Page 135 - AAE PR REPORT - July 2024

Al Ansari Exchange Launches Corporate Tax Collection Service at All Branches in UAE
July 24, 2024

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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