Page 128 - AAE PR REPORT - July 2024

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

Futures and Commodity Market News
Al Ansari Exchange Launches Corporate Tax Collection

Service At All Branches In UAE

Jul 25, 2024 (MENAFN via COMTEX) --
(MENAFN - Mid-East) UAE, July, 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.

About"Al Ansari Exchange"
Al Ansari Exchange, the subsidiary of Al Ansari Financial Services P.J.S.C. and the largest outward personal remittance and
foreign exchange company in the UAE. Al Ansari Exchange, established in 1966 and licensed by the Central Bank of the
UAE, is the UAE's first exchange company that grown to be the largest outward personal remittance and foreign exchange
company in the country with over 259 branches across the Emirates (as of March 2024). With over 4500 multilingual
employees, the Company conducts 134 thousand transactions per day (as of December 2023).

Since its founding, the Company has significantly scaled its digital presence through its award-winning app, website and in-
branch smart counters.

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