UAE lists more entities for corporate tax exemption

Monday, 24 April 2023 09:36

By ARN News Staff

Public benefit entities in the UAE will be exempt from corporate tax under a new Cabinet decision, the Ministry of Finance announced.

This exemption recognises the important role played in areas such as religion, charity, science, education and culture.

To remain eligible, these entities must comply with relevant laws and notify the Ministry of Finance of any changes that may affect their status.

Those exempt can receive donations and will be recognised as deductible expenses under Article 33 of the Corporate Tax Law.

The Cabinet can modify the list of qualifying entities based on the Finance Minister's recommendation.

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