UAE Corporate Tax

UAE Corporate Tax – Learn about UAE Corporate tax rates, exemptions, and regulations impacting businesses in the United Arab Emirates.

• Chapter One – General provisions
• Chapter Two – Imposition of Corporate Tax and Applicable Rates
• Chapter Three – Exempt Person under UAE Corporate Tax Law
• Chapter Four – Taxable Person and Corporate Tax Base
• Chapter Five – Free Zone Person under UAE Corporate Tax Law
• Chapter Six – Calculating Taxable Income under UAE Corporate Tax Law
• Chapter Seven – Exempt Income
• Chapter Eight – Reliefs
• Chapter Nine – Deductions under UAE Corporate Tax Law
• Chapter Ten – Transactions with Related Parties and Connected Persons
• Chapter Eleven – Tax Loss Provisions under UAE Corporate Tax Law
• Chapter Twelve – Tax Group Provisions
• Chapter Thirteen – Calculation of Corporate Tax Payable
• Chapter Fourteen – Payment and Refund of Corporate Tax
• Chapter Fifteen – Anti-Abuse Rules
• Chapter Sixteen – Tax Registration and Deregistration under UAE Corporate Tax Law
• Chapter Seventeen – Tax Returns and Clarifications 
• Chapter Eighteen – Violations and Penalties.
• Chapter Nineteen – Transitional Rules
• Chapter Twenty – Closing Provisions

Related Content

• Effect of UAE Corporate Tax Law on International Businesses
• Tax Group – UAE CT Update
• Transfer within the same Qualifying Group – UAE CT Update
• Business Restructuring Relief- UAE CT Update
• Incorporating a company in UAE
• Qualifying Income for Qualifying Free Zone Person – UAE CT Update
• Unincorporated Partnerships, Foreign Partnerships, and Family Foundations
• Private Pension and Social Security Fund – UAE CT Update
• Tax Compliances and Administration- UAE CT Law
• Nexus in the UAE – UAE CT Update
• Participation Exemption – UAE CT Update
• Transitional Rules- UAE Corporate Tax Update
• UAE Corporate Tax Law and Updates 2023
• Change in Tax Period: UAE CT Update
• Exemption and Registration – UAE CT Update
• Update- UAE Transfer Pricing Documentation
• UAE Corporate Tax Update: Deregistration Timeline
• UAE Audited Financial Statements: UAE CT Update
• Update: Exemption from Tax Registration under UAE Corporate Tax Law
• UAE Small Business Relief – Article 21 of the UAE Corporate Tax Law
• UAE Corporate Tax Law Procedures
• BEPS and the UAE Corporate Tax Regime
• Cabinet Resolution on Tax Residency in the UAE
• UAE Corporate Tax – Taxation of Non Residents
• Taxation of Unrealised Gains or Losses under UAE Corporate Tax
• Taxation of UAE Companies and other Legal Person
• Taxation of UAE Residents
• Limitation of Deduction of Interest under UAE CT
• Qualifying Public Benefit Entities- UAE CT Update
• Accounting Standards – UAE CT Update
• Tax Residence Certificate (TRC) UAE
• UAE Corporate Tax Dubai – Various Provisions
• UAE Corporate Tax Multiple Choice Questions (MCQs)

UAE Corporate Tax FAQs

1. What is UAE Corporate Tax ?
2. Why is the UAE introducing Corporate Tax?
3. Is the UAE the first country to introduce Corporate Tax?
4. When is the UAE Corporate Tax regime effective ?
5. Who is subject to UAE Corporate Tax?
6. Will UAE entities owned by UAE or GCC nationals be subject to UAE Corporate Tax?
7. Will UAE Corporate Tax be applicable to businesses in all Emirates?
8. Will I have to pay UAE Corporate Tax alongside Emirate level taxes?
9. Will UAE Corporate Tax replace VAT in the UAE?
10. Will I have to pay UAE Corporate Tax alongside VAT in the UAE?
11. Will UAE Corporate Tax replace Excise Tax in the UAE?
12. Will I continue to pay service fees to the Federal and Emirate Governments now that the UAE has introduced Corporate Tax?
