This comprehensive Guidance Note issued by the Ministry of Finance details the implementation of the Common Reporting Standard in the UAE. It outlines the legal framework supported by Federal Law No. 48 of 2018 and Federal Law No. 54 of 2018. The document clarifies the 'widest approach' adopted by the UAE, requiring due diligence on all non-US and non-UAE tax residents. Key provisions include the definition of Reporting Financial Institutions, the appointment of Regulatory Authorities (including the Central Bank and SCA), and specific timelines for reporting (annually by 30 June). It implements Sections I through IX of the CRS Regulations, covering due diligence for new and pre-existing accounts, anti-avoidance measures, and rigorous self-certification requirements for residency claims.