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Dubai / WAM
The Ministry of Finance (MoF) signed a memorandum of understanding (MoU) with Sharjah Media City, Shams, on the exchange of information for tax purposes, as part of the UAE’s tax agreements.
Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance and Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams) signed the agreement virtually.
Younis Al Khoori stressed importance of this agreement, noting that MoU establishes an unambiguous mechanism that sets the foundation for cooperation in exchanging information for tax purposes, which in turn enhances the competitiveness of the UAE, as well as its international standing on finance and trade.
Al Khoori said, “MoF is keen to ensure that all federal, local government entities comply with global standards and agreements signed by UAE via transparency and exchange of information for tax purposes, thereby achieving protecting national economy.”