UAE, 19 April, 2024 : The UAE Government is considering introducing Research and Development (R&D) tax incentives to foster innovation and boost economic diversity. The Ministry of Finance seeks input from stakeholders to shape the design of these potential incentives.
Stakeholders are invited to participate in a consultation process, which includes a questionnaire to gather insights on current and anticipated R&D activities within businesses. Additionally, a guidance paper is provided, outlining the internationally recognized definition of R&D as per the OECD's Frascati Manual.
It's important to note that the information presented in this consultation paper does not constitute professional advice and should not be solely relied upon for decision-making. The final policy position of the Ministry of Finance and the UAE Government may evolve during the evaluation process.
Interested parties are encouraged to submit their comments by May 14, 2024, ensuring clarity and providing relevant examples or data to support their views.
Click link below to access
Guidance Paper on the Foundations ofResearch and Development (“R&D”)
Source : www.mof.gov.ae
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