Legislation Details
- Full Title: Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax
- Law Type: Federal Decree-Law
- Law Number: 37 of 2023
- Issued Date: 07 Apr 2023
- Effective Date: 15 Apr 2023
- Official Gazette: No. 749
- Sector: Tax
- Status: Active
- Number of Articles: 12
- Chapters/Parts: 0
- Amendments: 0
Summary
This Cabinet Resolution establishes the list of Eligible Public Benefit Entities for the purposes of Federal Decree-Law No. (47) of 2022 Concerning Corporate Tax. It defines the process for amending the list of eligible entities and the obligations of these entities and government agencies to provide information to the Ministry of Finance and the Federal Tax Authority. The Resolution aims to provide clarity on the entities that are exempt from corporate tax under the Corporate Tax Law. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 1-6)
What is the scope and purpose of this law?
The scope of this Cabinet Resolution is to define the Eligible Public Benefit Entities that are exempt from corporate tax under Federal Decree-Law No. (47) of 2022 Concerning Corporate Tax. The purpose is to provide a clear list of the entities that qualify for this exemption and the process for amending the list. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 1-2)
What are the key definitions under this law?
The key definition under this Resolution is:
- Eligible Public Benefit Entities: The entities specified in the Table attached to this Resolution are Eligible Public Benefit Entities for the purposes of the Corporate Tax Law. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 2)
What are the main obligations and requirements?
The main obligations under this Resolution are: 1. Government agencies must notify the Ministry of Finance of any changes that affect an Eligible Public Benefit Entity's continued fulfillment of the conditions stipulated in the Corporate Tax Law. This notification must be provided within 20 working days. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 2) 2. Eligible Public Benefit Entities must provide the Ministry and the Federal Tax Authority with all relevant documents, data, and information to confirm they meet the requirements of the Corporate Tax Law. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 4) 3. All government agencies in the UAE must cooperate fully with the Ministry and Authority to provide data, documents, and information relating to Eligible Public Benefit Entities and their activities. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 4)
Which authorities or bodies are responsible for enforcement?
The key authorities responsible for enforcement under this Resolution are: 1. The Ministry of Finance, which is responsible for maintaining the list of Eligible Public Benefit Entities and making amendments to it. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 3) 2. The Federal Tax Authority, which works with the Ministry to obtain information and documents related to Eligible Public Benefit Entities. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 4)
How does this law interact with other UAE legislation?
This Cabinet Resolution is closely related to and issued pursuant to Federal Decree-Law No. (47) of 2022 Concerning Corporate Tax. It provides the list of entities that are eligible for the public benefit exemption under the Corporate Tax Law. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Preamble)
When did this law come into effect?
This Cabinet Resolution came into effect on 15 April 2023, the day following its publication in the Official Gazette No. 749. (Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax, 2023, Art. 6)
Source Documents
This article analyses Cabinet Resolution Concerning Eligible Public Benefit Entities for the Purposes of Federal Decree-Law (47) of 2022 Concerning Corporate Tax for legal research and educational purposes. For the purpose of interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text prevails. This does not constitute legal advice.