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Group Relief under UAE Corporate Tax

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May 16, 2022

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3 mins read

Group Relief under UAE Corporate Tax

Groups – Transfer of Assets & Liabilities

Groups – Transfer of Assets & Liabilities

  • Transfer of assets and liabilities between UAE resident companies that are at least 75% commonly owned – Transfer deemed at tax net book value
  • The assets / liabilities transferred remain within the same group for aminimum of three years – ELSE in year of transfer ?

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Group Relief under UAE Corporate Tax – Transfer of Business

Group Relief under UAE Corporate Tax - Transfer of Business

  • Proposed law will exempt or allow for a deferral of taxation where a whole business, or independent parts of a business, are transferred in exchange for shares or other ownership interests.
  • Transfer deemed at tax net book value
  • The business should remain within the same group for aminimum of three years – ELSE in year of transfer ?

UAE Corporate Tax Consultant

Group Relief under UAE Corporate Tax – Individual Contributes Business

Group Relief under UAE Corporate Tax - Individual Contributes Business

  • Individual carries on business ;
  • Individual contributes business to a New Company
  • Individual gets shares in the new company
  • Transfer deemed at tax net book value
  • The business should remain within the NEWCO for a minimum of three years – ELSE in year of transfer ?

Learn More about  “Group Relief under UAE Corporate Tax” – Subscribe UAE Corporate Tax Course

Arinjay Jain

Bio of author

Arinjay is a Chartered Accountant with more than 20 years of post-qualification experience. He worked as Director, in the M&A Tax Division at KPMG in India. Presently, he is advising several MNCs in UAE on Economic Substance Regulations and impact of the UAE Corporate Tax Law on their business and clients across globe on International Tax issues . He is a well recognised Trainer of International Tax and UAE Corporate Tax. The areas of service include the following : - Advise and Compliance relating to International Tax Issues; Advise relating to UAE Corporate Tax Issues; Advise and Compliance relating to UAE Economic Substance Regulations; Advise and Compliance relating to Indian Income Tax Issues; Other connected matters from a Regulatory perspective.

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