Group Relief under UAE Corporate Tax
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May 16, 2022
|3 mins read
Group Relief under UAE Corporate Tax
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
- 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 ?
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 ?
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