13. Will I need to consider the UAE’s international agreements for UAE Corporate Tax purposes?
14. What will be the role of the Federal Tax Authority?
15. What will be the role of the Ministry of Finance?
16. What should I be doing to prepare for UAE Corporate Tax?
17. Where can I find the Corporate Tax Law and related implementing decisions?
18. When will the Cabinet Decisions and Ministerial Decisions mentioned in the Corporate Tax Law be issued, and will there be any additional Corporate Tax guidance provided?
19.  What is a “Business” or “Business Activity”?
20. Who is considered a Resident Person for UAE Corporate Tax purposes?
21. Who is considered a Non-Resident Person for UAE Corporate Tax purposes?
22. How are UAE Resident Persons subject to UAE Corporate Tax?
23. How are Non-Resident Persons subject to UAE Corporate Tax?
24. How do you determine Taxable Income for UAE Corporate Tax?
25. What is a Tax Period?
26. What are the UAE Corporate Tax rates?
27. Does the 0% Corporate Tax rate on Taxable Income that does not exceed the threshold of AED 375,000 apply to each Taxable Person or each business?
28. How is the individual referred to in the Corporate Tax Law?
29. Will natural persons be subject to UAE Corporate Tax?
30. What is considered as a ‘Business or Business Activity’ conducted by a natural person that is subject to tax?
31. Does a natural person’s citizenship or visa status have an impact on their tax status?
32. Will a natural person be subject to UAE Corporate Tax on business income earned outside the UAE?
33. What happens if a natural person has multiple Businesses, or conducts multiple Business Activities?
34. Will a natural person’s employment income be subject to UAE Corporate Tax?
35. Will income earned by a natural person from Bank deposits be subject to UAE Corporate Tax?
36. What is the definition of Personal Investment income?
37. What is the definition of Real Estate Investment income?
38. If a natural person owns several commercial properties in their name, generating rental income above AED 1 million, will such activity still qualify for exclusion for Corporate Tax purposes?
39. Can a natural person elect for the application of the Small Business Relief?
40. What is a juridical person?
41. What does it mean to have a “separate legal personality”?
42. How do you determine whether a juridical person has a “Business” that is within the scope of UAE Corporate Tax?
43. Are foreign juridical persons subject to UAE Corporate Tax in the same way as a UAE Resident Person?
44. When is a foreign juridical person considered “effectively managed and controlled” in the UAE?
45. Will UAE holding companies be subject to UAE Corporate Tax?
46. Will a sole proprietorship or civil company be treated as a juridical person for Corporate Tax purposes?
47. Who is exempt from UAE Corporate Tax?
48. Are charities and other public benefit organisations in the UAE subject to UAE Corporate Tax?
49. Will donations made to charities be deductible?
50. Can a foreign charity or public benefit organisation be a Qualifying Public Benefit Entity for UAE Corporate Tax purposes?
51. Can a charity or a public benefit entity established in a Free Zone be exempt from UAE Corporate Tax?
52. What type of entities can apply to be a Qualifying Public Benefit Entity?
53. What is a private pension fund?
54. What is a private social security fund?
55. Are public pension and social security funds exempt from Corporate Tax?
56. Will all income of a private pension fund or a private social security fund be exempt?
57. Are there any restrictions on contributions or disbursements of a private pension fund or a private social security fund?
58. What are the administrative requirements for an Exempt Person to apply for the exemption?
59. Will a private pension fund or a private social security fund be required to confirm their compliance with the conditions of the exemption after the initial application?
60. How does Ministerial Decision No. 83 of 2023 affect me as an employee?
61. What if an employee of a foreign employer is not able to establish when they can return to their original country of work due to an exceptional situation, would this create a UAE Permanent Establishment for the foreign employer?
