What are the administrative requirements for an Exempt Person to apply for the exemption?
Entities such as Qualifying Investment Funds, public pension or social security funds, or juridical persons wholly owned and controlled by an Exempt Person must register for Corporate Tax first. After registration, they must submit an application to the Federal Tax Authority for approval as an Exempt Person meeting the conditions outlined in the Corporate Tax Law or relevant implementing Decisions. Government Entities, Government Controlled Entities, Persons involved in Extractive Businesses, Non-Extractive Natural Resource Businesses, or Qualifying Public Benefit Entities do not need to apply for exemption.
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