Do the ownership requirements for a Tax Group have to be met throughout the tax period? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, the ownership requirements (having at least 95% ownership) must be met continuously during each tax period. If a member of the Tax Group doesn’t meet … Read more
Do Tax Groups need to prepare consolidated financial statements? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, to figure out the taxable income of the Tax Group, the parent company usually has to combine the financial accounts of all its subsidiaries for the relevant tax period. They need … Read more
Who’s in charge of filing tax returns and paying tax when a Tax Group is formed? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 When a Tax Group is formed, it’s treated like one entity for tax purposes. The parent company is responsible for handling things like filing tax … Read more
Does the 0% Corporate Tax rate apply to the entire Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, the AED 375,000 threshold for the 0% Corporate Tax rate applies to the entire Tax Group, no matter how many companies are in the group. Contact us for … Read more
Can foreign entities be part of a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 No, unless the foreign entity is effectively managed and controlled in the UAE and considered a UAE tax resident. For example, a Tax Group can include a UAE parent company and a … Read more
Can UAE subsidiaries of a foreign parent company form a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, but the UAE subsidiaries must be held by a UAE parent company that forms the Tax Group. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY … Read more
Can a group of UAE companies form a Tax Group for tax purposes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, UAE resident companies can form a Tax Group and be treated as one entity for tax purposes if the UAE parent company owns at least 95% of the … Read more
How will international airlines and shipping companies be taxed? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Income earned by foreign airlines and shipping companies for international transportation by air or sea is exempt from UAE Corporate Tax. This exemption only applies if the foreign country also grants a similar … Read more
Will asset management companies pay UAE Corporate Tax? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Asset management and other financial service companies will pay UAE Corporate Tax. However, certain investment funds can request to be exempt from this tax. Also, UAE-based and regulated fund managers and investment managers can … Read more
Are real estate companies subject to UAE Corporate Tax? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, businesses involved in real estate management, construction, development, agency, and brokerage in the UAE have to pay UAE Corporate Tax. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY … Read more