UAE's Tax Authority has issued guide on taxation of extractive business and non-extractive natural resource business

FTA has issued the new guide for taxation of extractive business and non-extractive natural resource business (CTGEPX1).

This guide is designed to provide general guidance on Extractive Businesses and NonExtractive Natural Resource Businesses for Corporate Tax purposes. It provides readers with an overview of: 

• Scope of the Corporate Tax exemption for Extractive Businesses and Non-Extractive Natural Resource Businesses 

• How the Corporate Tax rules apply to Extractive Businesses and Non-Extractive Natural Resource Businesses. 

• How the Taxable Income of any other Business of an Extractive Business or Non-Extractive Natural Resource Business is determined.

• Compliance requirements for Extractive Businesses and Non-Extractive Natural Resource Businesses under the Corporate Tax Law. 

To access the full guide click on the below link