.7 billion (QR 10 billion). In its briefing on the actual data of Qatar's budget in the second quarter (Q2) of 2023, the ministry said...

Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance through financial empowerment, sustainability, innovation and future foresight, financial leadership and sustainable development. Deputy Ruler of Dubai and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who...

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven.

Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion ($25.0 billion) in the first quarter of 2023, the preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance...

ABU DHABI, UAE -  UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives, national projects and international participation. The report is entitled "Remarkable Achievements Shaping Promising Financial Prospects",  includes MoF's most prominent achievements, leadership councils and committees, and strategic objectives. Minister of State...

The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for tax awareness.

The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.

Abu Dhabi, UAE -- The UAE Ministry of Finance has issued a decision on conditions under which a "person may continue or cease to be deemed an exempt person,”. An official statement said the decision clarifies rules to ensure that businesses remain eligible for a corporate tax exemption if they...

ABU DHABI,  UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary dealer for UAE's Federal Treasury Sukuk Program. This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF) and aims to issue...

Dubai, UAE – UAE’s Ministry of Finance has announced a decision on Small Business Relief (SBR), which is aimed at supporting startups and other small or micro businesses by reducing their corporate tax burden and compliance costs. The Ministry’s decision stipulates that taxable residents of the UAE can claim SBR...

Abu Dhabi, UAE-- The first auction of the UAE treasury bond program in 2023 has been oversubscribed by 6.2 times, receiving bids worth AED6.85 billion ($1.76 billion), WAM reported. In 2022, the Ministry of Finance, the issuer, had issued bonds totaling AED 9 billion across tenors of two years, three...

General public budget revenue grew 9.1 percent from 2021, excluding the impact of value-added tax credit refunds, according to the Ministry of Finance.

ABU DHABI, UAE  - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses. The launch of the program was announced during a media briefing held Thursday by the ministry to raise public awareness...

ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion (AED367.9 billion) in 2020 to $126.3 billion (AED463.9 billion) in 2021, says the Ministry of Finance (MoF) data released Tuesday. The MoF released the preliminary government finance statistics data for...

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.

UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022 on September 15 and 16.

The fourth auction, which witnessed the first issuance of five-year T-Bonds saw a strong demand through the six primary bank dealers, with bids received worth AED 8.60b, and an oversubscription by 5.7x.

Data released from the Ministry of Finance showed that oil and gas revenues increased to $32 billion, compared to $19 billion in the first half of 2021.

The UAE’s public spending in the first quarter of 2022 totaled AED87.4 billion ($23.79 billion), an increase of 19.6 percent and equivalent to AED14.34 billion, compared to AED73.7 billion in the same period of the previous year, according to data from the Ministry of Finance. The figures also highlighted the...

The debt instruments are issued by the Saudi government and submitted by the Ministry of Finance.

The agreement is part of the UAE’s endeavors to strengthen and activate means of economic and investment cooperation globally.

The meeting explored the projections of federal cash flows for 2022 The fiscal policies governing financing of capital projects also discussed     The General Budget Committee chaired  by Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan discussed the draft federal budget for 2022-2026...