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Document Type: Tax Law Article
Law: CIT (FDL No 47 of 2022)
Article Number: 21
Country: đŸ‡ĻđŸ‡Ē UAE
Location: Chapter 6 - Calculating Taxable Income
Order: 21

Article 21 - Small Business Relief

Chapter 6 - Calculating Taxable Income

Article 21 - Small Business Relief

[See GTL Notes]

  1. A Taxable Person that is a Resident Person may elect to be treated as not having derived any Taxable Income for a Tax Period where:

    1. the Revenue of the Taxable Person for the relevant Tax Period and previous Tax Periods does not exceed a threshold to be set by the Minister; and

    2. the Taxable Person meets all other conditions prescribed by the Minister.

  2. Where Clause 1 of this Article applies to a Taxable Person, the following provisions of this Decree-Law shall not apply:

    1. Exempt Income as specified in Chapter Seven of this Decree-Law.

    2. Reliefs as specified in Chapter Eight of this Decree-Law.

    3. Deductions as specified in Chapter Nine of this Decree-Law.

    4. Tax Loss relief as specified in Chapter Eleven of this Decree-Law.

    5. Article 55 of this Decree-Law.

  3. The Authority may take the necessary measures to verify the compliance with the conditions of Clause 1 of this Article, and may request any relevant information or records from the Taxable Person within the timeline prescribed by the Authority.