Imposition of Corporate Tax and Applicable Rates

Corporate tax shall be imposed on Taxable Income at the rates determined under this Decree-Law, and payable to the Authority under this Decree-Law and the Tax Procedures Law. VAT registration is also required.

Corporate Tax Rate

1. Corporate Tax shall be imposed on the Taxable Income at the following rates:

a) 0% (zero percent) on the portion of the Taxable Income not exceeding the amount specified in a decision issued by the Cabinet at the suggestion of the Minister.

b) 9% (nine percent) on Taxable Income that exceeds the amount specified in a decision issued by the Cabinet at the suggestion of the Minister.

2. Corporate tax shall be imposed on a qualifying free zone person at the following rates for VAT services 0% (zero percent) on Qualifying Income.

b) 9% (nine percent) on Taxable Income that is not Qualifying Income under Article 18 of this Decree-Law and any decision issued by the Cabinet at the suggestion of the Minister in respect thereof.