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
Can you use pre-Grouping Tax Losses along with carry forward Tax Losses in a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Yes, you can use pre-Grouping Tax Losses, but they need to be used first to offset Taxable Income of the Tax Group before any other … Read more
Are there any limits on how much you can use pre-Grouping Tax Losses to reduce Taxable Income in a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, there are limits. You can use pre-Grouping Tax Losses to offset Taxable Income, but only up to the lower of … Read more
What are ‘pre-Grouping Tax Losses’? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Pre-Grouping Tax Losses are losses a company had before joining or forming a Tax Group. These losses can only be used to offset the taxable income of the specific member to which they belong in the Tax … Read more
Do I need to elect for the Business Restructuring Relief if I conduct a business restructuring transaction (e.g. merger) within a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course No, you don’t need to make any special election for Business Restructuring Relief when you restructure within a Tax … Read more
Can you restructure businesses within a Tax Group without tax consequences? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Yes, you can do business mergers and some other restructuring without causing a taxable gain or loss. If there are two companies in a Tax Group, and one of them gives … Read more