INTRODUCTION The UAE corporate law brought about a relieving provision for small businesses by virtue of Article 21 – Small Business Relief. The intention was to reduce the compliance burden on small businesses and with easier implementation of corporate tax regime. The provisions of corporate tax are applicable to financial years commencing on or after … Read more
What is revenue for availing Small Business Relief under UAE Corporate Tax Law? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course It is essential to understand the meaning of revenue to claim small business relief under UAE Corporate Tax Law. Revenue v. Profit: In accounting, revenue represents the total income … Read more
UAE Corporate tax on full fledged manufacturer – A Free Zone Person Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Manufacturing vs. Distribution: It’s crucial to distinguish between companies engaged in manufacturing and those in distribution. Manufacturers procure raw materials and transform them into finished products, while distributors purchase products … Read more
Corporate tax on toll manufacturer – A Free Zone Person Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Toll Manufacturer and Corporate Tax: The tax treatment of income earned by a toll manufacturer in the UAE, who may be a free zone person, is a common question. It revolves around … Read more
UAE Corporate tax on contract manufacturer – A Free Zone Person Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Contract Manufacturer Income and UAE Corporate Tax: The tax liability of a contract manufacturer in the UAE depends on whether its income is considered qualifying income for corporate tax purposes. Location … Read more
How much pre grouping Tax Loss can be set off against income of a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course In some cases, a company entering a Tax Group may have pre-grouping tax losses, incurred before becoming a group member, eligible for set-off. Set-Off Calculation Example … Read more
Do Tax Group transactions cover inter–subsidiary transaction under UAE CT Law? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course When calculating the taxable income of a Tax Group, transactions between the Parent and the subsidiaries are eliminated as per UAE Corporate Tax regulations. Transactions Between Subsidiaries of same Tax Group: … Read more
Can a Newly Incorporated Company become a part of a Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Expanding a business often involves forming a Tax Group to optimize corporate tax benefits. Imagine there’s an existing Tax Group with Parent Company, Subsidiary A, and Subsidiary B. If the … Read more
Can a Subsidiary, which becomes Resident of Foreign Country continue to be a part of Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course Change in Tax Residency: If a company, which was initially a legitimate part of a Tax Group in the UAE, subsequently becomes a tax resident … Read more
Which companies can form part of Tax Group? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course To form a tax group in the UAE, both the Parent company and the subsidiary must be tax residents of the UAE. If either the Parent Company or any of the subsidiaries is not … Read more