What if assets or liabilities transferred within a Qualifying Group are later sold or the companies are no longer in the same group?
If this happens within two years of the original transfer, it could lead to a clawback of the tax relief initially claimed. The tax liability would be calculated based on the asset’s market value at the time of the original transfer.
CONTACT US FOR TAX CONSULTANCY
Master UAE Corporate Tax: Explore our course!
Related Content for UAE Corporate Tax
Are Free Zone companies in UAE liable to Corporate Tax ?
Free Zone has distinct taxation system based on Qualifying Income and Excluded Income. It is therefore essential to know the kind of income taxable under UAE Corporate Tax Law for Free Zone companies.
Can you Split up your Business to claim Small Business Relief in the UAE?
If your business exceeds the Revenue Threshold limit for Small Business Relief, can you split up your business to claim Small Business Relief as per UAE Corporate Tax Law or will it constitute a Tax Crime punishable under the UAE Tax Procedures Law?
Who is a Taxable Person under UAE Corporate Tax Laws?
Are you a Taxable Person liable for Corporate Tax under the UAE Corporate Tax Law? Can an Exempt Person be considered as a Taxable Person?
