Article 1 - Definitions
Definitions in Federal Decree-Law No. 47 of 2022 referred to above shall apply to this Decision, with the exception that, the following words and expressions shall have the meaning assigned against each, unless the context requires otherwise:
International Sports Entity | : | A juridical person, association, federation, council, committee, or other organisation, whose principal objective is the promotion, administration, or development of one or more sports at the international or regional level, and is the international or regional governing or coordinating body for such sports, and is recognized by the Ministry of Sports, the Competent Authority, the International Olympic Committee, the International Paralympic Committee, the Olympic Council of Asia or any other committee or entity performing a similar function as may be listed in a decision issued by the Minister. |
Sports Entity | : | A juridical person that is wholly owned and controlled, directly or indirectly, by an International Sports Entity, and whose principal objective is the promotion, administration or development of one or more sports, and is recognized by or registered with the Ministry of Sports or the Competent Authority. |
Ancillary Entity | : | A juridical person that is wholly owned and controlled, directly or indirectly, by an International Sports Entity, that is established for the sole objective of carrying out activities, including administrative or operational activities, that are ancillary to those carried out by that International Sports Entity or a Sports Entity that is wholly owned and controlled, directly or indirectly, by that International Sports Entity. |
Competent Authority | : | Any local authority concerned with licensing, regulating, supervising and controlling sports entities and activities, in accordance with Federal Law No. 4 of 2023 Concerning Sports. |
Corporate Tax Law | : | Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, and its amendments. |