UAE: Ministry warns public against 'unreliable interpretations' of corporate tax laws

Publishing misleading, unfounded analyses of the tax regime will be considered a violation of federal law on combatting rumours, cybercrime

By WAM

Published: Fri 19 May 2023, 4:47 PM

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.

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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.

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