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We are here to help guide you on the impact of UAE CT on your business from analysis through to implementation and post implementation.Together, we can navigate the complexities and take the actions required to make sure you are ready to comply with CT once it becomes effective from 1 June 2023 onwards.
We undertake ‘impact assessments’ through a phased approach which covers the following aspects:
Qualitative analysis on the impact of UAE CT and TP on the business
Quantitative analysis to evaluate potential financial impact of UAE CT for business
Identify restructuring and optimisation opportunities
Flag the required system changes
Carry out a detailed analysis (or update the initial assessment) of the anticipated key areas of consideration for your business as a result of the introduction of CT and TP.
Identify possible uncertain CT positions and key decision points.
Identify restructuring and optimisation opportunities for your legal structure or operations to minimise administrative complexities and UAE CT cost.
Perform fit/gap analysis to identify required system changes to meet financial information and CT compliance requirements.
Amend contracts and other legal agreements
Review and implement necessary TP policies
Implement changes to legal / organizational structure
Obtain clarifications / tax rulings
Apply for CT groups / exemptions
Amend tax function and tax governance framework
Implement system changes / updates
Perform TP risk and opportunity analysis to identify the changes required from a transfer policy standpoint
Training and awareness sessions
Submit applications for tax groups and exemptions
Prepare and submit CT returns
Prepare and submit TP documentation
Provide Tax accounting / provisioning support
If you have any questions, feel free to reach us at CT.UAE@pwc.com