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Dubai / WAM
The country’s commitment to internationally agreed standards of transparency and exchange of information for taxation purposes was the crux of a workshop organised by the Ministry of Finance in collaboration with the Organisation of Economic Cooperation and Development.
The workshop reviewed a series of issues of close relevance to tax and monetary policies developed to realign taxation with economic substance and value creation, while preventing double taxation.
Financial methodologies relevant to the base erosion and profit shifting, BEPS, were on top of the meeting agenda. BEPS refers tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax.