Ministry of Finance: The Cabinet’s decision regarding the coalition’s coalition is issued"Tax"
Abu Dhabi, May 24 / WAM / The Ministry of Finance announced today, the issuance of the Cabinet’s decision regarding the joint coalition, which was approved by the Federal Tax Authority for his treatment as a tax subject for the purposes of decree by Law No. 47 of 2022 regarding the tax and business tax. The corporate tax law provides for the coalition’s treatment, according to the principle of tax transparency, as the coalition is not subject to the tax in itself, but the tax is imposed on partners according to their classes, and the law gives the partners the option to apply for the coalition treatment as a taxable entity, along the lines of any other legal person.
Among the most prominent of what is included in the new decision is that when agreeing to the request for tax transaction from partners in the joint coalition, he is considered a legal person and a resident person, which gives him the same tax transaction prescribed for legal persons, and the decision determines the tax container of the joint coalition to ensure clarity of tax compliance.
This measure aims to enhance tax equality, which gives the joint coalition the ability to benefit from tax exemptions and facilities prescribed for legal persons in accordance with the corporate tax law.
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