Tax Groups in UAE | 9% Corporate Taxation - Group of Companies | Benefits & Ownership Requirements

Here we will discuss the concept of tax groups in the UAE CT (corporate tax) regime as explained in the consultation document, released by the MOF.
The Bottom Line: The concept of a tax group is essential for companies with multiple licenses in the UAE. Many companies operate as a group of companies as a single unit, having the option to be a tax group not only reduces the compliance cost but also helps reduce the effective tax rate of the company.
To read about it in detail click here - www.msiauditors.com/all-you-n...
#tax #taxgroups #corporatetax #taxation #taxadvice #msiadutors #fta #business #dubai #uae #companytax
Timestamp
0:00 Introduction to taxation for group of companies
1:24 Who is allowed to form a Tax Group?
2:12 What does it mean to be part of the tax group for CT?
2:45 What are the conditions to transfer losses between Group companies?
3:50 What happens in the case of a merger or acquisition?
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[@rahibtinwala3290]

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[@user-yj2cm6ko5x]

is it beneficial to form a corporate tax group? as the current memorandum only lists partners instead of a main company with 95%. because in a group, you dont get the benefit of $100000 threshold

[@udaraweerasekar2880]

Then what about if one of the subsidiary company located in Nigeria but still under same group but specifically that Nigerian entity paying Corporate Tax separately based on the Nigerian rules regulations . What would be the tax treatment?

[@MSIAuditors]

Since we do not have the law yet it is hard to say for sure. However, in such a case it seems like the income of the subsidiary will not be taxed.

[@udaraweerasekar2880]

@@MSIAuditors thank you for your response,yes agreed to avoid dual taxation.

[@MSIAuditors]

@@udaraweerasekar2880 You are welcome.

[@Mirjavalli]

Make video on crypto trading firm

[@MSIAuditors]

Sure we will make one video on the same.

[@vinnykrish9579]

Is this 9% coorporate tax applicable for UAE Offshore companies? Mine is set up at RAK ICC. Looking forward to your reply & thanking you in advance.

[@MSIAuditors]

To be sure we will need to wait for the law to release. Being in an offshore jurisdiction there is a good chance that no tax may apply as long as no UAE business is done.

[@vinnykrish9579]

@@MSIAuditors Thank you for your reply. Appreciate your prmotness and hope you will come up with a video on the same as when things are clearer.

[@MSIAuditors]

@@vinnykrish9579 Surely.