Latest news with #GlobalAnti-BaseErosion
Al Etihad
16-04-2025
- Business
- Al Etihad
MoF announces issuance of Ministerial Decision adopting OECD guidance
16 Apr 2025 16:47 ABU DHABI (WAM)The UAE Ministry of Finance (MoF) has announced the issuance of Ministerial Decision No. (88) of 2025, adopting all guidance issued by the Organisation for Economic Co-operation and Development (OECD) on Global Anti-Base Erosion (GloBE) Rules (Pillar Two).This decision follows the issuance of Cabinet Decision No. (142) of 2024 regarding the imposition of a Top-up Tax on Multinational decision reaffirms the UAE's continued commitment to applying international standards and best practices in the field of taxation, in line with the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS), of which the UAE is a member. The ministry clarified that the adoption of the new decision includes all Administrative Guidance and relevant commentary issued by the OECD up to January 2025. This ensures that the UAE's Domestic Minimum Top-up Tax (DMTT) framework remains consistent and is aligned with the OECD GloBE Model Rules, thus further minimising the compliance burden for in-scope Multinational Enterprises.
Zawya
16-04-2025
- Business
- Zawya
UAE: MoF announces issuance of Ministerial Decision adopting OECD guidance, commentary on Global Minimum Tax Rules
The UAE Ministry of Finance has announced the issuance of Ministerial Decision No. (88) of 2025, adopting all guidance issued by the Organisation for Economic Co-operation and Development (OECD) on Global Anti-Base Erosion (GloBE) Rules (Pillar Two). This decision follows the issuance of Cabinet Decision No. (142) of 2024 regarding the imposition of a Top-up Tax on Multinational Enterprises. This decision reaffirms the UAE's continued commitment to applying international standards and best practices in the field of taxation, in line with the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS), of which the UAE is a member. The Ministry clarified that the adoption of the new decision includes all Administrative Guidance and relevant commentary issued by the OECD up to January 2025. This ensures that the UAE's Domestic Minimum Top-up Tax (DMTT) framework remains consistent and is aligned with the OECD GloBE Model Rules, thus further minimising the compliance burden for in-scope Multinational Enterprises.
Hi Dubai
16-04-2025
- Business
- Hi Dubai
UAE Adopts Full OECD Guidance on GloBE Rules in Latest Taxation Move
The UAE Ministry of Finance has issued Ministerial Decision No. (88) of 2025, officially adopting all guidance published by the Organisation for Economic Co-operation and Development (OECD) on Global Anti-Base Erosion (GloBE) Rules under Pillar Two. This move comes on the heels of Cabinet Decision No. (142) of 2024, which introduced a Top-up Tax targeting Multinational Enterprises (MNEs). Together, the decisions mark a significant step in aligning the UAE's tax framework with international standards. By incorporating all OECD Administrative Guidance and commentary up to January 2025, the UAE reinforces its commitment to the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS), of which it is an active member. The Ministry emphasised that this alignment will ensure consistency in the UAE's Domestic Minimum Top-up Tax (DMTT) regime while streamlining compliance for affected MNEs. The adoption of the OECD's comprehensive guidance aims to support transparency, reduce tax avoidance risks, and enhance the UAE's global competitiveness through the application of clear, consistent, and internationally recognised tax rules. News Source: Emirates News Agency
Zawya
16-04-2025
- Business
- Zawya
MoF announces the issuance of Ministerial Decision adopting OECD Guidance
Abu Dhabi, UAE – The UAE Ministry of Finance has announced the issuance of Ministerial Decision No. (88) of 2025, adopting all guidance issued by the Organisation for Economic Co-operation and Development (OECD) on Global Anti-Base Erosion (GloBE) Rules (Pillar Two). This decision follows the issuance of Cabinet Decision No. (142) of 2024 regarding the imposition of a Top-up Tax on Multinational Enterprises. This decision reaffirms the UAE's continued commitment to applying international standards and best practices in the field of taxation, in line with the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS), of which the UAE is a member. The Ministry clarified that the adoption of the new decision includes all Administrative Guidance and relevant commentary issued by the OECD up to January 2025. This ensures that the UAE's Domestic Minimum Top-up Tax (DMTT) framework remains consistent and is aligned with the OECD GloBE Model Rules, thus further minimising the compliance burden for in-scope Multinational Enterprises. A copy of the Administrative Guidance and commentary can be accessed here. A set of Frequently Asked Questions (FAQs) related to the UAE DMTT legislation is also available here. Ministerial Decision No. (88) of 2025 is available on the Ministry of Finance website:
