Head of the Department of Finance
- Having reviewed Ajman Emiri Decree No. 15 of 2012 Concerning the Department of Finance in Ajman and its amendments;
- Ajman Emiri Decree No. 5 of 2017 Concerning the Financial Supervisory Authority in Ajman;
- Ajman Law No. 3 of 2024 Concerning the Tax on Foreign Banks Operating in the Emirate of Ajman
have decided the following:
The words and expressions contained in this Decision shall have the meanings assigned to them in Ajman Law No. 3 of 2024 referred to above. For the purposes of this Decision, the following words and expressions shall have the meanings indicated opposite each of them, unless the context of the text requires otherwise:
Financial Year: The year beginning on the first day of January and ending on the thirty-first day of December of each year.
Capital Expenditure: Expenditure of a capital nature that is not operational in nature and that benefits the foreign bank in subsequent Financial Years.
Central Administration Expenses: Supervisory expenses i...