Page 142 - AAE PR REPORT - July 2024

Al Ansari Exchange Launches Corporate Tax Collection Service at All
Branches in UAE

24/07/2024

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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