The UAE Ministry of Finance has published new Ministerial Decisions on its official website. These documents amend the regulations that were previously in force.
- Ministerial Decision No. 301 of 2024 on Tax Groups for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the Decree-Law) amends Ministerial Decision No. 125 of 2023 on Tax Groups for the Purposes of the Decree-Law.
- Ministerial Decision No. 302 of 2024 on the Participation Exemption and Foreign Permanent Establishment Exemption for the purposes of the same Decree-Law amends Ministerial Decision No. 116 of 2023 On the Exemption of Participation for the Purposes of the Decree-Law.
Ministerial Decision No. 301 of 2024 introduces the following updates:
- Administrative exemptions. The Decision simplifies the requirements for foreign entities to prove that they are not tax residents related to other jurisdiction.
- Clarifications for companies forming tax groups. The Decision outlines the situations when tax groups should calculate the taxable income of one of ...