62. What if an employee of a foreign employer works in the UAE under a virtual work residence visa, will this create a UAE Permanent Establishment for the foreign employer?
63.  How can an exceptional circumstance be reasonably predicted?
64. Will small businesses be given any UAE Corporate Tax relief?
65. What is “Small Business Relief”?
66. Who can claim Small Business Relief for UAE Corporate Tax purposes?
67. What is Revenue?
68. If a business has earned Taxable Income of AED 1 million, what will be the UAE Corporate Tax amount payable?
69. How can I elect for Small Business Relief?
70. My Revenue for the current Tax Period is less than AED 3 million, but was more than AED 3 million in my last Tax Period – am I eligible for Small Business Relief?
71. My Revenue is currently less than AED 3 million in the current Tax Period. However, I anticipate my total Revenue will exceed AED 3 million by the end of this Tax Period. What do I need to do?
72. I carry on two businesses through one company. Does each business benefit from Small Business Relief?
73. Are Non-Residents eligible for Small Business Relief?
74. What are Multinational Enterprise Groups?
75. What happens to Tax Losses that I have accrued in previous Tax Periods if I elect for Small Business Relief?
76. What happens to excess Interest expenditure that I have accrued in previous Tax Periods if I elect for Small Business Relief?
77. Can I still elect for Small Business Relief in the current Tax Period even if I did not elect for the relief in the prior periods?
78. In addition to being treated as having no Taxable Income for the Tax Period, what other Corporate Tax relief (e.g. documentation) can I benefit from when I elect for Small Business Relief?
79. What is the Free Zone Corporate Tax regime?
80. Why has the UAE introduced a Free Zone Corporate Tax regime?
81. Who is a Free Zone Person?
82. Who is a Qualifying Free Zone Person?
83. How are Qualifying Free Zone Persons taxed under the UAE Corporate Tax regime?
84. When do the benefits of the Free Zone Corporate Tax regime expire?
85. Where can I find the list of Free Zones that are part of the Free Zone Corporate Tax regime?
86. Is there a difference between a Designated Zone and a Free Zone?
87. Will the same conditions apply to all Free Zones and Qualifying Free Zone Persons?
88. Can natural persons, unincorporated partnerships and sole establishments benefit from the Free Zone Corporate Tax regime?
89. Can a foreign company benefit from the Free Zone Corporate Tax regime?
90. Does an entity need to be established in a Free Zone before its first Tax Period to benefit from the Free Zone Corporate Tax regime?
91. Are there any limitations or restrictions on who can establish or own a Free Zone Person?
92. Does the Free Zone Corporate Tax regime apply to foreign or mainland UAE entities that transfer their place of incorporation to a Free Zone?
93. Will the Free Zone Corporate Tax regime be available if the Qualifying Free Zone Person conducts activities outside of the Free Zone?
94. Will the Free Zone Corporate Tax regime be available to a Qualifying Free Zone Person that operates outside of the Free Zone through a branch or permanent establishment in the UAE mainland or in a foreign country?
95. What conditions must be satisfied to benefit from the Free Zone Corporate Tax regime?
96. Are there any minimum investment or employment requirements in order to benefit from the Free Zone Corporate Tax regime?
97. What is Qualifying Income?
98. Does the Free Zone Corporate Tax regime apply automatically?
99. Will a Qualifying Free Zone Person need to maintain documents to evidence compliance with the conditions of the Free Zone Corporate Tax regime?
100. What happens if a Qualifying Free Zone Person fails one or more of the conditions?
101. What happens if a Qualifying Free Zone Person earns income that is not Qualifying Income?
102. What are the de minimis requirements?
103. 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?
104. What is ‘adequate substance’?
105. How will adequate substance be assessed?
106. Where in the UAE does the adequate substance need to be maintained?
107. Will a Qualifying Free Zone Person need to file a Notification and Economic Substance Report?
108. Are Qualifying Free Zone Persons required to comply with transfer pricing rules?
109. What transfer pricing documentation must a Qualifying Free Zone Person prepare and maintain?
110. Are Qualifying Free Zone Persons required to maintain audited financial statements?
111. Is all income derived from transactions with other Free Zone Persons considered Qualifying Income?
112. When is another Free Zone Person considered the beneficial recipient of a transaction with a Qualifying Free Zone Person?
