Cabinet Decision No.100 and Ministerial Decision No.265 of 2023
Another development in the UAE Corporate Tax (UAE CT) framework comes pursuant to the public consultation paper released by the UAE Ministry of Finance (MoF) on 19 July 2023 for the classification of Qualifying Activities and excluded activities.
The MoF has repealed the decisions issued earlier for determining the Qualifying Income (QI) of a Qualifying Free Zone Person and defining Qualifying Activities and Excluded Activities. The same is now replaced with new decisions that give additional clarity on a few aspects and introduce some new benefits for the taxpayers, especially with respect to the exploitation of Intellectual Property Rights and trading in Qualified Commodities.