Article 1
1. Two new definitions shall be added to the definitions under Article 1 of the Federal Decree-Law No. 47 of 2022 referred to above:
Top-up Tax | : | The top-up tax imposed on Multinational Enterprises in accordance with this Decree-Law and the rules and controls to be determined by the Cabinet under Article 3 of this Decree-Law for the purposes of the pillar two rules issued by the Organization for Economic Cooperation and Development. |
Multinational Enterprise | : | An entity and/or one or more of its member entities located in the State or in a foreign jurisdiction, as specified in a decision to be issued by the Cabinet at the suggestion of the Minister. |
2. A new Clause numbered (3) shall be added to Article 3 of the Federal Decree-Law No. 47 of 2022 referred to above, its text is as follows:
Article (3 Clause 3)
Without prejudice to the provisions of Clauses (1) and (2) of this Article, the Cabinet at the suggestion of the Minister shall issue a decision regulating all cases, provisions, conditions, rules, controls, and procedures for imposing the Top-up Tax on Multinational Enterprises and the exemptions therefrom, so that the total percentage of the effective tax imposed on them is (15%) fifteen percent.