On 13 September 2023, during the Organization for Economic Co-operation and Development (OECD) Regional Forum held in Dubai, the UAE Ministry of Finance (MoF) made an informal announcement that the UAE will defer the implementation of the Global Anti-Base Erosion (Pillar Two) rules until 2025.
- This decision allows more time for businesses to prepare for both Corporate Tax (CT) and Pillar Two.
- Additionally, it provides the Ministry of Finance(MoF) with the opportunity to ensure that they establish the appropriate legal basis and framework for the new rules.
- A public consultation is also planned for Q1 2024.