Article 1 - Definitions
Words and expressions in this Decision shall have the same meanings specified in the Federal Decree-Law No. 47 of 2022 referred to above (“Corporate Tax Law”), and the following words and expressions shall have the meanings assigned against each, unless the context otherwise requires:
Parent Company | : | A Resident Person that can make an application to the Authority to form a Tax Group with one or more Subsidiaries in accordance with Clause 1 of Article 40 of the Corporate Tax Law. |
Subsidiary | : | A Resident Person in which the share capital or Membership or Partnership Capital, as applicable, is held by a Parent Company, in accordance with Clause 1 of Article 40 of the Corporate Tax Law. |
Membership or Partnership Capital | : | The capital paid to a juridical person where the paid capital is divided into membership or partnership interests by a Person in order to be a member or a partner and have the rights of membership or partnership in that juridical person. |
Financial Statements | : | A complete set of statements as specified under the Accounting Standards applied by the Taxable Person, which includes, but is not limited to, statement of income, statement of other comprehensive income, balance sheet, statement of changes in equity and cash flow statement. |