UAE Corporate Tax

Course details

COURSE OBJECTIVES

1. Gain a comprehensive understanding of UAE Corporate Tax and enhance your financial reporting skills.
2. Learn key principles of the Conceptual Framework of UAE Corporate Tax and grasp its application.
3. Develop policies for corporate tax & addressing implementation issues effectively.
4. Benefit from a training program that focuses on implementation, capacity development, benefits realization, and risk management plans.
5. Gain knowledge on recent changes in Corporate tax and stay up-to-date with industry standards

 
INSTITUTIONS:

1. Private Companies
2. Accounting and Audit Firms
3. Tax Consulting Firms
4. Professional Accountancy Organizations
5. Professional Audit Organizations
6. Universities & Academic Institutions

 
TARGET AUDIENCE:

1. This training course is suitable for a wide range of professionals but will greatly benefit:
2. Finance and accounting personnel in the private sector
3. Department heads, directors, senior managers, managers, accountants, and financial professionals
4. Members of audit and advisory boards for public and private sector organizations
5. Taxation teams responsible for corporate tax
6. Faculty members and other academic accounting and tax team staff
7. Corporate compliance officers
8. Accounting and finance department staff of the Private companies.

 
 
COURSE STRUCTURE
Module 1 – Overview of UAE Corporate Tax

• What is Tax?
• Tax in GCC
• Corporate Tax Rates
• Exempt Persons
• Tax registration & deregistration.

 
Module 2 – Taxation Person & Tax base

• Resident Taxable Person

 

• Non-Resident Taxable Person
• State Sourced Income
• Family Foundation
• Unincorporated Partnership
• Tax Resident Vs PE
• Tax Group

 
Module 3 – Taxable Income

• Determining Taxable Income
• Exempt Incomes
• Participation Exemption
• Non-Resident Exemption
• Unrealized Gains & Losses

 
Module 4 – Deductions

• Deductible Expenditure
• Interest Expenditure
• Entertainment Expenditure
• Non-Deductible Expenditure

 
Module 5 – Reliefs

• Small Business Relief
• Business Restructuring Relief
• Tax Loss Relief & Limitations
• Transfer of Tax Losses
• Qualifying Group

 
Module 6 – Calculation of Corporate Tax

• Calculation & Settlement of Tax
• Withholding Taxes
• Foreign Tax Credits
• International Agreements
• Double Tax Avoidance Agreement (DTAA)
• Corporate Tax Payment
• Corporate Tax Refund

 
Module 7 – Tax Administration

• Tax Returns
• Financial Statements
• Record Keeping
• Tax Period
• Calculations & Assessments
• Tax Audits

Module 8 – Free Zones

• Qualifying Free Zones
• Qualifying Income
• Qualifying Activities
• Excluded Activities
• The De-minimis Requirement
• Election of General Tax

 
Module 9 – Violations & Penalties

• General Anti Abuse Rules
• Assessment of Corporate Tax
• Voluntary Disclosures
• Penalties

 
Module 10 – Transfer Pricing (TP)

• Overview of Transfer Pricing
• The Arm’s Length Price
• Related Persons & Connected Persons
• TP Methods
• TP Documentation
• TP Audit & Risk Assessment

 
 
ORGANISATIONAL IMPACT
The organization stands to benefit greatly from employees who possess the following:

• A deep understanding of UAE corporate tax requirements.
• Skills to help senior leaders mitigate the risk of non-compliance with corporate tax.
• Effective development of tax transition management policies.
• Expertise in managing system modifications and other changes needed to implement corporate tax effectively.
• Application of industry standards to ensure improved accountability by providing a comprehensive and accurate interpretation of an entity's operations and performance.

 
PERSONAL BENEFITS
By enrolling in this course, participants can gain valuable insights and benefits.

• Acquire a comprehensive understanding of the structure and framework of private sector corporate tax.
• Learn how to effectively prepare compute corporate tax and its presentation on financial statements.
• Equip yourself with the necessary skills to successfully migrate your organization towards corporate tax compliance.
• Application of industry standards to ensure improved accountability by providing a comprehensive and accurate interpretation of an entity's corporate tax performance.

Updated on 27 November, 2024