Page 138 - AAE PR REPORT - July 2024

7/25/24, 9:45 AM Al Ansari Exchange introduces corporate tax collection
Al Ansari Exchange introduces corporate

tax collection in UAE

Wed, 24 Jul, 2024 By News Desk, GCC Business News

Rep. Image

Al Ansari Exchange, a leading provider of foreign exchange and remittance

services in the UAE and a subsidiary of AL Ansari Financial Service PJSC

(DFM:ALANSARI), has introduced corporate tax collection services at all its

branches in the UAE.

The aim of this new service is to simplify taxation for businesses while adhering to

the UAE regulations. The launch reflects the company’s commitment to providing

businesses with streamlined and accessible means to pay their corporate income

taxes.

With the exception of a few companies, this initiative is aimed at satisfying the

UAE government’s demand for federal corporate income tax on all businesses

operating in the country. The UAE Corporate Tax Law, Federal Decree-Law No.

47 of 2022 on the Taxation of Corporations and Businesses, was published by the

Ministry of Finance on December 9, 2022, and is applicable for accounting

periods beginning on or after 1 June 2023.

“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, Ali Al Najjar,
Chief Operating Officer of
Al Ansari Exchange
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