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June 26, 2026

Implementing Certain Provisions of the Multilateral Administrative Agreement for Automatic Exchange of Information

Ministerial Resolution No. 134 of 2021

The Minister of State for Financial Affairs

  • Upon perusal of the Constitution;

  • Federal Law No. (1) of 1972 Concerning Jurisdictions of Ministries and Powers of Ministers, as amended;

  • Federal Law No. (14) of 2016 on the Administrative Violations and Penalties in the Federal Government;

  • Federal Decree-Law No. (15) of 2018 Concerning the Collection of Revenues and Public Funds;

  • Federal Decree No. (48) of 2018 Ratifying the Multilateral Administrative Agreement for Automatic Exchange of Information;

  • Cabinet Resolution No. (17) of 2012 Concerning Collection and Exchange of Information for Implementing International Tax Agreements;

  • Cabinet Resolution No. 93 of 2021 Concerning Implementing Certain Provisions of the Multilateral Administrative Agreement for Automatic Exchange of Information; and

  • Minister of Finance Resolution No. 77 of 2021 Implementing Certain Provisions of the Multilateral Administrative Agreement for Automatic Exchange of Information.

Resolved:

Article 1 - DEFINITIONS AND INTERPRETATIONS

  1. Unless the context provides otherwise, any terms used under this Resolution shall have the meaning assigned to them under

    1. The Multilateral Administrative Agreement for Automatic Exchange of Information as ratified pursuant to Federal Decree No. 48. of 2018 ("Agreement"); and

    2. the Standard for Automatic Exchange of Financial Account Information issued by the Organization for Economic Co-operation and Development ("Common Reporting Standard"); and

    3. Cabinet Resolution No. 93 of 2021 Implementing Certain Provisions of the Multilateral Administrative Agreement for Automatic Exchange of Information ("Cabinet Resolution No. 93 of 2021"); and

    4. the Automatic Exchange of Financial Account Information Regulations set out in Schedule 1 of this Resolution ("Regulations").

  2. Reference to the term "this Resolution" shall mean this Resolution and the Regulations.

  3. Any interpretation of the provisions of this Resolution shall be in accordance with the Commentaries on the Common Reporting Standard, as issued and published from time to time by the Organization for Economic Co-operation and Development.

Article 2 - OBJECTIVES AND SCOPE OF APPLICATION

This Resolution shall apply to –

  1. any Reporting Financial Institution specified in paragraph (d), Clause 1 of Article 3 of Cabinet Resolution No. 93 of 2021 ("Reporting Financial Institution"); and

  2. any Account Holder and, if applicable, the Controlling Person with a Reportable Account maintained by a Reporting Financial Institution.

Article 3 - FUNCTIONS AND POWERS OF THE MINISTRY OF FINANCE AND THE FEDERAL TAX AUTHORITY