Cabinet Decision No. 142/2024 The Imposition of Top-up Tax on Multinational Enterprise

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The Cabinet has decided:

Having reviewed the Constitution,

Federal Law No. 1/1972 on the Competencies of Ministries and Powers of the Ministers, and its amendments,

Federal Decree-Law No. 28/2022 on Tax Procedures, and its amendments,

Federal Decree-Law No. 47/2022 on the Taxation of Corporations and Businesses, and its amendments; and

Pursuant to what was presented by the Minister of Finance and upon the approval of the Cabinet,

Article 1 - The Imposition of Top-up Tax

The Top-up Tax shall be imposed on Multinational Enterprises in accordance with the cases, provisions, conditions, rules, controls and procedures contained in the annexure.

Article 2 - Application of the Decision to Fiscal Years

This Decision shall apply to the Fiscal Years beginning on or after 1 January 2025.

Article 3 - Publication and Application of the Decision

This Decision shall take effect on 1 January 2025 and shall be published in the Official Gazette.