Cabinet Resolution No. (142) of 2024 Imposing a Top-up Tax on Multinational Enterprises

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Cabinet Resolution Imposing a Top-up Tax on Multinational Enterprises
Cabinet Resolution Imposing a Top-up Tax on Multinational Enterprises

The last update on this law was listed on 31 Dec 2024

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Issued Date

31 Dec 2024

Effective Date

01 Jan 2025

Official Gazette Date

30 Jan 2025

Official Gazette No

792

Legislation State

Active

Regulation Table

1

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Index
Index
Article (1) Levy of the Top-up Tax
Article (2) Application of the Resolution to Fiscal Years
Article (3) Entry into Force and Publication
Cabinet Resolution No. (142) of 2024 Imposing a Top-up Tax on Multinational Enterprises

The Cabinet
Having reviewed:
- The Constitution;
- Federal Law No. (1) of 1972 concerning the Competences of Ministries and the Powers of Ministers, as amended;
- Federal Decree-Law No. (28) of 2022 concerning Tax Procedures, as amended;
- Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses, as amended; and
- Based on the Proposal of the Minister of Finance and the Cabinet's Approval thereof,
Hereby resolves as follows:

Article (1) Levy of the Top-up Tax

The top-up tax shall be levied on multinational enterprises in accordance with the cases, terms, conditions, rules, controls and procedures contained in the attachment.

Article (2) Application of the Resolution to Fiscal Years

This Resolution shall apply to fiscal years beginning on or after 1 January 2025.

Article (3) Entry into Force and Publication

This Resolution shall enter into force as of 1 January 2025 and shall be published in the Official Gazette.

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