Global Anti-Base Erosion Model
Starting Date: 15/03/2024
Closing Date: 10/04/2024
Participation Summary
Outcome And Impact
Based on the responses, we noted that majority of respondents (which included, multinational enterprises and advisors) were in favour of the introduction of the GloBE Rules in the UAE with positive sentiments towards the introduction of a Domestic Minimum Top-up Tax (DMTT) and the Income Inclusion Rule. Respondents also highlighted the preference and importance of the rules to be aligned with the GloBE Model Rules as issued by the OECD and the need for the DMTT to achieve
'Qualified' and 'Safe Harbour' status
Identify the
actions or steps planned based on the consultation results:
Based on feedback received, the UAE has
already announced the introduction of a Domestic Minimum Top-up Tax, the draft
legislation is finalised and released on December 2024. The
implementation of an Income Inclusion Rule is still under assessment and may be
considered to be introduced in the near future. The UAE legislation is closely
aligned to the GloBE Model Rules.