Who is exempt from uae corporate tax?
It conducts a Business or Business Activity under a License issued by a Licensing Authority. Under a Licence issued by a Licensing Authority, it shall be treated as an independent Business, and shall keep financial statements for this Business separately from the Government Entity?s other activities. It shall calculate the Taxable Income for its Business or Business Activity independently for each Tax Period, in accordance with the provisions of this Decree-Law. Transactions between the Business or Business Activity this Article and the other activities of the Government Entity shall be considered Related Party transactions subject to the provisions of Article 34 of this Decree-Law. It may apply to the Authority for all its Businesses and Business Activities to be treated as a single Taxable Person for the purposes of this Decree Law
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Category: Accounting/management
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