113. What are Excluded Activities?
114. What is the Corporate Tax treatment of income derived from Excluded Activities?
115. What are Qualifying Activities?
116. Where can I find the list of Qualifying Activities and Excluded Activities?
117. Are transactions with UAE domestic persons treated differently to transactions with foreign persons?
118. What is the relevance of being located in a Designated Zone for a distribution business?
119. Will there be more guidance on the scope and meaning of each of the Qualifying Activities?
120. What is the treatment of royalties and other income from intellectual property assets?
121. What is the treatment of income earned from commercial property located in a Free Zone?
122. What is the treatment of income earned from Immovable Property located outside of the Free Zone?
123. Can a Qualifying Free Zone Person benefit from the AED 375,000 zero tax band in respect of its income that is subject to Corporate Tax at 9%?
124. How is a domestic or foreign permanent establishment determined?
125. How do you determine the income of a domestic or foreign Permanent Establishment that is subject to Corporate Tax at 9%?
126. How will double taxation of income derived through a foreign Permanent Establishment be mitigated?
127. How will income from mixed-use properties located in a Free Zone be treated under the Free Zone Corporate Tax regime?
128. Can a Qualifying Free Zone Person be a member of a Tax Group or benefit from other reliefs available under the Corporate Tax Law?
129. Will a Free Zone Person be required to register and file a UAE Corporate Tax return?
130. Will a domestic or foreign permanent establishment of a Qualifying Free Zone Person be required to register and file a separate UAE Corporate Tax return?
131. Will a Free Zone branch of a mainland or foreign juridical person need to register and file a separate UAE Corporate Tax return?
132. Are payments to Qualifying Free Zone Persons subject to withholding tax?
133. Will payments to a Qualifying Free Zone Person be deductible for Corporate Tax purposes?
134. Will Free Zone entities be subject to the global minimum tax (OECD, BEPS Pillar 2) rules?
135. Are Free Zone Persons treated as Resident or Non-Resident Persons for UAE Corporate Tax purposes?
136. Are Free Zone Persons eligible to access double tax treaties?
137. How will the UAE Corporate Tax regime apply to partnerships?
138. What is an Unincorporated Partnership?
139. Is it required to have a written contract for there to be an Unincorporated Partnership?
140. Are Unincorporated Partnerships subject to Corporate Tax?
141. How is the Taxable Income of a partner in an Unincorporated Partnership calculated?
142. Is there a minimum or maximum number of partners in an Unincorporated Partnership?
143. Can an Unincorporated Partnership apply to be treated as a Taxable Person?
144. Will each partner in an Unincorporated Partnership be required to register and file a UAE Corporate Tax Return?
145. How will Foreign Partnerships be treated under the Corporate Tax Law?
146. Can a Foreign Partnership be an Unincorporated Partnership?
147. . What is a “Family Foundation”?
148. Are Family Foundations subject to UAE Corporate Tax?
149. Can a Family Foundation apply to be treated as an Unincorporated Partnership?
150. How can the Family Foundation be treated as an Unincorporated Partnership?
151. Once the Family Foundation is treated as an Unincorporated Partnership, will the beneficiaries of the Family Foundation be automatically considered as partners in the Unincorporated Partnership?
152. What is the tax treatment of the beneficiaries of a Family Foundation that are natural persons?
153. What is the tax treatment of the beneficiaries of a Family Foundation that are public benefit entities but are not listed as Qualifying Public Benefit Entities in Cabinet Decision No. 37 of 2023?
154. Once the Family Foundation is treated as an Unincorporated Partnership, will the income distributed by the Family Foundation to beneficiaries that are outside the UAE be subject to UAE Corporate Tax?
