Page 125 - AAE PR REPORT - July 2024

7/26/24, 11:28 AM Al Ansari Exchange Launches Corporate Tax Collection Service at All Branches in UAE
Al Ansari Exchange Launches Corporate Tax

Collection Service at All Branches in UAE

UAE, July 24, 2024: Al Ansari Exchange, the largest remittance and foreign exchange company in the UAE and a
subsidiary of Al Ansari Financial Services PJSC [DFM: ALANSARI], has launched its corporate tax collection
service across all its branches in the UAE. The new service is designed to provide a convenient method for

businesses to meet their tax obligations while ensuring compliance with UAE regulations.

With the launch of this new service, Al Ansari Exchange solidifies its commitment to empowering businesses by
providing a simple and accessible platform to process their corporate tax payments. The initiative comes in

response to the commencement of Federal Corporate Tax collection mandated by the UAE government for all
businesses operating within the country, with some exceptions.

Ali Al Najjar, Chief Operating Officer of Al Ansari Exchange, said: “We are pleased to launch our new corporate tax

collection service, which reflects our commitment to supporting businesses. In compliance with the UAE
regulations, the new service streamlines the tax payment process, offering businesses the convenience of
processing their payments at any of our branches across the UAE. This new service is in line with our commitment
to providing seamless financial solutions and reinforces our role as a trusted partner for businesses in the UAE.”

The UAE Corporate Tax Law, Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and
Businesses, was issued by the Ministry of Finance on December 9, 2022, and is applicable for accounting periods
beginning on or after 1 June 2023.

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