Page 18 - AAE PR REPORT - July 2024

Press Release

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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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