Is all income derived from transactions with other Free Zone Persons considered Qualifying Income? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, money earned from doing business with other companies in the Free Zone is Qualifying Income, unless it’s from activities that are not allowed. Contact us for … Read more
Are Qualifying Free Zone Persons required to maintain audited financial statements? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, these companies must have their financial records checked by an independent auditor Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: Explore … Read more
What transfer pricing documentation must a Qualifying Free Zone Person prepare and maintain? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course They need to keep documents to show that their business transactions are fair and reasonable. This includes documents to prove their prices are fair when they buy or sell … Read more
Are Qualifying Free Zone Persons required to comply with transfer pricing rules? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, these companies must make sure they do business fairly with other companies, whether they are in the UAE or abroad. Contact us for UAE Corporate Tax Advise CONTACT US … Read more
Where in the UAE does the adequate substance need to be maintained? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 A company can keep its operations and presence in the Free Zone where it’s registered, or in any other Free Zone. Contact us for UAE Corporate Tax Advise CONTACT … Read more
How will adequate substance be assessed? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 It depends on the company and what it does. They will look at how many people they have, the things they own, and how much money they spend on their operations in the Free Zone. … Read more
What is ‘adequate substance’/ Economic Substance Regulations (ESR)for Free Zone Person in the UAE? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 A company in the Free Zone needs to have enough presence and activity in the Free Zone that matches what it’s doing to make money. Contact us … Read more
Who will determine if a Qualifying Free Zone Person has continued to meet all the conditions to benefit from the Free Zone Corporate Tax regime? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 The company itself needs to make sure it follows the rules. But the government can also … Read more
What are the de minimis requirements? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 These rules say that a company can still get the tax benefits if only a small part of its income doesn’t meet the rules. This small part should be less than 5% of its total … Read more
What happens if a Qualifying Free Zone Person earns income that is not Qualifying Income? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 If a company earns money that doesn’t meet the rules, it can’t get the tax benefits, unless it’s a small or minor amount of money. Contact … Read more