155. What is a Qualifying Investment Fund?
156. Will investment funds be subject to UAE Corporate Tax?
157. What is a Recognised Stock Exchange?
158. Will a UAE based investment fund manager be subject to UAE Corporate Tax?
159. For the purpose of benefiting from the Corporate Tax exemption, are both the investment fund and the fund manager required to be subject to regulatory oversight?
160. Could a UAE-based Investment Manager create a UAE taxable presence for its foreign customers?
161. Could the activities of a UAE-based Investment Manager result in a foreign investment fund / vehicle to be considered resident in the UAE for UAE Corporate Tax purposes?
162. Can investment holding companies and special purpose vehicles used by an investment fund benefit from an exemption from UAE Corporate Tax?
163. Do the ownership conditions apply to all investment funds to be eligible for the Corporate Tax exemption?
164. What would be considered as sufficient evidence to demonstrate the intention of the investors to meet the ownership conditions?
165. Can an institutional investor be a natural person?
166. Can natural persons invest in a REIT that is a Qualified Investment Fund?
167. Can an Unincorporated Partnership benefit from the Qualified Investment Fund conditions?
168. Are UAE branches separate juridical persons?
169. Will the income of UAE branches of a UAE business be subject to UAE Corporate Tax?
170. Are UAE branches of a UAE juridical person required to separately register or file for UAE Corporate Tax?
171. Will the income of foreign branches of a UAE business be subject to UAE Corporate Tax?
172. Will UAE branches of foreign businesses be subject to UAE Corporate Tax?
173. Will a UAE branch constitute a taxable Permanent Establishment for the foreign business?
174. What are preparatory or auxiliary activities?
175. Will foreign companies and other juridical persons be subject to UAE Corporate Tax?
176. When will a foreign company be considered a Resident Person?
177. Can a foreign natural person be subject to UAE Corporate Tax as a Resident Person?
178. When will a foreign natural person be subject to UAE Corporate Tax as a Non-Resident Person?
179. How do I know if I have a Permanent Establishment in the UAE?
180. Will the investment in UAE real estate be subject to UAE Corporate Tax?
181. What determines whether income is sourced from the UAE?
182. Will UAE investment income earned by a foreign investor be subject to UAE Corporate Tax?
183. Which accounting standards shall a Taxable Person apply?
184. What is Cash Basis of Accounting?
185. When can a Person prepare their Financial Statements using the Cash Basis of Accounting?
186. Once a Person elects to prepare their Financial Statements using the Cash Basis of Accounting, are there any specific standards to follow in terms of maintaining documents or records?
187. Why are the consolidated Financial Statements of a Tax Group prepared as the aggregation of the standalone Financial Statements of the Parent Company and each Subsidiary that is a member of the Group?
188. What is Taxable Income?
189. What standards must be used to prepare Financial Statements?
190. Will Financial Statements need to be prepared on an accrual basis?
191. Will Financial Statements need to be prepared on an accrual basis?
192. What is the realisation principle, and when is income realised for UAE Corporate Tax purposes?
193. Which Taxable Persons are allowed to elect to use the realisation basis method?
194. Can Taxable Persons change their election to use the realisation basis method with regards to recognising gains and losses?
195. What accounting methods can Taxable Persons choose for recognising gains and losses when they have constantly fluctuating asset values?
196. What is the UAE Corporate Tax treatment for any unrealised gains and losses arising from accounting fair value or impairment adjustments?
197. How are capital gains taxed?
198. What income is exempt from UAE Corporate Tax?
199. Are all dividends and other profit distributions earned from UAE juridical persons exempt from UAE Corporate Tax?
200. Are all dividends and other profit distributions from foreign juridical persons exempt from UAE Corporate Tax?
201. Are capital gains exempt from UAE Corporate Tax?
202. What is the Participation Exemption regime?
203. Can I benefit from a UAE Corporate Tax exemption if I own less than a 5% shareholding in a company?
204. Will dividends received from a UAE resident company fall under the scope of the Participation Exemption?
205. How does the “subject to tax” test work for a foreign company for the purposes of the Participation Exemption regime?
