Director General of the Finance Department,
- Having reviewed Dubai Law No. 5 of 1995 Establishing the Finance Department,
- Dubai Law No. 4 of 2018 Establishing the Financial Audit Authority and its amendments,
- Dubai Law No. 1 of 2024 on the Tax on Foreign Banks Operating in the Emirate of Dubai,
has decided the following:
The words and phrases mentioned in this Decision shall have the same meanings assigned to them in Dubai Law No. 1 of 2024 referred to, and for the purposes of this Decision, the following words and phrases shall have the meanings indicated opposite each of them, unless the context requires otherwise:
Financial Year: The year that begins on the first day of January and ends on the thirty-first day of December of each year.
Capital Expenditures: Expenditures that are not of an operational nature, which benefit the foreign bank during subsequent Financial Years.
Central Management Expenditures: Supervisory Expenditures for managing the head office over international branches, including taxable persons.
Region...