- The United Arab Emirates (UAE) Ministry of Finance (MOF) announced the issuance of Federal-Decree Law No. 28 of 2022 on Tax Procedures repealing Federal Decree Law No. 7 of 2017 on Tax Procedures.
- Federal Decree Law No. 28 of 2022 will come into effect on 1 March 2023.
- The key changes relate to definitions, language, offset of tax liabilities against tax receivables, obligation to file a voluntary disclosure, tax agents, timeframe for the Federal Tax Authority to notify taxpayers of a tax audit/tax assessment, limit of amount of administrative penalties, tax audit and tax refund application, tax collection in case of risk of revenue loss, limits to monetary penalties for tax crimes, statute of limitations and dispute resolution process, among others.
Source EY
