A recent decision by the Tax Dispute Resolution Committee (TDRC) upheld an appeal by an international corporate and investment bank against fines and penalties imposed by the UAE Federal Tax Authority (FTA) in respect of a voluntary disclosure made by the bank. Baker McKenzie Habib Al Mulla successfully represented and obtained the favourable decision for the bank, with the TDRC ordering the FTA (the Defendant) to repay the amount paid for the fines and penalties to the bank (the Plaintiff).
More importantly, the TDRC confirmed the same interpretation of the provisions of the tax law which was adopted in a recent decision by the UAE Federal Courts in a precedent case involving a UAE based company (also represented by Baker McKenzie Habib Al Mulla). The Abu Dhabi Court of First Instance’s full reasoning is set out in the Annex hereto.
This latest judgment continues the successes recorded by Baker McKenzie Habib Al Mulla on tax matters before the tax tribunals and courts. We are happy to support you throughout the challenge process in relation to your tax dispute and litigation matters. For further information, please contact Mohamed El Baghdady and Reggie Mezu of the UAE Tax team or your usual Baker McKenzie contact.