Guide to UAE Corporate Tax

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Description
It is with pride and pleasure that we present to you the third edition of our book, Guide to UAE Corporate Tax.
In today's fast-paced environment, knowledge workers must be continuous learners, staying up-to-date with the latest information and practices. Accountants and tax consultants working with corporate enterprises in the United Arab Emirates (UAE) now face this challenge, especially with the introduction of new corporate tax legislation. The Federal Decree Law No. 47 of 2022, enacted on December 9, 2022, outlines key provisions such as the imposition of corporate tax, applicable rates, definitions of exempt and taxable persons, the corporate tax base, regulations for free zone persons, calculations of taxable income and exempt income, reliefs, deductions, computation of corporate tax payable, procedures for payment and refund of corporate tax, tax returns, and the associated violations and penalties.
In addition to the primary legislation, numerous Cabinet decisions, Ministerial decisions, and FTA decisions have been issued up to July 2024. This book includes all of these updates, presented in a simplified and clear manner to enhance understanding. This first-of-its-kind attempt aims to demystify the UAE Corporate Tax Law with straightforward language, facilitating a quicker and easier grasp for readers. We believe this book will significantly aid the learning process required for the implementation of the new law and serve as a timely resource for the accounting community.
We dedicate this book to the people of the UAE, striving for a better understanding of the UAE Corporate Tax Law. We welcome and appreciate any suggestions and constructive criticism from our readers.
We acknowledge the efforts put in by Ms. Sunita Kackar and the entire team of M/s Commercial Law Publication India Pvt Limited in bringing out the book in precise time and with excellent quality.
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Table of Contents
1. Introduction of UAE Corporate Tax Law     
2. Taxability of Natural Person)     
3. Chargeability, Corporate Tax Rate and Taxable Person     
4. Persons Exempted from Corporate Tax
5. Taxation of Partnership & Family Foundation     
6. Computation of Taxable Income     
7. Deductions, Reliefs and Losses
8. Transfer Pricing Regulations     
9. Payment of Corporate Tax, Tax Credit and Refund     
10. Tax Assessment and Pena     
11. General Anti-Abuse Rule (GAAR     
12. Transitional Rules & Business Restructuring     
13. Free Zone Person
14. International Agreement (DTAA) and Tax Treaties     
Schedule I List of FREE ZONES in UAE    
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Author Details
CA Avinash Gupta is the fellow member of the Institute of Chartered Accountants of India. He did his graduation from Shri Ram College of Commerce. Delhi University and awarded the best student of the college. He is also in the merit list of ICAI in CA Final. He is also Law Graduate and completed his LLM in International Taxation from Vienna University, Austria, Europe. He has authored 3 books on International Taxation, Transfer Pricing and UAE Corporate Tax. He is also perusing PhD. In Law on the subject of Taxation of Digital Transactions. He is also regular faculty on UAE Corporate Tax and Transfer pricing at ICAI and various chapters.
He was the Chairman of Northern India Regional Council of The Institute of Chartered Accountants of India for the year 2021-22. He is also Secretary of SRCC Alumni Association. He is National Treasurer of International Fiscal Association - India Branch (A Netherland based body). He has delivered more than 3000 lectures at national and international level. He has experience of handling various International Taxation including Transfer Pricing matters of big corporate. He worked as Finance Analyst in P&G. He has won many laurels during school, college and CA student life.
CA Naveen Sharma works as a Director - Internal Audit in Oasis Investment Company (Al Shirawi Group). He is a multi-faceted and multi-talented professional. He is in Dubai since last more than 23 years. He is among the first Chartered Accountants in the UAE to receive Golden Visa. At present, he is the Chairman of Taxation Society which is the only association dedicated to UAE Taxation. He is also the Hon. Cultural Events Secretary and Board Member of India Club, Dubai. India Club, Dubai is the largest body outside India and also Convener of IBPC Tax forum. He is also Past Chairman of ICAI UAE Dubai Chapter (2017-18).
CA Uttam Patel Graduated as Bachelor of Commerce from the University of Jabalpur in the year 1996. He obtained a Masters in Commerce from the University of Pune in the year 1998. He qualified as CA in 1999 with All India Rank. He is also qualified in ISA, certified professional in international taxation and IFRS from ICAI. He worked as an Assistant Manger for Tata Steels, Mumbai.