UAE Joined the inclusive framework on the BEPS (Base Erosion and Profit Shifting) program to become 116th jurisdiction to join this framework UAE committed to implementing the following four BEPS minimum standards:
- Action 5: Countering Harmful Tax Practices
- Action 6: Prevention of tax treaty abuse
- Action 13: Transfer Pricing documentation and country-by-country reporting
- Action 14: Mutual Agreement Procedure.
With the implementation of Corporate Tax in UAE from June 2023 Transfer Pricing Regulations will also have introduced, which will be mandate all Related Party Transactions to be at Arm’s length. Transfer Price implementation will effect Value Added Tax (VAT), Customs Duty, withholding tax (if applies) and other related party transactions.
UAE Corporate Tax Transfer Pricing PDF
We Singiri&co will support and provides services related to Transfer Price (TP) Applicability, Effect on business, Cash flow effect analysis, TP Risk Assessment, Documentation, and reporting, etc., for further details on TP please contact 00971 58 932 0410 / 11.