UAECIT

UAE Corporate Income Tax

This 5-day course provides a comprehensive overview of the UAE's New Corporate Income Tax system, covering a range of topics from tax rates and exemptions to tax registration and international agreements.

Day 1 focuses on the introduction of the new tax law, including the tax rate, effective date, and taxable persons, such as resident and non-resident persons. The day also explores the corporate tax base, including global and state-sourced income, and exemptions for various entities, such as government-controlled entities and qualifying investment funds.

Day 2 covers free zone businesses, calculating taxable income, and tax reliefs. The session delves into qualifying free zone persons, exempt income, small business relief, and deductible and non-deductible expenses.

Day 3 centers on transactions with related parties, the arm's length principle, and tax losses. It examines tax loss relief, the transfer of tax losses, and limitations on tax loss carried forward.

Day 4 discusses tax groups, their formation, and cessation, as well as taxable income within a tax group. The day also covers the calculation of corporate tax payable, withholding tax, foreign tax credit, and general anti-abuse rules.

Finally, Day 5 tackles tax registration and deregistration, tax returns and clarifications, record keeping, penalties, and international agreements such as Pillar 1 and Pillar 2. The course also provides an overview of the transitional rules.

By the end of this course, participants will have a solid understanding of the UAE's New Corporate Income Tax system, enabling them to navigate its complexities and ensure compliance with the new regulations.