How is the period of ownership calculated where the relevant assets or liabilities were held by different members of the same Tax Group or Qualifying Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course The duration during which the pertinent assets or liabilities were under the ownership of members within … Read more

If a Taxable Person is carrying a provision (e.g. a provision for doubtful debts) in their accounts prior to the effective Corporate Tax date, what will be the tax treatment if the provision is released after the effective Corporate Tax date? Will the credit to the P&L be subject to Corporate Tax? Contact us for … Read more

How will the adjustment apply? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course With respect to Qualifying Immovable Properties, the Taxable Person may make one of the following adjustments: The Taxable Person has the discretion to eliminate the prospective gain that would have materialized at the inception of the initial … Read more

Is it requisite for the election to encompass the entirety of the Qualifying Assets and Liabilities, or can it pertain to a subset thereof? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course For the aforesaid, the rules are as follows: Qualifying Immovable Property: the election may apply to any of … Read more

At what juncture is it appropriate to initiate the election for the aforementioned adjustments? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course The election must be made during the submission of the first Tax Return, and will be considered irrevocable except under exceptional circumstances and pursuant to approval by the … Read more

What do the terms “Qualifying Financial Assets” and “Qualifying Financial Liabilities” signify in an academic context? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course They are financial assets or financial liabilities as defined International Financial Reporting Standards (IFRS), that meet all of the following conditions: They are owned prior to … Read more

Which classifications of assets or liabilities can a Taxable Individual choose to make adjustments to in accordance with the Transitional Regulations? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course It is an intangible asset as defined in the International Financial Reporting Standards (IFRS), that meets all of the following conditions: … Read more

What constitutes a Qualifying Immovable Property in a scholarly context? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Qualifying Immovable Property. Qualifying Intangible Assets. Qualifying Financial Assets Qualifying Financial Liabilities. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: Explore our course! Visit … Read more

What categories of Assets or Liabilities are eligible for adjustment by a Taxable Person in accordance with the Transitional Rules? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Qualifying Immovable Property. Qualifying Intangible Assets. Qualifying Financial Assets Qualifying Financial Liabilities Contact us for UAE Corporate Tax Advise CONTACT US FOR … Read more

How will it be evaluated that the minimum purchase cost level of AED 4 million has been attained, making Participation the minimum ownership requirement? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course The monetary minimum acquisition cost threshold, amounting to AED 4 million, shall be ascertained by taking into account … Read more