FTA published new Corporate Tax Guide

The new Guide is related to the relief for qualified groups under Article 26 of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (UAE Corporate Tax Law).

The FTA's Guide provides information on:

• transactions to which the relief applies,
• conditions for applying the relief,
• effects of applying the relief,
• under which the relief may be revoked and the consequences of revoking the relief, 
• compliance requirements,
• alignment with other provisions of the UAE Corporate Tax Law.

The Guide is recommended to be examined by any taxable person intending to transfer one or more of its assets or liabilities to another taxable person who is a member of the same qualified group.

If the assets or liabilities are transferred to the taxable person as a result of a liquidation, dissolution or merger (i.e. when the legal entity ceases to exist), the qualified group relief does not apply.

UAE — 03 April 2024
Original article: Tax.gov.ae