Determining Tax bill under UAE Corporate Tax law

The webinar was an information-rich session, dissecting the key components of the UAE Corporate Tax law and how to accurately determine the tax bill.

The presentation focused on providing a clear mechanism for calculating taxable income, explaining what income is taxable and what is exempt, and detailing deductible and non-deductible expenses. The session emphasized the adjustments needed for income and expenses before they are included in the computation. Important clarifications were provided on the tax implications of dividends, gains/losses from participating interests, and the Foreign Permanent Establishment Exemption. The treatment of various expenditures, including capital expenditure and entertainment expenditure, was explained, along with what provisions and bad debt write-offs are allowable.

Nexdigm’s speakers also highlighted the reliefs available for specific transaction types, such as those within a qualifying tax group and business restructuring, and adjustments required for transfer pricing. The session further covered the carry-forward of tax losses and outlined the Corporate Tax Regime's timelines and tax rates, contrasting the rules for Free Zone persons and other entities.

By translating the complexities of the UAE Corporate Tax law into a practical guide for calculating tax liability, Nexdigm reinforced its commitment to empowering businesses to navigate the evolving tax landscape with confidence.