UAE Corporate Taxes

Overview:

• Basic General description of What is corporate tax
• Overview of Corporate tax in USA, UK, European union & Asia.
• Corporate tax implementation in UAE (FTA)
• Overview of UAE Corporate Tax Regime
• Who all are taxable person in UAE?
• Taxation of Natural Person and Private Trust.
• Taxation of Natural Person and Private Trust.
• Taxable Person MCQs & Case study.
• Legal Person - Domestic and Foreign.
• Foreign company - Deemed UAE resident – Conditions.
• Transparent entities under UAE corporate tax.
• Domestic and Foreign Partnership Firms.
• Fiscally transparent entities under UAE Corporate Tax.
• UAE Corporate Tax on Partnership Companies.
• Legal Person MCQs & Case studies.
• Charities and public benefit organizations - Entities Covered and Eligibility for Exemption.
• Investment Funds - Coverage under Corporate Tax, Case Study and Conditions to claim exemption.
• UAE Free zone - Taxation and Exemption from corporate tax.
• Taxation of Passive income of Free zone entities with no Mainland Branch.
• UAE Free zone entities – Nonexempt, non-mainland branch income.
• UAE Free zone entities – Taxability of transaction with mainland group company.
• UAE Free zone entities - Sale of goods/ services overseas customers.
• UAE Free zone entities – Income from mainland group company.
• UAE Free zone entities – Nonexempt, non-mainland branch income.
• Other provisions for UAE Free Zone Entity.
• Free Zone Entities MCQs & Case study.
• Basis of Taxation of Natural Person, Legal Entity and a Foreign Company.
• Taxability of income of Non – resident.
• UAE Sourced Income - Meaning and Types.
• UAE sourced income – Income earned from a UAE resident person.
• UAE sourced income - Payment attributable to UAE PE of a foreign company.
• UAE sourced income - Activities or contracts performed in the UAE.
• UAE sourced income - Assets located in the UAE.
• UAE sourced income - Rights used for economic purposes in the UAE.
• Basis of Taxation MCQs & Case study.
• Permanent establishment - Meaning, Test, Criteria for UAE PE.
• Permanent establishment – Fixed place of business PE. Permanent establishment – Dépendent
• Agent PE.
• Investment Manager PE – Exemption.
• Permanent Establishment MCQs & Case study.
• Registration and Deregistration under UAE Corporate Tax.
• Filing, payment of taxes and refund.
• Assessment procedure, assessment order and appeal.
• Advance ruling and Clarifications from FTA under UAE Corporate Tax.
• Documentation to be maintained for Corporate Tax.
• Audit requirement - Mandatory or optional under UAE Corporate Tax.
• Transition rules - Preparation of Audited Financial Statement on Start Date.
• Administration of UAE corporate tax MCQs & Case study.
• Computing Taxable Income under UAE Corporate Tax Law.
• Taxation of Unrealized Gains or Losses.
• Exempt Income - Received from Domestic Company and Foreign Company.
• Limitation of Deduction of Interest.
• Non-deductible expenses.
• Computing Taxable Income under UAE Corporate Tax Law – MCQs.
• Tax Losses - Carry Forward and Set o.
• Tax losses MCQ & Case study.
• Tax groups under UAE Corporate Tax.
• • Forming Tax Groups in the UAE Corporate Tax.
• Transfer of Tax Losses to group companies under UAE Corporate Tax.
• Tax Groups MCQs.
• Group Relief.
• Relief from Corporate Tax on Transfer of Business / Assets and Liabilities.
• Transfer Pricing.
• Related Party - Who all are covered?
• Connected Person - Who all are covered?
• MCQ’s & Case study.

Economic Substance Regulation:

• Economic Substance
• Regulations - Introduction and Timeline.
• Who all are covered under ESR?
• Exempt Entities under ESR Regulations.
• Relevant Activities under ESR.
• Relevant Activity - Distribution Business.
• Relevant Activity - Service Centre Business.
• Relevant Activity - Holding Company Business.
• Relevant Activity - Headquarter Business.
• Relevant Activity - Shipping Business.
• Relevant Activity - Lease Finance Business
• Investment Funds.
• Relevant Activity - High Risk Intellectual Property Business.
• Economic Substance Tests to be met by business.
• Penalties under UAE ESR Regulations.
• MCQ & Case study for Comprehensive explanation.
• Networking & FAQ.