Picture for illustrative purposes only. ARCHIVE

The UAE has announced new rules on intellectual property tax and tax exemptions. Under the revised Cabinet decision, no corporate tax will apply to income that free zone businesses earn from physical trading of metals, minerals, energy, and agricultural commodities that are traded on a recognised stock exchange. The associated derivative trading income used to hedge against is also corporate tax exempt. Under the revised law, qualifying income is extended to include the amount of qualifying income derived from the ownership or exploitation of Qualifying Intellectual Property. Trading of Qualifying Commodities is now listed as a Qualifying Activity, which allows for the free zone 0% corporate tax rate to apply. ICA/Expat Media
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