Corporate Tax Guide | CTGTXR1
Accounting Income: The accounting net profit or loss for the relevant Tax Period as per the Financial Statements prepared in accordance with the provisions of Article 20 of the Corporate Tax Law.
Accounting Standards: The accounting standards specified in Ministerial Decision No. 114 of 2023.
Accrual Basis of Accounting: An accounting method under which the Taxable Person recognises income when earned and expenditure when incurred.
AED: The United Arab Emirates dirham.
Authority: Federal Tax Authority.
Bank: A Person licensed in the UAE as a bank or finance institution or an equivalent licensed activity that allows the taking of deposits and the granting of credits as defined in the applicable legislation of the UAE.
Beneficial Recipient: For the purposes of Article 3 of Cabinet Decision No. 100 of 2023 in relation to determining if income is derived from transactions with a Free Zone Person, it shall mean a Person who has the right to use and enjoy the service or a Good and does not have a contractual or legal obligation to supply such service or Good to another person.
Business: Any activity conducted...