The distribution of materials from a Designated Zone to a customer who processes these materials and sells the product of processing qualifies for the 0% Corporate Tax rate in the UAE. Manufacturing is defined as an activity separate from Processing. In this case study, we examined the difference between processing and manufacturing in the scenario where raw materials are sold to a factory to manufacture a ready-to-use product.
On October 28, the Minister issued Decision No. 261, introducing pivotal updates under Article 5(2). This decision expands the scope of entities eligible for tax transparency, allowing 𝗮𝗻𝘆 𝗷𝘂𝗿𝗶𝗱𝗶𝗰𝗮𝗹 𝗽𝗲𝗿𝘀𝗼𝗻
Read moreThe UAE’s Corporate Tax Law has introduced beneficial provisions for Family Foundations, trusts, and similar entities, offering these structures the potential to attain tax-transparent status. However, while the law allows
Read moreLast week, the FTA introduced Public Clarification TAXP008, highlighting a significant update within the Tax Procedures Law. Since March 2023, taxpayers have had access to an alternative mechanism for resolving
Read moreWhether you have a question, need advice, or are ready to explore tax solutions for your business, don't hesitate to reach out
