This is not an Official Translation:
The Imposition of Top-up Tax on Multinational Enterprises
Cabinet Decision No. 142 of 2024
Issued 31 December of 2024 - (Effective from 1 January 2025)
The Cabinet has decided:
Having reviewed the Constitution;
Federal Law No. 1 of 1972 on the Competencies of the Ministries and Powers of the Ministers, and its amendments; and
Federal Decree-Law No. 28 of 2022 on Tax Procedures, and its amendments; and
Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, and its amendments; and
Pursuant to what was presented by the Minister of Finance and upon the approval of the Cabinet.
Article 1 - The Imposition of Top-up Tax
The Top-up Tax shall be imposed on Multinational Enterprises in accordance with the cases, provisions, conditions, rules, controls and procedures contained in the annexure.
Article 2 - Application of the Decision to Financial Years
This Decision shall apply to the Fiscal Years beginning on or after 1 January 2025.
Article 3 - Publication and Application of the Decision
This Decision shall take effect on 1 January 2025 and shall be published in the Official Gazette.