The UAE Ministry of Finance has issued three new decisions on corporate tax ahead of its introduction on June 1, covering details on restructuring, taxable income and intra-group transfers.
One of the decisions provides details on how to claim corporate tax relief on transfer of assets and liabilities between members of a qualifying group, the ministry said in a statement on Wednesday.
The conditions under which business mergers and other restructuring transactions can be undertaken without triggering a corporate tax liability is clarified by the second decision.
Meanwhile, the third decision outlines the general rules for determining taxable income to streamline the process for UAE businesses.
The new decisions aim to simplify the proc…
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