UAE Federal Tax Authority publishes numerous corporate tax guides

The United Arab Emirates (UAE) Federal Tax Authority (FTA) has released several detailed guides in 2023 and recently one in 2024, regarding various legal aspects and concepts of the UAE Corporate Income Tax Law, offering detailed explanations and practical examples to aid taxpayers in understanding and complying with the new UAE Corporate Income Tax Law.

The guides reflect the UAE’s objectives to achieve a transparent corporate tax framework, and cover a wide range of topics, from registration processes to exemptions and international tax considerations, thus ensuring a wide-ranging understanding of the corporate tax landscape.

Each guide provides specific details and clarifications pertinent to different aspects of the UAE’s corporate tax laws. The focus on specific and complex areas, such as transfer pricing, taxation of foreign income, and tax obligations for natural and juridical persons, allows for clarification of potentially significant tax positions, facilitating an ease in doing business, enhancing compliance and fostering a robust tax environment.

Below is a summary of the key guides released, arranged chronologically:

Based on the constant updates and changes, it is crucial for companies to carefully study the Corporate Tax Law Guides released by the UAE FTA, as it not only allows for transparency, and uniformity, but also provides key insights regarding the legal positions that the FTA will take in regard to the interpretation of the law. Staying abreast of these guides will therefore ensure that companies have predictability, assists in avoiding violations, penalties, fines and reputational harm. The guides also allow for effective and informed planning and greater clarity around the corporate tax incentives, exemptions and reliefs available.
 
Authored by: Zain Satardien