Corporate tax: UAE Ministry of Finance launches digital public consultation : Free Zone Public Consultation

[troubled soul]

https://mof.gov.ae/free-zone-public-consultation/

 

[Au999]

That's good news clearly they know mistakes have been made!

Saying that how many businesses would want to fill in their full details before being critical of the UAE government? Less keeping a low profile and more painting a target on your back...

 

[troubled soul]

Let's see...wait and watch....seems everyday new development emerege...some good and some bad... since yesterday I was thinking about how harsh is this new law ? today morning this form give me hope that ...there is a still chance of tax free freezone....

Even top tax firm like PWC,KPMG etc mention so many time in their FAQ on new corporate tax that "The CT law has not defined the meaning of ‘Qualifying Income’ and it is expected to be clarified through Cabinet Decision."

UAE Federal Corporate Tax

As new and more complex forms of doing business develop, income tax is also being amended to keep pace. Recently, the scope and frequency of these amendments have accelerated due to international requirements, especially as part of the programme for combating tax base erosion and profits...

www.pwc.com

 

[lacomaco]

I just went through the website of the Finance Ministry Q&A. Section (https://mof.gov.ae/corporate-tax-faq/). Section 116 How are Qualifying Free Zone Persons taxed under the UAE Corporate Tax regime? says that "Qualifying Free Zone Persons are subject to a 0% Corporate Tax rate on their taxable income from Qualifying Activities and transactions with other Free Zone Persons, unless the income is derived from an Excluded Activity". What is the situation with activities which are NOT mentioned as Qualifying OR Excluded activities?

 

[uranium]

I just went through the website of the Finance Ministry Q&A. Section (https://mof.gov.ae/corporate-tax-faq/). Section 116 How are Qualifying Free Zone Persons taxed under the UAE Corporate Tax regime? says that "Qualifying Free Zone Persons are subject to a 0% Corporate Tax rate on their taxable income from Qualifying Activities and transactions with other Free Zone Persons, unless the income is derived from an Excluded Activity". What is the situation with activities which are NOT mentioned as Qualifying OR Excluded activities?

This matter of qualified activities is not clear yet
I think by 2024 it will be clear
For now let's wait and watch