Sharjah’s introduction of the Natural Resources Tax (NRT) in 2025 marks a significant change in the emirate’s taxation framework. The new law, effective from February 2025, imposes a 20% tax on extractive and non-extractive businesses operating within the natural resources sector. This shift aims to bring better transparency and predictability to the taxation of oil, gas, and other natural resource-related industries. Businesses operating in this sector must now ensure compliance with new tax requirements, reporting obligations, and potential penalties to avoid financial repercussions. This post offers a detailed overview of the new tax law, its implications for businesses, and the steps companies need to take to comply with these new regulations.