Can I use my group’s consolidated financial statements for my UAE business’s tax return? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 No, unless your group only consists of UAE companies forming a tax group, and you make some adjustments. Otherwise, each UAE company subject to Corporate Tax must … Read more
How long should I keep these records? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course You should keep your records and documents for 7 years after the end of the relevant tax period. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: Explore … Read more
What financial records do I need to keep for UAE Corporate Tax purposes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course If you have to pay UAE Corporate Tax, you need to keep financial statements and all documents that support the information in your tax return. If you’re exempt from … Read more
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
Can it apply if someone else issues the shares? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, as long as the issuer directly or indirectly owns at least 50% of the receiving company. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: … Read more
Can Business Restructuring Relief apply if the shares go to someone else? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, as long as the new owner directly or indirectly owns at least 50% of the transferring company. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY … Read more
How should the receiving company account for assets and liabilities received? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course They should use the same book value as the transferring company. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY Master UAE Corporate Tax: Explore our course! Visit … Read more
Can Tax Losses be transferred through Business Restructuring Relief? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, unused tax losses from the transferring company can become available for the receiving company if it continues a similar business. Contact us for UAE Corporate Tax Advise CONTACT US FOR TAX CONSULTANCY … Read more
What happens if the business transferred or the received shares are sold within two years? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Selling within two years can lead to a clawback of the relief initially claimed. The tax liability would be based on the business’s market value at the … Read more
Can natural persons benefit from Business Restructuring Relief? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, if a person wants to turn their personal business into a company, they can use this relief, provided all conditions are met. Contact us for UAE Corporate Tax Advise CONTACT US FOR … Read more