Taxable persons under the Corporate Tax Law.

We would like to remind of the taxable persons under the Corporate Tax Law.

*Resident Juridical Persons*
1. Incorporated under the laws of the UAE
– Under mainland legislation or applicable free zone regulations
– Also includes juridical persons created by a specific statute / decree

2. Foreign incorporated but effectively managed and controlled in UAE
– Needs to be determined with regard to specific facts and circumstances
– One of the key factors being where key management and commercial decisions related to strategic and policy matters necessary for the conduct of the company’s business are regularly and predominantly made in the UAE

Basis of Taxation – Residents

*Juridical Persons*
– Subject to tax on global income (Taxable Income derived from the UAE as well as outside the UAE)

*Natural Persons*
– Taxable on income from taxable Business or Business Activity derived from the UAE
– Taxable on income derived outside UAE insofar as it relates to Business or Business Activity conducted in the UAE.