28 overseas banks in Dubai take part within the “Banking Tax” workshop.

The Finance Division of the Authorities of Dubai organized a particular workshop to clarify the provisions of Legislation No. and particular improvement zones, numbering 28 banks.

The workshop is organized inside the framework of the “Compliance” program, which was launched by the Division of Finance to boost consciousness of the federal government’s tax system carried out of their corporations. The workshop addressed the clarification of the provisions of Legislation No. (1) of 2024 concerning the tax on overseas banks working within the Emirate of Dubai, for these concerned in overseas banks, with the participation of fifty representatives of these banks which have licensed branches. owned by the Central Financial institution and working within the Emirate of Dubai.

The Government Director of the Central Accounts Division on the Division of Finance, Ahmed Ali Muftah, confirmed the Division’s willingness to help the banking system within the Emirate of Dubai, together with elevating consciousness of overseas banks and bringing them to – into the provisions of Legislation No. (1) of 2024 concerning the tax on overseas banks working within the Emirate of Dubai. strengthening the economic system of the emirate.

He stated: “Throughout the framework of the (Compliance) programme, we proceed to extend the overall understanding of the brand new regulation and guarantee compliance with its provisions throughout the this workshop, we reviewed the obvious provisions of the regulation, such because the provisions associated to banks working in free zones and particular improvement zones. Our efforts to make clear and implement the regulation on taxes on overseas banks are a part of a concerted effort that mixes data, compliance and innovation.”

For her half, the Director of Public Income Division on the Division of Finance, Reham Muhammad Karmastji, thanked the overseas banks that participated within the particular workshop, asking them to strengthen cooperation and proceed to be eager to contribute to the shaping of the monetary traits. a scene in Dubai with full confidence and beauty.

She stated: “We noticed a excessive degree of satisfaction among the many members within the workshop, which was divided into two components: the primary noticed a proof of the provisions of the regulation, within the presence of consultants from the Excessive Laws Committee, whereas they had been for some time. Within the second half, a superb dialogue was held with representatives of the banks in regards to the operational choices which are anticipated to be issued with the approval of the Director Common of the Division of Finance primarily based on the provisions of the regulation, with a view to obtain readability and luxury for these associated to the appliance, with lively interplay and clear curiosity from the members.”