Administrative
Resolution No. (95) of 2025
Regulating
the
Exchange
of Data and Information Related to
Tax
on Foreign Banks Operating in the Emirate of Dubai[1]
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The
Director General of the Department of Finance,
After perusal of:
Law No. (5) of 1995 Establishing the Department of Finance;
Law No. (4) of 2018 Establishing the Financial Audit
Authority and its amendments;
Law No. (1) of 2024 Concerning Tax on Foreign Banks
Operating in the Emirate of Dubai;
Executive Council Resolution No. (101) of 2024 Approving
Administrative Penalties and Fines Applicable to Foreign Banks Operating in the
Emirate of Dubai; and
Administrative Resolution No. (107) of 2024 Concerning the
Application of Tax to Foreign Banks Operating in the Emirate of Dubai,
Does
hereby issue this Resolution.
The
words and expressions mentioned in this Resolution will have the same meaning
assigned to them in the above-mentioned Law No. (1) of 2024. For purposes of
this Resolution, the following words and expressions, wherever mentioned in
this Resolution, will have the meaning indicated opposite each of them unless
the context implies otherwise:
|
Law: |
Law No. (1) of 2024 Concerning Tax
on Foreign Banks Operating in the Emirate of Dubai. |
|
DOF: |
The Department of Finance. |
|
FAA: |
The Financial Audit Authority. |
|
Data and Information: |
All accounting and Tax information related to the
implementation of the Law. This includes financial reports, Tax Returns,
forms, financial statements and notes, Voluntary Disclosures, correspondence,
Tax Audit reports, and any other information related to the implementation of
the Law. |
|
Electronic Platform: |
The electronic system approved by the DOF and the
FAA for the exchange of Data and Information between them in accordance with
the provisions of the Law and this Resolution. |
The
exchange of Data and Information between the DOF and the FAA is governed by the
following principles:
1.
The use of Data and Information must
be limited to the implementation of the Law and the resolutions issued in
pursuance thereof.
2.
The confidentiality of the Data and
Information must be maintained;
3.
The Data and Information must be
exchanged instantaneously and securely.
4.
The Electronic Platform must be used
exclusively by authorised employees of the DOF and the FAA.
Data
and Information will be exchanged between the DOF and the FAA exclusively by
the authorised employees, using the Electronic Platform or any other means
agreed mutually upon by both entities.
a.
The DOF, the FAA, and authorised
employees must maintain the confidentiality of Data and Information and must
not disclose them to any party not legally authorised to receive the same.
b.
The DOF and the FAA will designate
the employees authorised to access the Data and Information.
c.
Employees authorised to exchange or
access the Data and Information must provide a written undertaking to maintain
the confidentiality of Data and Information, and not to disclose or use them
for other than their designated purpose even after the end of their service.
d.
Any unauthorised disclosure of Data
and Information will constitute a violation subject to disciplinary action and,
where applicable, to criminal liability.
A
joint working group will be formed between the DOF and the FAA and named the
“Data and Information Coordination Team”. This team will be responsible for
implementing this Resolution and will have the duties and powers to:
1.
develop detailed procedures for the
exchange of Data and Information;
2.
organise and classify Data and
Information to facilitate their exchange;
3.
classify authorised employees and
determine their respective access levels on the Electronic Platform;
4.
conduct periodic reviews to ensure compliance
with security standards and the protection of Data and Information on the
Electronic Platform;
5.
establish mechanisms for the
immediate reporting of any breach or hacking of Data and Information;
6.
examine any obstacles, challenges,
or issues impeding the exchange of Data and Information, and propose
appropriate solutions to address them;
7.
submit recommendations to the Director General
of the DOF and the Director General of the FAA to issue the relevant directives
as they deem appropriate; and
8.
exercise any other duties or powers
required for the exchange of the Data and Information.
This
Resolution will be published in the Official Gazette and will come into force
on the day on which it is published.
Abdulrahman
Saleh Al Saleh
Director General
Department of Finance
Issued in
Dubai on 20 August 2025
Corresponding to 26 Safar 1447 A.H.
©2025 The Supreme Legislation Committee in the
Emirate of Dubai
[1]Every effort has been made to produce an
accurate and complete English version of this legislation. However, for the
purpose of its interpretation and application, reference must be made to the
original Arabic text. In case of conflict, the Arabic text will prevail.