206. How will the minimum required ownership interest be determined?
207. What is an ‘ownership interest’ for the purposes of the Participation Exemption regime?
208. Can a branch claim the Participation Exemption?
209. Will option rights fall within the scope of the Participation Exemption?
210. May I also benefit from the Participation Exemption if I own Islamic financial instruments?
211. Will I be able to exchange my ownership interest as part of a business reorganisation for another ownership interest and still meet the conditions of the Participation Exemption?
212. When will a holding company meet the requirement of a “principal objective and activity of the Participation is the acquisition and holding of shares or equitable interests”.
213. When will a holding company’s income “substantially” consist of income from Participating Interests?
214. How will AED 4 million monetary minimum acquisition cost threshold for which a Participation will be the minimum ownership requirement be met, determined?
215. What are the types of assets or liabilities that a Taxable Person may elect to adjust under the Transitional Rules?
216. What is a Qualifying Immovable Property?
217. What are the types of assets or liabilities that a Taxable Person may elect to adjust under the Transitional Rules?
218. What are Qualifying Financial Assets and Qualifying Financial Liabilities?
219. When should the election for the adjustments be made?
220. Should the election apply to all or part of the Qualifying assets and liabilities?
221. How will the adjustment apply?
222. . 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?
223. 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?
224. What expenditure will be deductible for the purposes of calculating Taxable Income?
225. What expenditure will be non-deductible for the purposes of calculating Taxable Income?
226. Will my Interest expenditure be fully deductible?
227. Will dividends paid by UAE companies be deductible for Corporate Tax purposes?
228. Will the payment of a royalty to a foreign company in the worldwide group be deductible?
229. Will Value Added Tax paid be deductible for UAE Corporate Tax?
230. Will remuneration paid to management be a deductible expense for Corporate Tax purposes?
231. Will a Corporate Tax deduction be available for revaluation losses and provisions?
232. What is the tax treatment of employee entertainment?
233. Are doubtful debts allowed as deductible expenditure?
234. Will my interest expenditure be fully deductible?
235. Is there a de minimis threshold for the General Interest Deduction Limitation Rule?
236. What is the treatment of disallowed Interest expenditure?
237. How are Islamic Financial Instruments treated under the General Interest Deduction Limitation Rules?
238. Will there be any exemptions from the General Interest Deduction Limitation Rules?
239. Will the interest General Interest Deduction Limitation Rule apply to Tax Groups?
240. Will I be able to deduct interest incurred in relation to loans from Related Parties?
241. If a Taxable Person’s Net Interest Expenditure is greater than AED 12 million and their adjusted EBITDA is negative for a Tax Period, how much of their Net Interest Expenditure may they deduct?
242. What are transfer pricing rules?
243. Will transfer pricing rules apply to both domestic and cross border transactions?
244. Who are Related Parties?
245. Who are Connected Persons?
246. What transfer pricing methods can be used to determine the arm’s length price?
247. What documentation should be maintained in respect of transfer pricing?
248. Do Taxable Persons need to consider whether intra-group loan arrangements are at arm’s length?
249. Would transactions in a Tax Group need to comply with transfer pricing rules?
250. Who is included within the fourth degree of kinship?
251. What is a master file?
252. What is a local file?
253. What are the objectives of preparing a master file and local file?
254. Who should maintain a master file and a local file?
255. Are there any exemptions from transfer documentation requirements?
256. Will a Taxable Person be required to submit their master file and local file to the Federal Tax Authority along with their Tax Return?
257. Are there any excluded transactions from the local file?
258. What does “acting as if they were independent of each other” mean?
259. Will all businesses need to comply with the transfer pricing regulations, or will there be a threshold for small businesses?
260. Are Taxable Persons required to apply the arm’s length principle where their Revenue for a Tax Period is below AED 200 million?
