Abu Dhabi: The Ministry of Finance has signed a Memorandum of Understanding (MoU) with Ras Al Khaimah Free Trade Zone with the aim of working towards ensuring international standards of transparency in the exchange of information for tax purposes.
The memorandum will implement transparency between both parties, ensuring that a principled process is applied to tax legislation that affects companies and individuals.
The agreement also aims to strengthen the cooperation between authorities responsible for the exchange of information for tax purposes.
