The new UAE corporate tax regime is an opportunity for heads of tax of affected groups to bring tax to the board room agenda and have meaningful discussions at C suite level. The impact of the tax on the group’s effective tax rate is only the beginning of what needs to be considered. A review of key processes and controls should first be undertaken to ensure you are compliant. Transfer pricing issues for intra group transactions need to be considered from day one and this may help you assess how you structure the group ahead of the tax coming into effect. Other important considerations include the rules on free trade zones and wider impacts such as withholding tax relief monitoring interest deductions based on EBITDA rules and the availability of the participation exemption. We can expect the law to evolve and change at short notice so it...
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The new UAE corporate tax regime is an opportunity for heads of tax of affected groups to bring tax to the board room agenda and have meaningful discussions at C suite level. The impact of the tax on the group’s effective tax rate is only the beginning of what needs to be considered. A review of key processes and controls should first be undertaken to ensure you are compliant. Transfer pricing issues for intra group transactions need to be considered from day one and this may help you assess how you structure the group ahead of the tax coming into effect. Other important considerations include the rules on free trade zones and wider impacts such as withholding tax relief monitoring interest deductions based on EBITDA rules and the availability of the participation exemption. We can expect the law to evolve and change at short notice so it...
If you are not a subscriber, subscribe now to read this content.
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