Ministry of Finance Calls on Public to Rely of Official Publications and Contents on Corporate Tax
19 May 2023
19 May 2023
The Ministry of Finance in the UAE (MoF) has called on the public to rely only on official publications and posts issued by MoF and the Federal Tax Authority (FTA) regarding the Federal Decree Law 47 of 2023 on the Taxation of Corporations and Businesses (the Corporate Tax Law) and the associated Cabinet and Ministerial Decisions.
The Ministry said a number of posts circulating on social media and other platforms that are issued by private parties, contain inaccurate and unreliable interpretations and analyses of Corporate Tax.
The public is reminded that the Ministry of Finance and the Federal Tax Authority are the official sources of information on Federal Taxes in the UAE. Therefore, analyses that are not based on official publications by MoF and FTA; or have not been commissioned by them, are unreliable and may contain misleading interpretations of the law.
The Ministry also warned of the legal consequences of publishing and re-publishing such misleading and unfounded analysis of the Corporate Tax Law and the associated Cabinet and Ministerial Decisions, which will be considered a violation under Federal Decree Law No. 34 of 2021 on Combatting Rumours and Cybercrime.