Does the transferring company need permission from the receiving company to use this relief? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, both companies must agree to use this relief and keep records of their agreement. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master … Read more
Will the Transfers within a Qualifying Group relief be available where an asset is transferred within a Qualifying Group in exchange for another asset? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, the relief will be available where an asset is exchanged for another asset within a Qualifying … Read more
How should the receiving company account for the assets or liabilities received? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 They should treat them at the same value the transferring company had on its books. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE … Read more
What if assets or liabilities transferred within a Qualifying Group are later sold or the companies are no longer in the same group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 If this happens within two years of the original transfer, it could lead to a clawback of the … Read more
What’s a Qualifying Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 It’s a group of companies that meet these conditions: They are either UAE resident companies or non-resident companies with a presence in the UAE. One company has 75% or more ownership of the other, or a third … Read more
Can companies in a group transfer assets and liabilities without incurring taxes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, companies in a ‘Qualifying Group’ can transfer assets and liabilities to each other without paying taxes. This is optional, and they need to choose this option in their … Read more
Can a Tax Group be formed between a UAE-incorporated company and its 100% owned foreign subsidiary managed in the UAE? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, a Tax Group can be formed under certain conditions, but the foreign subsidiary should not be considered a tax resident … Read more
What occurs when a Tax Group dissolves? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course When a Tax Group ends, each company that was part of the group will now be taxed as separate entities. Any pre-Grouping Tax Losses stay with the individual companies. If the Tax Group had generated … Read more
What happens if a company joins a Tax Group in the middle of a tax period? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Usually, a company can’t join a Tax Group in the middle of a tax period. They should join at the start of a tax period to … Read more
Do individual members of a Tax Group need to maintain transfer pricing documentation for transactions within the group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Generally, no. Members of a Tax Group don’t need to keep separate transfer pricing documentation for transactions within the group, unless there are … Read more