Article 21 – Small Business Relief^[1]

1. A Taxable Person that is a Resident Person may elect to be treated as not having derived any Taxable Income for a Tax Period where:

1. 1. the Revenue of the Taxable Person for the relevant Tax Period and previous Tax Periods does not exceed a threshold to be set by the Minister; and
   2. The Taxable Person meets all other conditions prescribed by the Minister.

2. Where Clause 1 of this Article applies to a Taxable Person, the following provisions of this Decree-Law shall not apply:

1. 1. Exempt Income as specified in Chapter Seven of this Decree-
   2. Reliefs as specified in Chapter Eight of this Decree-Law.
   3. Deductions as specified in Chapter Nine of this Decree-Law.
   4. Tax Loss relief as specified in Chapter Eleven of this Decree-
   5.  Article 55 of this Decree-Law.

3. The Authority may take the necessary measures to verify the compliance with the conditions of Clause 1 of this Article, and may request any relevant information or records from the Taxable Person within the timeline prescribed by the Authority.
   

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   [1]Ministerial Decision No. 73 of 2023 on Small Business Relief for the Purposes of Federal Decree- Law No. 47 of 2022 on the Taxation of Corporations and Businesses