261. Is the arm’s length principle required to be applied from a Taxable Person’s first Tax Period?
262. What are “Tax Losses”?
263. Will the UAE Corporate Tax regime allow prior year Tax Losses to reduce Taxable Income?
264. Will a change in ownership of the Taxable Person restrict the ability to use its Tax Losses?
265. Can businesses claim loss relief for losses incurred before the commencement of Corporate Tax?
266. Will a group be able to utilise the Tax Losses of one group company against the Taxable Income of another group company?
267. What are the conditions for the transfer of Tax Losses within a group?
268. What is Withholding Tax?
269. Does the UAE Corporate Tax regime have Withholding Tax?
270. Is a credit available for foreign tax paid on income that is also subject to UAE Corporate Tax?
271. What foreign taxes can be credited against UAE Corporate Tax?
272. Will the oil and gas sector and other extractive industries be subject to UAE Corporate Tax?
273. Will the banking sector be subject to UAE Corporate Tax?
274. Will the real estate sector be subject to UAE Corporate Tax?
275. Will the asset management sector be subject to UAE Corporate Tax?
276. How will international airlines and shipping companies be taxed?
277. Will a group of UAE companies be able to form a Tax Group for UAE Corporate Tax purposes?
278. Can UAE subsidiaries of a foreign parent company form a Tax Group for UAE Corporate Tax purposes?
279. Can foreign entities be included in a Tax Group?
280. Will the 0% Corporate Tax rate threshold apply to the Tax Group as a whole?
281. Who will be responsible for the filing of the UAE Corporate Tax return and for payment of the UAE Corporate Tax due once a Tax Group is formed?
282. Will the Tax Group need to prepare consolidated Financial Statements?
283. Should the ownership requirements for a Tax Group be continuously met throughout a Tax Period?
284. Can entities that are tax resident in multiple jurisdictions join or form a Tax Group?
285. Can the application to form a Tax Group or to join an existing Tax Group be made after the end of the Tax Period for which the formation or joining is requested?
286. Will a newly formed UAE entity be able to join an existing Tax Group from the date of its incorporation?
287. Will the Tax Group be required to inform the Federal Tax Authority if a member leaves the Tax Group or if the Tax Group ceases to exist?
288. Is the preparation of Financial Statements impacted when a member leaves the Tax Group or if the Tax Group ceases to exist?
289. Will I still be able to undertake restructuring transactions between members of a Tax Group?
290. Do I need to elect for the Business Restructuring Relief if I conduct a business restructuring transaction (e.g. merger) within a Tax Group?
291. What are ‘pre-Grouping Tax Losses’?
292. Do any limits apply to the amount of pre-Grouping Tax Losses that may be used to offset the Taxable Income of a Tax Group?
293. Can I also use pre-Grouping Tax Losses to offset income if my Tax Group has carry forward Tax Losses?
294. Should transfer pricing documentation be maintained by individual members of a Tax Group regarding transactions within the Tax Group?
295. What happens to the Tax Return of a company if it joins a Tax Group on a day other than the first day of a Tax Period?
296. What happens when a Tax Group ceases to exist?
297. Can a Tax Group be formed between a UAE incorporated company and its 100% owned subsidiary company that is incorporated in another country but is effectively managed and controlled in the UAE.
298. Is there any relief available for transfer of assets and liabilities between group companies?
299. What is a Qualifying Group?
300. What happens if the asset or liability transferred under Transfers within a Qualifying Group relief is subsequently sold to a third party or the Persons involved in the transfer are no longer part of the same Qualifying Group?
301. Where relief for Transfers within a Qualifying Group has been claimed, how should the Person that receives the asset or liability account for this for Corporate Tax purposes?
302. Will the Transfers within a Qualifying Group relief be available where an asset is transferred within a Qualifying Group in exchange for another asset?
303. If a Person that transferred an asset or liability initially (the Transferor) within a Qualifying Group wishes to benefit from the Transfer of Qualifying Group relief, will the Transferor need to obtain consent from the Person that acquired the asset or liability (the Transferee)?
