The MNE (Multinational Group of Enterprises) Group is a group that includes:
Two or more companies with tax residence in different jurisdictions, or one single company having its tax residence in one country but being subject to tax in another country for the activity it carries out through a permanent entity in that another country.
Having a total consolidated group revenue equal to or more than AED3.15 billion during the fiscal year immediately preceding the reporting fiscal year as indicated in the consolidated financial statements for that preceding fiscal year.
An Ultimate Parent Entity (UPE) is defined as the Constituent Entity (CE) in the MNE Group that fulfills the following conditions:
Owns directly or indirectly a sufficient interest in one or more CEs of such MNE Group such as it is required to prepare Consolidated Financial Statements under the accounting principles generally applicable in its jurisdiction of tax residence, or be so required if its equity interests were traded on a public securities exchange in its jurisdiction of tax residence;
Its Group does not include any other CE that owns directly or indirectly an interest described in the above point in such entity.