A new application for status as an Unincorporated Partnership has been made available to qualified Family Foundations by the Federal Tax Authority (FTA) using the “EmaraTax” digital tax services platform. According to Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, the Family Foundation must fulfill certain requirements in order to be granted this status.
Family foundations may be treated as unincorporated partnerships for corporate tax purposes in accordance with Ministerial Decision No. 261 of 2024 on Unincorporated Partnership, Foreign Partnership, and Family Foundation for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, provided that the requirements outlined in the law are met.
This is consistent with the FTA’s continuous endeavors to improve its services in line with global best practices, providing all-encompassing assistance to the business community and enabling precise and seamless adherence to the Corporate Tax Law and its protocols.
Family Foundations must already be registered for corporate tax in order to apply to be regarded as an unincorporated partnership. The FTA also made it clear that the taxpayer, their tax agent, or their legal representative may apply for a “Family Foundation to be treated as an Unincorporated Partnership.
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