Outcome statement from the OECD’s Inclusive Framework on BEPS

An update was published by the OECD on 12 July 2023 in relation to the status of the BEPS 2.0 project following the conclusion of the 15th meeting of the OECD/G20 Inclusive Framework. With so much of the focus seemingly on Pillar Two over the last number of months the Outcome Statement provides some important, albeit brief, updates in relation to Pillar One as well as the Subject to Tax Rule (STTR) from Pillar Two.

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The New CIT Cabinet And Ministerial Decisions: Insights On The Free Zone Corporate Tax Regime

The UAE MoF issued two landmark decisions on 1 June 2023: Cabinet Decision No. 55 of 2023 on Determining Qualifying Income and Ministerial Decision No. 139 of 2023 regarding Qualifying Activities and Excluded Activities. These decisions – effective immediately upon publication – provide essential guidance for businesses operating in one of the more than 40 multidisciplinary UAE’s FZ. We discuss those elements in further detail here.

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Working remotely tax free – not that simple

Explore the challenges of working remotely tax-free in Dubai. The virtual working program allows overseas employees to benefit from the tax advantages of residing in Dubai while retaining employment in their home countries. However, ensuring tax-free salary may not be as simple as it seems, with each case having unique considerations.

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UAE Publishes Corporate Income Tax Law

To Qualify or not to Qualify: Analysis and Tax Advisory on the UAE Free Zone Regime, Interaction with Pillar Two, and Beyond

Our new article delves into the UAE Free Zone Regime and its interaction with the recently introduced Corporate Tax (CT) legislation. Here, we highlight key aspects such as conditions for being considered a Qualifying Free Zone Person (QFZP), transfer pricing requirements to be followed, the potential impact of BEPS Pillar Two on multinational companies, and more.We also discuss here practical considerations for businesses operating in UAE Free Zones, emphasizing the importance of understanding the definition of “Qualifying Income” and compliance with various regulatory requirements.

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Tax exemptions for KSA Regional Headquarters

The introduction of the Regional Headquarters Program (“RHQ”) fits in with Vision 2030. This joint initiative between the Ministry of Investment (“MISA”) and the Royal Commission for Riyadh City (“RCRC”), invites global companies with a presence in the MENA region to relocate their regional headquarters to the KSA, promising accessibility to the ever-expanding economy of Saudi Arabia and to be part of the 2030 strategic development goals.

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