To be eligible to enjoy the BRR, the transferer should be a taxable person
By Mahar Afzal/Compliance Corner
Business restructuring relief (BRR) is provided to businesses to facilitate their smooth operation by treating them as a transfer of a going concern, without any change in ownership.
Article 27 of the corporate tax law (the law) mandates that, upon meeting specified conditions, assets and liabilities to be transferred at book value. This month, the Federal Tax Authority (FTA) has released a guide on this topic.
The BRR is optional and for our analysis, we have organised our discussion into three stages: the pretransfer phase, the transfer phase, and t…
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