Can Tax Losses from previous years reduce future taxes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, but there are rules. A business can use some of its past Tax Losses to lower its taxes in future years, but only up to 75% of its income in those future … Read more
What are “Tax Losses”? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Tax Losses happen when a business’s expenses are more than the money it made, resulting in a negative income for tax purposes. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: … Read more
Do companies have to use the fair pricing rule from their first year of paying taxes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, they do. The fair pricing rule applies to all deals between a company and the other companies it’s connected to, and it affects how much … Read more
Do companies with less than AED 200 million in revenue have to use the fair pricing rule? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, they do. The fair pricing rule applies to all deals between a company and the other companies it’s connected to, no matter how much … Read more
Will all businesses need to comply with the transfer pricing regulations, or will there be a threshold for small businesses? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Every company must follow the rules about transfer pricing in the Corporate Tax Law. But, there are exceptions: Small businesses that choose … Read more
What does “acting as if they were independent of each other” mean? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Two companies are considered “acting independently” when: They’re doing a deal that’s a normal part of their regular business. They don’t mainly do business just with each other; they deal … Read more
Are there any excluded transactions from the local file? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course A company must include all its deals with other companies it’s connected to in the local file, except for these situations: If they’re dealing with a regular person, and both parties act as … Read more
UAE Corporate tax on contract manufacturer – A Free Zone Person Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Contract Manufacturer Income and UAE Corporate Tax: The tax liability of a contract manufacturer in the UAE depends on whether its income is considered qualifying income for corporate tax purposes. Location … Read more
Will a Taxable Person be required to submit their master file and local file to the Federal Tax Authority along with their Tax Return? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course A company only needs to give its master file and local file to the government tax agency when … Read more
Are there any exemptions from transfer documentation requirements? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course People or businesses that don’t have to worry about transfer pricing documents are: Exempt Persons: They don’t need these documents as long as they keep their exempt status. Small Businesses getting relief: If your … Read more