The Ministry of Finance today announced the launch of a digital public consultation on its website (link here) as part of the UAE Corporate Tax’s Free Zone regulations. The consultation will be open from 19 July to 2 August 2023.

This initiative reflects the significant contribution of free zones to the local economy, and their integral role in stimulating growth and economic transformation locally and internationally. The digital public consultation also reflects the Ministry’s belief in the importance of consulting with the business community and relevant stakeholders, as part of its priorities to contribute to the achievement of the UAE’s strategic goals, and to consolidate the country’s position as an international business and investment hub.

Given the diverse nature of companies established in the UAE’s free zones, it is important to ensure that their activities match the list of qualifying and excluded business activities. Hence, the Ministry of Finance aims to gather feedback from free zone-based companies and other relevant parties, ahead of issuing further clarifications or executive decisions detailing the scope of these activities.

The Ministry of Finance welcomes clear and concise comments, with examples and data (where possible), or other information to support the views expressed in the responses to this consultation. The responses must be received by August 2, 2023, and will remain confidential and will not be published.