Corporate Tax News: New decisions published by MOF on Free Zone Relief
03 November 2023
The Ministry of Finance (MoF) has announced two new Decisions on Free Zone relief:
- Cabinet Decision No. 100 of 2023 on Determining Qualifying Income for the Qualifying Free Zone Person for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
- Ministerial Decision No. 265 of 2023 Regarding Qualifying Activities and Excluded Activities for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
The decisions are effective from 1 June 2023. The new decisions will replace the earlier Cabinet Decision No. 55 of 2023 on Qualifying Income, and Ministerial Decision No. 139 of 2023 Regarding Qualifying Activities and Excluded Activities.
The new decisions have come in post the public consultation carried out by the MoF in August 2023. There are some changes from the earlier decisions, and we will share our insights on the new decisions shortly.
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