We Saud bin Saqr bin Mohammed Al Qasimi Ruler of Ras Al Khaimah
- Having reviewed the Constitution;
- Federal Decree-Law No. 28 of 2022 on Tax Procedures;
- Federal Decree-Law No. 47 of 2022 On Taxation of Corporations and Businesses, and its amendments;
- Ras Al Khaimah Law No. 7 of 2012 concerning the establishment of the Executive Council of the Emirate of Ras Al Khaimah;
- Ras Al Khaimah Law No. 8 of 2017 concerning tax on branches of foreign banks in Ras Al Khaimah;
- and with the approval of the Executive Council
have issued the following Law:
The provisions of Article 3, Article 5, Article 6, Article 8 and Clause (1) of Article 12 of Ras Al Khaimah Law No. 8 of 2017 referred to above shall be replaced by the following provisions:
1. A tax shall be levied at a rate of twenty per cent (20%) of the branch’s tax base.
2. The corporate tax imposed pursuant to Federal Decree-Law No. 47 of 2022 On Taxation of Corporations and Businesses shall be deducted from the rate referred to in Clause (1) of this Article.