Fishing

Under the UAE CT framework, the extraction of natural resources is an Excluded Activity. Fishing (ISIC 031) involves the harvesting of biological natural resources. Unless the entity is strictly performing 'Processing' (ISIC 1020) as a separate Qualifying Activity, the primary income from the catch is subject to the 9% headline rate as it fails the Qualifying Activity test under the 'Extraction' exclusion.

Audit Red Flag

Attempting to recharacterize 'Extraction of Natural Resources' as 'Manufacturing or Processing of Goods' to illicitly access the 0% regime

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