Will dividends paid by UAE companies be deductible for Corporate Tax purposes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Dividends paid by UAE companies will not be deductible for Corporate Tax purposes. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: … Read more
Will my Interest expenditure be fully deductible? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 The UAE Corporate Tax Law includes provisions aimed at regulating the deductibility of interest expenditure, primarily to discourage excessive reliance on debt financing and ensure that debt obtained through certain intra-group transactions is only … Read more
What expenditure will be non-deductible for the purposes of calculating Taxable Income? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Article 33 of the UAE Corporate Tax Law enumerates particular expenses for which deductions will not be permitted, including items such as bribes, fines, and penalties. Moreover, deductions are not … Read more
What expenditure will be deductible for the purposes of calculating Taxable Income? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course In the typical scenario, business expenditures that are incurred to generate Taxable Income are eligible for deductions, with certain exceptions and constraints as outlined in the Corporate Tax Law. The … Read more
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