Today, the Ministry of Finance (MoF) made an important announcement regarding the ongoing Corporate Tax Free Zone public consultation, signaling its commitment to fostering open communication and engagement with stakeholders. Recognizing the significance of gathering comprehensive feedback from the business community, the MoF has decided to extend the deadline for submitting comments and suggestions.
This extension showcases the Ministry’s proactive approach to accommodating valuable inputs from free zone-based businesses and other relevant entities. By providing this additional time, the MoF aims to ensure that all interested parties have ample opportunity to share their perspectives on the proposed Corporate Tax Free Zone initiative.
The new deadline for feedback and comments has been set for 9th August, 2023. The Ministry believes that this extension will contribute significantly to the success of the public consultation process and, in turn, support the achievement of the UAE’s strategic objectives.
This move by the Ministry of Finance further reinforces the country’s commitment to fostering a business-friendly environment and solidifying its position as a global hub for investment and commerce. As stakeholders and businesses collaborate to shape the Corporate Tax Free Zone proposal, the UAE’s status as an international business destination is expected to be further enhanced.
Overall, the extension of the consultation deadline reflects the MoF’s dedication to effective governance and its responsiveness to the needs of the business community, ensuring that the best interests of all stakeholders are taken into account when formulating policies and initiatives that will drive the nation’s economic growth and prosperity.
The extended consultation deadline demonstrates the Ministry’s commitment to engaging with the business community and stakeholders. This aligns with their priority to support the UAE’s strategic objectives and enhance its status as a global business and investment center.