Corporate tax in UAE: 5 key questions answered
The introduction of corporate tax in the UAE on June 1 marks a pivotal step in diversifying revenue sources for
The United Arab Emirates Cabinet has issued a Cabinet Resolution no (58) of 2020 in relation to Ultimate beneficial Ownership on 28 August 2020. This resolution is applicable to all entities that are registered in the UAE mainland and free zones
The UBO is the one who ultimately owns or controls a company and/or on who conducts the transaction or on whose behalf a transaction is being conducted. Declaring a company’s ultimate beneficiary is “one of the main requirements for completing disclosure and transparency requirements from enterprises and individuals within the anti-money laundering system in the country”, said Safeya Al Safi, director of the ministry’s anti-money laundering department.
The MoE has urged the compliance of UAE establishments with UBO DATA SUBMISSION.
Source: Khaleej Times
To know more about UBO Process or if you need help to process your UBO, contact NAM Associates today by clicking the button below.
The introduction of corporate tax in the UAE on June 1 marks a pivotal step in diversifying revenue sources for
50th National Day celebrations: UAE issues new coin; all you need to know
Your face will replace your Emirates ID soon Residents holding an Emirates ID can get themselves registered for the face