For entities operating in free zones, it is likely that no income tax applies to local subsidiary (provided certain conditions are met) and a subsidiary tax deduction is generally not relevant.
Otherwise, where corporate income tax applies to the local subsidiary, a deduction should be permitted if an accounting deduction has been taken.
Please contact Baker McKenzie for details.
Income Tax:
N/A
Social Insurance Contribution:
Likely not applicable.
Generally, none (but a securities legend should be included in the offer materials).