Search DubaiPRNetwork.com

Dubai and UAE

Friday, April 19, 2024/ Editor

Home >> Local News and Government

Ministry of Finance Launches Digital Public Consultation on Potential Implementation of R&D Tax Incentive

Home >> Local News and Government

Abu Dhabi, UAE: 19 April 2024 – The UAE Ministry of Finance today announced the launch of a digital public consultation to gather the views of relevant stakeholders on the potential implementation of a Research & Development (R&D) Tax Incentive under the UAE Corporate Tax law. The consultation will be open from 19 April to 14 May 2024, and accessible via the Ministry’s website and the UAE’s Government portal.

The digital public consultation reflects the Ministry’s belief in the importance of consulting with all stakeholders including businesses operating in the UAE, advisors, service providers, institutions and investors.

The purpose of the consultation is to understand the scope of potential R&D activities undertaken by businesses and corporations in the UAE, what activities an R&D Tax Incentive may cover, and the potential implementation and administration of an R&D Tax Incentive.

Given a R&D Tax Incentive would be a new concept in the UAE and to familiarise stakeholders with the concept of R&D, a Guidance Paper is also provided as part of this consultation, which will provide stakeholders with an understanding of activities that may be defined as R&D, in line with the definition of R&D provided in the Organisation for Economic Co-operation and Development’s (OECD) Frascati Manual.

The UAE Ministry of Finance welcomes clear and concise comments with, where possible, examples, data, or other information to support views being put forward in the response to this consultation. The responses must be received by 14 May 2024, and will remain confidential and will not be published.

 

Share


Previous in Local News and Government

Next in Local News and Government


Home >> Local News and Government Section

Latest Press Release

RTA Completes Traffic Upgrades to Improve Connectivity Between Sheikh Zayed Road and Al Khail Road v ...

Dubai Municipality Announces Registration Opening for the Second Edition of the Food Systems Excelle ...

Emirates Aviation University marks 35 years of supporting the local and global aviation ecosystem

Emirates layers on retrofitted aircraft with latest product, including Premium Economy to more citie ...

Music, Maps, and Stories at the Mohammed Bin Rashid Library in July

New SHEGLAM Daydreamer Mini Palette Turns Pocket-Sized into Power Pigment

GEMS Education launches GEMS School Management (GSM) to deliver world-class schools globally; in adv ...

Dubai Airshow 2025 unveils new features as registration opens, promising unmatched experiences on an ...

Passenger Growth Hits 5% in May

João Almeida: Racing for Glory and Riding for the Team

May Air Cargo Demand Up 2.2% Despite Trade Disruptions

Return to Ritual: Celebrate Self-Care Month with BUFARMA Skincare

Dubai Government Human Resources Department organises 2nd Human Resources Forum of 2025 to discuss e ...

Dubai Customs and Dubai Police: A strategic partnership to protect the homeland and to promote stabi ...

Rediscover family shopping days: REDTAG opens its doors in Al Ain

Dubai Culture Launches Open Call for 14th Sikka Art & Design Festival

Summer Restaurant Week Returns This DSS with Over 65 Exclusive Dining Deals Across Dubai

Julien Calloud Appointed CEO of SAVOYE to Lead a New Era of Performance and Innovation

Zoho Powers Up CRM for Everyone Platform with AI to Elevate Customer Experience

Media's Role in the Age of Algorithms By HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum