UAE – Multilateral agreement on tax cooperation | KPMG | GLOBAL

United Arab Emirates – Multilateral agreement on tax cooperation, new treaty with Jordan

UAE – Multilateral agreement on tax cooperation

KPMG in the United Arab Emirates (UAE) reports that the country has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and entered a new tax treaty with Jordan.

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UAE signs multilateral agreement on tax cooperation

The UAE has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which provides for administrative assistance in tax matters for all forms of:

  • exchange of information on request
  • spontaneous exchange
  • automatic exchange
  • tax examinations abroad
  • simultaneous tax examinations
  • assistance in tax collection.

The convention commits the UAE to begin the first such exchanges by 2018. The agreement also guarantees extensive safeguards for protecting taxpayers' rights. 

To date, the UAE has signed 104 bilateral agreements to avoid double taxation, eight agreements on the exchange of information for tax purposes, and an intergovernmental agreement with the U.S. in relation to the U.S. Foreign Account Tax Compliance Act, which includes bilateral cooperation in the exchange of tax information. 

The UAE’s compliance with international requirements for multilateral agreements on tax cooperation is expected to strengthen the UAE’s position as a global financial and trading center and enhance its tax competitiveness.  

New UAE-Jordan tax treaty

The UAE and Jordan concluded a new tax treaty, which is currently in force and applies to tax years starting on or after 1 January 2018. 

MESA Tax Update - July 2017

Welcome to the latest edition of our Middle East and South Asia (MESA) Tax Update, bringing you the latest news in tax from the MESA region.

 
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