UAE launches digital public consultation on R&D tax incentive |
The UAE Ministry of Finance (MoF) has launched a digital public consultation to gather stakeholder views on the potential implementation of a Research & Development (R&D) Tax Incentive under the UAE Corporate Tax law. The consultation aims to understand the scope of potential R&D activities undertaken by businesses in the UAE, what activities an R&D Tax Incentive may cover, and the potential implementation and administration of such an incentive. The Ministry believes in the importance of consulting with all stakeholders, including businesses, advisors, service providers, institutions, and investors. To familiarise stakeholders with the concept of R&D, a Guidance Paper is provided as part of the consultation. The Ministry says it welcomes clear and concise comments with supporting examples, data, or other information. The responses must be received by May 14, 2024, and will remain confidential. |
|