Dubai International Financial Centre Authority has announced for public consultation proposed Common Reporting Standard Law, DIFC Law No. 7 of 2017 & Regulations.
The proposed Common Reporting Standard Law & Regulations follow on from UAE Cabinet Resolution No. 9 of 2016 in which the UAE Government committed to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and the Multilateral Competent Authority on Automatic Exchange of Financial Account Information.
The proposed Common Reporting Standard Law & Regulations have been posted for a 30-day public consultation period with the deadline for providing comments ending on 8 November 2017.
Click here for a copy of the consultation paper and legislative proposal.