Corporate Tax Guide | CTGFZP1 | May 2024
Accounting Standards: The accounting standards specified in Ministerial Decision No. 114 of 2023.
Administrative Penalties: Amounts imposed and collected under the Corporate Tax Law or the Tax Procedures Law.
AED: The United Arab Emirates dirham.
Aircraft: Any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the surface of the earth.
Beneficial Recipient: For the purposes of Article 3 of Cabinet Decision No. 100 of 2023 in relation to determining if income is derived from transactions with a Free Zone Person, it shall mean a Person who has the right to use and enjoy the service or the Good and does not have a contractual or legal obligation to supply such service or Good to another person.
Business: Any activity conducted regularly, on an ongoing and independent basis by any Person and in any location, such as industrial, commercial, agricultural, vocational, professional, service or excavation activities or any other activity related to the use of tangible or intangible properties.
Business Activity: A...