Sharjah passes draft law on natural resources corporate tax

Sharjah approves draft law on natural resources corporate tax: Sharjah's Consultative Council (SCC) greenlit a draft law introducing a corporate tax for extractive and non-extractive natural resources in the emirate, Wam reports.

REMEMBER- The council's Financial, Economic, and Industrial Affairs Committee reviewed adraft law last month proposing the taxation for companies engaged in natural resource activities within the emirate.

What’s next? The law should now make its way to the emirate’s ruler Sheikh Sultan bin Mohammed al-Qasimi to be ratified.