Global Forum on Transparency and Exchange of Information for Tax Purposes › Supplementary Peer Review Report Summary: United Arab Emirates (UAE)
This supplementary report assesses new developments in the legal and regulatory framework of the United Arab Emirates (UAE) since the 2012 Phase 1 report. Improvements have been recognised in the availability of ownership and accounting information in all free zones, although further clarification about the rules applicable in certain free zones is still required. Regarding the access to information, an obligation was introduced for all relevant authorities to obtain information for EOI purposes if requested to do so. However, the process and procedures between the Ministry of Finance, the competent authority for EOI purposes, and the other government authorities are not specified in all cases. As a result of the progress made, the UAE will now advance to their Phase 2 review, which is scheduled for the first half of 2015. For further information on United Arab Emirates exchange of information practices and to read the full report click here.