The UAE Ministry of Finance has published Ministerial Decision No. 302 of 2024, which updates and replaces Ministerial Decision No. 116 of 2023 for the regulation of the participation exemption under the Corporate Tax Law. The decision covers the types of instruments that qualify as an ownership interest for participation exemption purposes, the aggregation of ownership interests in the same juridical person to determine whether a taxable person has a qualifying participating interest, the treatment of qualifying transfers of ownership interests as the same continuous ownership interest, and various other issues concerning the participation exemption. Updates include the addition of...