Country UAE Tax Corporate Tax Question – What would be the business profits/tax base in the UAE on which Corporate Tax would be applicable ? Answer – The business profits will be accounting net profit reported in financial statements of a business with adjustments for certain items (to be specified under CT law) prepared in … Read more
Country UAE Tax Corporate Tax Question – From when would the UAE corporate tax be applicable? Answer – The federal corporate tax on business profits introduced by UAE Ministry of Finance will be applicable for the financial years starting on or after 01 June 2023. The first day of the FY which starts on or … Read more
Country UAE Tax Corporate Tax Question – Who are covered under Corporate Tax in UAE ? Answer – The companies or individuals, who carry out any businesses and commercial activities under a commercial license in the UAE are proposed to be covered under Corporate Tax in UAE. Related Questions – What is UAE Corporate Tax … Read more
Country UAE Tax Corporate Tax Question – What is UAE Corporate Tax ? Answer – UAE Corporate Tax is applicable from Financial Year starting from June 1, 2023. The tax is payable on business profits and certain other income . The applicability of Corporate Tax of to the following person has been examined in detail … Read more
Slump Sale Meaning ‘Slump sale’ meaning, relevant for Section 50B of the Income Tax Act, considers the following important aspects : – There is a transfer of one or more undertaking The transfer may be by any means (for cash consideration or through an exchange of shares/ other form of consideration) The transfer is for … Read more
Elimination of Double Taxation – Article 23 – Double Taxation Avoidance Agreement Applicability of Article 23 – Elimination of Double taxation In many cases, the application of tax Treaty may result into double taxation for tax payers. In such a case, in order to provide relief to such Tax payers, Article 23 provides for the … Read more
Directors Fees – Article 16 – OECD Model tax Convention Taxation of Director’s Fees – Article 16 Article 16 – India USA Treaty Directors’ fees and similar payments derived by a resident of a Contracting State in his capacity as a member of the Board of Directors of a company which is a resident of … Read more
Question – What is the purpose of No PE Declaration India? Answer – The purpose of No PE Declaration India is to help a non-resident to receive income from an Indian customer either without any withholding tax or deduction of taxes at a lower rate. In case of a contract where the taxes are to … Read more
Question – Where can I get the No PE Certificate India template ? Answer – For obtaining guidelines on the content of the No PE Certificate India template, you can visit us at https://sortingtax.com/no-pe-certificate/ . However, if you need help in obtaining your Treaty specific No PE Certificate India , you can avail our services … Read more
Question – What is the declaration of No Permanent Establishment in India? Answer – The declaration of No Permanent Establishment in India helps a non resident to receive income from an Indian customer either without any withholding tax, or deduction of taxes at a lower rate. If you need help in obtaining your Treaty specific … Read more