This course offers a concise exploration of the tax implications for Free Zone entities in the UAE.
Topics include definitions, Qualifying Free Zone Persons, Qualifying Income, and the decision to opt for corporate tax.
The course also covers Corporate Tax Designated Zones, their linkages with UAE VAT and Customs rules, and the tax treatment of real estate.
Insights into the tax impact for foreign entities with control or permanent establishments in Free Zones are provided.
Participants gain a comprehensive understanding to navigate UAE Free Zone tax regulations effectively.
Course details are as follows:
Topic 1 : Important and relevant definitions for free zone entities
- Develop a solid foundation in the terminology essential for navigating UAE Free Zone tax regulations.
Topic 2 : Classification of Qualifying Free Zone Person (QFZP)
- Understand the implications of QFZP status on taxation in the UAE Free Zones.
Topic 3 : Qualifying Income, Qualifying Activity and Excluded Activities
- Analyze the concepts of Qualifying Income and Qualifying Activity for Free Zone entities.
- Identify and comprehend activities that are excluded from the qualifying criteria
Topic 4 : Election to be Subject to Corporate Tax by Free Zone entities
- Explore the factors influencing the decision of Free Zone entities to elect for corporate taxation.
Topic 5 : Importance of Substance for Free Zone Companies
- Recognize the significance of maintaining substance for companies operating in Free Zones.
Topic 6 : De Minimis Requirements, exemptions, and pitfalls
- Understand De Minimis Requirements and exemptions applicable to Free Zone entities.
- Identify potential pitfalls and challenges associated with these requirements.
Topic 7 : Corporate Tax Designated Zone and connecting linkages of UAE VAT and Custom rules
- Explore Corporate Tax Designated Zones and their connections with UAE VAT and Customs ruless
- Understand the interplay between corporate taxation, VAT, and Customs regulations.
Topic 8 : Real Estate and tax treatment for Free Zone entities
- Examine the tax implications of real estate holdings for entities operating in Free Zones.
Topic 9 : Tax impact for foreign entities, having control or permanent establishment based in Free Zone
- Evaluate the tax implications for foreign entities with control or permanent establishments in Free Zones.
Learning Outcome:
Participants completing this course will be equipped with a comprehensive understanding of the tax landscape in UAE Free Zones, enabling them to make informed decisions and navigate the regulatory framework effectively.
ABOUT THE TRAINER
CA. Rajiv Hira
A practicing Chartered Accountant, with an experience of leading roles in private and multinational financial institutions for over 20 years. Extensive expertise in strategic and tax advisory, ERM (Enterprise Risk Management) implementation, process design - review across credit risk & operational risk, audit function and regulatory engagement.
Expertise in connecting with people and processes to arrive at the effective value preposition for business, derived from hands-on experience of working in multicultural and multinational organizations. Experience of working in Asia, Africa & Middle East.
Hands-on experience in engaging with regulators and governing bodies in the space of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). This work involves understanding the strategic intent and implementation objectives for compliance.
