One of the biggest global events of 2023 will be the advent of the Income-tax regime in the United Arab Emirates. UAE has officially issued a federal decree-law on corporate tax at a 9 per cent rate for taxable business profits exceeding AED375,000. Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses (the “Corporate Tax Law”). Businesses will become subject to UAE Corporate Tax (“Corporate Tax”) from the beginning of their first financial year, which starts on or after 1 June 2023.
A corporate tax regime without transfer pricing provisions would be spineless. Transfer pricing finds detailed mention in the Federal Decree released on 9 December 2022. While we are undertaking detailed research on transfer pricing law in the UAE, here is our first take on the transfer pricing law in the UAE.
To know more about UAE transfer pricing or transfer pricing documentation, you can reach out at info@transprice.in
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