Khaleej Times, Saturday, May 20, 2023 | Shawwal 30, 1444
UAE: Ministry warns public against 'unreliable interpretations' of corporate tax laws
Emirates:
The Ministry of Finance (MoF) on Friday issued a statement urging the public to
rely only on official publications and posts when looking for details on the
UAE's corporate tax laws.
A number of posts circulating on social media and other platforms contain
inaccurate and unreliable interpretations and analyses of the corporate tax, the
ministry warned.
The public is reminded that the MoF and the Federal Tax Authority are the
official sources of information on federal taxes in the UAE. Therefore, analyses
that are not based on official publications by MoF and FTA — or have not been
commissioned by them — are unreliable and may contain misleading interpretations
of the law.
The ministry also warned of the legal consequences of publishing and
re-publishing such misleading and unfounded analysis of the Corporate Tax Law
and the associated Cabinet and Ministerial Decisions, which will be considered a
violation under Federal Decree-Law No. 34 of 2021 on Combatting Rumours and
Cybercrime.
Violators face hefty penalties of up to Dh200,000 and imprisonment of one to two
years.
According to Article 52 of the law, anyone who uses the internet to publish,
circulate or spread false news, rumours or misleading information, contrary to
the news published by official sources, could be punished by imprisonment for at
least one year and fined Dh100,000.
In case the publishing of false news or rumours agitates public opinion against
state authorities or occurs during times of pandemic, crises or disasters, the
violator could be imprisoned for at least two years and fined Dh200,000.