UAE Authority clarifies Conditions for exempting persons from CT on application to and approval by FTA and meeting conditions

FTA has issued a post related to conditions for exempting persons from Corporate Tax on application to and approval by FTA and meeting conditions.

Exempt after application to, and approval by the FTA*, and meeting relevant conditions

·         Qualifying Investment Funds

·         Public or Private Pension and social security Funds

·         Wholly Owned and controlled UAE Subsidiaries of certain exempt persons.

 Registration required from 01.June.2024

Note : Application for exemption must be made within 60 business days of the end of the tax period.