UAE, 11 March, 2025 : The Federal Tax Authority (FTA) has launched a new application on the EmaraTax platform, allowing eligible Family Foundations to apply for recognition as an Unincorporated Partnership under Corporate Tax regulations.
This initiative aligns with Ministerial Decision No. 261 of 2024 and Federal Decree-Law No. 47 of 2022, ensuring that Family Foundations meeting specific conditions can benefit from this classification for tax purposes.
Once approved, the Family Foundation will no longer be required to file Corporate Tax Returns. However, individual beneficiaries must assess their tax registration and filing obligations for the relevant tax period.
To apply, Family Foundations must be registered for Corporate Tax. Applications can be submitted by the taxpayer, their Tax Agent, or their legal representative. More details and requirements are available on the FTA website.
Source : www.wam.aeRelated Posts
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