304. What is an ‘ownership interest’ for the purposes of the relief for Transfers within a Qualifying Group?
305. What is the difference between a ‘Qualifying Group’ and a ‘Tax Group’?
306. Is there any Corporate Tax relief to facilitate mergers, spin-offs and other restructuring transactions?
307. What is Business Restructuring Relief?
308. Can Business Restructuring Relief apply where a company acquires a Business in exchange for shares and other forms of consideration such as cash?
309. Can natural persons benefit from Business Restructuring Relief?
310. What happens if the Business transferred under Business Restructuring Relief is subsequently sold to a third party or if the shares exchanged are sold or transferred?
311. Can Tax Losses be transferred through Business Restructuring Relief?
312. Where Business Restructuring Relief has been applied, how should the Person that receives the Business account for this for Corporate Tax purposes?
313. Can Business Restructuring Relief be available where the ownership interests are received by someone other than the Person that transferred the Business (the Transferor)?
314. Can Business Restructuring Relief be available where the shares are issued by someone other than the Person that received the Business (the Transferee)?
315. If a Person that transferred the Business (the Transferor) wishes to benefit from Business Restructuring Relief, will the Transferor need to obtain consent from the Person that received the Business (the Transferee)?
316. What records should I keep for UAE Corporate Tax purposes?
317. How long must I keep my records for UAE Corporate Tax purposes?
318. Can I use the consolidated financial statements of the group to prepare the UAE Corporate Tax Return for my UAE business?
319. Who is required to prepare and maintain audited financial statements?
320. What is meant by ‘audited financial statements’?
321. Is there an obligation to prepare ‘certified Financial Statements’?
322. Is it possible to prepare “certified” Financial Statements, as an alternative to audited Financial Statements?
323. . Does the obligation to prepare audited Financial Statements for Corporate Tax purposes cancel the obligation to undertake existing audit requirements stipulated in other existing legislation?
324. Will the consolidated Financial Statements of a Tax Group need to be audited for Corporate Tax purposes?
325. Will I need to submit my Financial Statements to the Federal Tax Authority?
326. What currency do I use for UAE Corporate Tax purposes?
327. What exchange rate do I use for UAE Corporate Tax purposes?
328. Who will be required to register for UAE Corporate Tax?
329. When do I register for UAE Corporate Tax?
330. Is there a registration threshold for UAE Corporate Tax?
331. How do I register for UAE Corporate Tax?
332. I am already registered for VAT purposes. Do I have to register for UAE Corporate Tax?
333. Will businesses be required to register for Corporate Tax if they are exempt from Corporate Tax or have no tax liability?
334. Where a natural person conducts multiple Businesses that are subject to Corporate Tax, do each of these Businesses need to register / file Corporate Tax Returns separately?
335. Will a UAE company with several UAE branches be required to register each branch separately for UAE Corporate Tax?
336. Will individual partners in an Unincorporated Partnership be required to register for Corporate Tax separately?
337. If a resident juridical person’s Revenue is below AED 3 million for a Tax Period will it need to register for Corporate Tax?
338. Under what circumstances can a business deregister for Corporate Tax?
339. What is a self-assessment regime?
340. How often will UAE businesses need to file a UAE Corporate Tax Return?
341. Will a business be able to change their Tax Period?
342. I no longer conduct a Business, do I have to file a UAE Corporate Tax Return?
343. I did not make a profit for the Tax Period, do I have to file a UAE Corporate Tax Return?
344. Can I file one UAE Corporate Tax Return for all the companies I own?
345. Will the Corporate Tax Return need to be filed electronically?
346. When do I need to pay my UAE Corporate Tax liability?
347. How do I pay my UAE Corporate Tax liability?
348. Will there be a requirement to pay UAE Corporate Tax in advance?
349. Are there any consequences for non-compliance under the UAE Corporate Tax regime?
350. AD. Pillar Two rules
351. What is meant by “large” multinationals?