UAE Cabinet Decision on Determining Qualifying Income of a Qualifying Free Zone Person

The UAE Ministry of Finance has published Cabinet Decision No. 55 of 2023 on determining qualifying income of a qualifying free zone person (entity established in a free zone) for the purpose of the new Corporate Tax Law. The Ministry has also issued a related decision, Ministerial Decision No. 139 of 2023, which specifies additional rules regarding qualifying activities and excluded activities, as well as rules regarding de minimis requirements. Key points of the two decisions are summari…