Taxable Income–(Article 20) Taxable Income– Financial Statements (Article 20) Taxable Person that prepares financial statements on an accrual basis may elect to take into account gains and losses on a realization basis in relation to: Exempt Income–(Article 22) Participation Exemption…
Related Parties–(Article 35) Transactions between Related Parties–(Article 34) Arm’s length ruleThe arm’s length result of a transaction or arrangement between Related Parties must be determined by applying one or a combination of the following transfer pricing methods:a. The comparable uncontrolled…
This article provides useful information about corporation tax registration and deregistration. Read on to simplify your company tax compliance journey. Registration–(Article 51) Tax Groups–(Conditions: Article 40) If a Government Entity have one or more subsidiaries where hold 95% or more…
Government Entities – Exceptions (Article 5) (automatic exemption) Government Controlled Entities that are specified in a Cabinet Decision – Exceptions (Article 6) (automatic exemption) Extractive Business – CONDITIONS (Article 7) a. The Person directly or indirectly holds or has an…
Family Foundations–(Conditions: Article 17) Can make an application to the Authority to be treated as an Unincorporated Partnershipbased on following conditions: Unincorporated Partnerships–(Article 16) Transfer of Tax Loss–(Article 38) Tax loss can be offset against taxable income of another person…
Note: This blog is prepared on the basis of The UAE Corporate Tax Law and its relevant CD and MD is released by MOF. This is only for informative purposes and should not be used or relied upon to make individual…
What is UAE Corporate tax? Corporate tax in UAE is a type of direct tax assessed on the net profit or income generated by corporations and other entities from their business. The UAE has implemented a competitive corporate tax (CT)…
The UAE Ministry of Finance said on Monday that a federal corporate tax on business earnings would be adopted on June 1, 2023, with effect from the first day of the month. The following are the top ten queries that…
Despite the fact that corporation tax rates have been dropping for more than 40 years, many individuals think it is past time for a change. And it’s conceivable that we will be there to see it. In July 2021, 130…
In the United Arab Emirates, the UAE Corporate Tax will be applied over the whole country and will apply equally to all business and commercial activity, with the exception of natural resources, which will continue to be taxed at the…