United Arab Emirates Tax Agency Explains Application of Related Parties Definition Under Corporate Tax Law

The Emirati Federal Tax Authority July 22 issued Public Clarification No. CTP002, explaining the application of the term, “related parties,” under the Corporate Tax Law, where there is a common ownership or control through a government entity. The clarification includes that: 1) taxable persons who only have a common ownership or control through the federal or local government are not related parties under Article 35 of the Corporate Tax Law; and 2) common ownership or control by a federal or local government is not, on its own, a basis for being a related party under Article 35 of the Corporate ...