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Venkatachalam

Partner

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Nimish Goel

Partner

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UAE Corporate Tax

UAE Corporate Tax (UAE CT) Implementation Support

WTS Dhruva Services

In a significant development in the UAE, on January 31, 2022, the Ministry of Finance (MoF) announced the introduction of a Corporate Tax in the UAE effective from financials years starting June 01, 2023.

Given the announcement of the new law, we believe that implementation should be well planned and thought out so that business can continue to function smoothly during and post implementation.

What we do?
  • Impact Assessment : High level assessment of the applicability of the CT regime on in-scope and exempt entities
  • Detailed Assessment : Conduct detailed impact assessment on business based on final CT and TP regulations, review pricing of inter-company transactions and policies and highlight potential uncertain tax and TP positions.

CT implementation

  • Assistance in implementing Tax and TP policies and advising on structural changes to incorporate tax function.
  • Evaluate and advise on system readiness
  • Assistance in obtaining CT registration (individual or group)

UAE CT compliance

  • Assistance in preparation of CT return
  • Assistance in filing of CT return electronically
  • Assisting in preparation of TP local file
  • Evaluate arm’s length pricing of inter-company transactions

Our Approach

Technical And Functional Trainings

Dissemination of salient aspects of CT among all stakeholders is a crucial part as it must be followed and implemented correctly by all the stakeholders. Training sessions are intended to provide information and training on CT aspects in relation to all key constituents of a business.

Corporate Tax Advisory

We can assist companies by managing the queries raised, during and post CT implementation and assist in the following:

  • Update on the evolving tax landscape in the UAE with respect to the UAE CT
  • Advise on development of efficient tax strategies and policies
  • High-level advice on the arm’s length nature of the new inter-company transactions in line with the OECD Guidelines and UAE CT/TP law