On the Imposition of Top-up Tax on Multinational Enterprises
The Cabinet:
- Having reviewed the Constitution,
- Federal Law No. 1 of 1972 on the Competencies of Ministries and Powers of the Ministers, and its amendments,
- Federal Decree-Law No. 28 of 2022 on Tax Procedures, and its amendments,
- Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, and its amendments,
- Pursuant to what was presented by the Minister of Finance and upon the approval of the Cabinet,
Decided:
Article One – The Imposition of Top-up Tax
The Top-up Tax shall be imposed on Multinational Enterprises in accordance with the cases, provisions, conditions, rules, controls, and procedures set out in the annexure.
Article Two – Application of the Decision to Fiscal Years
This Decision shall apply to Fiscal Years beginning on or after 1 January 2025.
Article Three – Publication and Application of the Decision
This Decision shall take effect on 1 January 2025 and shall be published in the Official Gazette.
Mohammed bin Rashid Al Maktoum
Prime Minister
Issued by us:
On: 30 / Jumada al-Akhir /1446
Corresponding to: 31 / December / 2024
Related Materials
Important Notice
The above extract has been provided for reference only and is based on information available in the public domain at the time of publication, which is subject to change. This does not constitute any form of advice or recommendation and therefore cannot be relied on to cover specific situations. We highly recommend that you consult with a qualified tax advisor in the UAE for personalized guidance based on your specific business circumstances. We accept no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication. Please refer to the following resources for the official and up-to-date information on the UAE Corporate Tax legal framework:- UAE Ministry of Finance: https://mof.gov.ae/tax-legislation/; and
- UAE Federal Tax Authority: https://tax.gov.ae/en/Legislation.aspx