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Ministry of Finance studies service fee structures across all ministries and federal bodies The Ministry of Finance (MoF) announced today that it will resume studying service fee structures across all ministries and federal bodies in order to contribute to stimulating the business environment, boosting the economy, and reiterating the UAE’s position as an attractive FDI hub.The move comes with the aim of achieving balance between financial policies at the federal level. It also aims to attain the financial sustainability of the Federal Government in accordance with international best practices and making it a pivotal player in supporting business growth locally and internationally, as well as a regional hub for foreign capital and companies. MoF will coordinate with the local governments of the Emirates to promote the desired goals of studying service fee structures nationally, and to support the competitiveness of the business environment in the country.MoF stated that studying this decision comes within the framework of revising the structures of fees of services provided by the federal entities, such as commercial, regulatory and other activities’ fees; after the UAE Government announced plans to introduce a federal corporate tax on the profit of businesses and to reduce financial burdens on the UAE business community. MoF aims to reduce fees of services provided by all federal entities gradually to stimulate the business environment and boost the national economy.
