United Arab Emirates Tax Agency Posts Corporate Tax Guide on Business Restructuring Relief

The Emirati Federal Tax Authority April 17 posted online a new corporate tax guide on business restructuring relief enacted under Federal Decree-Law No. 47 of 2022, which applies to tax periods commencing on or after June 1, 2023. Topics covered include: 1) an overview of the relief, including relevant definitions and examples; 2) transactions covered in the relief, like transfers of an entire or independent part of a business between “taxable persons” that are resident, or are nonresident with permanent establishment (PE) in the country; 3) eligibility conditions, such as the transferor and transferee not being exempt or Qualifying Free ...