The UAE Ministry of Finance has updated the scope of Economic Substance Regulations under Cabinet Decision No. 98 of 2024. Companies are no longer required to file annual ESR notifications or reports for financial years ending after December 31, 2022. Free zone businesses seeking a 0% corporate tax rate must still demonstrate adequate substance.
The Arab Monetary Fund stated that artificial intelligence can assist Arab governments in improving tax collection and strengthening public finances, provided robust governance frameworks are in place. The assessment was presented in Abu Dhabi during the 17th Ordinary Session of the Council of Arab Finance Ministers alongside the fund's Golden Jubilee. Regional finance leaders examined fiscal policies, AI integration in revenue administration, and resilience to geopolitical volatility.
The UAE Ministry of Finance held a Customer Council session in Dubai under Phase Three of the Zero Government Bureaucracy Programme. The meeting addressed simplifying federal financial procedures and exploring Agentic AI to automate services. The council also established governance benchmarks for upcoming automated corporate financial and tax processes.
The UAE Ministry of Finance has issued ministerial decisions detailing reporting and compliance procedures under the OECD/G20 Pillar Two minimum 15 percent tax framework. The rules apply to multinational groups with consolidated revenue of at least EUR 750 million in at least two of the four preceding fiscal years. Guidelines define GloBE Information Return submissions, Federal Tax Authority notifications, and the appointment of local filing entities.
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