Decision of the GTA President No. 10 of 2022

The General Tax Authority President,

After perusal of Law No. 24 of 2018 promulgating the Income Tax Law,

Emiri Decree No. 77 of 2018 Establishing the General Authority for Taxes,

Council of Ministers Resolution No. 39 of 2019 promulgating the Executive Regulation of the Income Tax Law, and

The Decision of the GTA President No. 4 of 2020 regarding Transfer Pricing Declaration and Main and Local File Submission,

hereby has decided the following:

Article 1

Article 8 of the GTA President's Decision No. 4 of 2020 regarding Transfer Pricing Declaration and Main and Local File Submission is amended as follows:

"The main and local files shall be submitted no later than 60 days from the deadline for submitting the tax return for the taxable year being declared."

Article 2

Article 11 of the said decision, referred to in the text as Decision No. 4 of 2020, is amended as follows

"Pursuant to the provisions of Article 24 of the Income Tax Law, the financial penalties stipulated in paragraph 3 thereof shall apply to violations related to the obligation to submit the main and local files."

The obligation to submit a main and local file applies to the taxable year commencing on or after January 1, 2020.

Article 3

All competent authorities shall implement this decision, each within its jurisdiction, and it shall come into force as of the date of its issuance. It shall be published in the official gazette.

Signature Affixed

Ahmed bin Issa Al Muhannadi

General Tax Authority President

Issued on: 8/11/1443 AH

corresponding to: 7/6/2022 AD