The UAE Ministry of Finance has issued issuance of Ministerial Decision No. 301 of 2024, which updates and replaces Ministerial Decision No 125 of 2023 for the regulation of tax groups under the Corporate Tax Law. The decision covers ownership requirements, rules in relation to transactions prior to forming or joining a tax group, relief for pre-grouping tax losses, business restructuring, and other issues. Updates include the addition of a new definition of "Financial Statements". Updates and clarifications are also made in relation to resident persons, as well as the application of the arm's length principle and transfer pricing documentation...