Other specialized construction activities

ISIC 439 involves specialized construction which is intrinsically linked to immovable property. Under the Qualifying Income regime, income from immovable property is only qualifying if the property is located within a Free Zone and the transaction is with a Free Zone Person. If the construction activity occurs on a Mainland site, the income is automatically categorized as Excluded Income regardless of the entity's Free Zone status.

Audit Red Flag

Reclassification of 'Mainland' site services as 'Free Zone' consultancy to bypass the 9% rate on immovable property income.

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