Attending this workshop is crucial for anyone involved in property transactions in the UAE. Here’s why:
- Understanding Corporate Taxation: Gain a deep understanding of corporate taxation concerning property transactions by individuals or companies, regardless of residency status.
- Legal Insights: Explore the details of Cabinet Decision No. (49) of 2023 regarding 'real estate investment,' double taxation treaties, and treaty overrides, ensuring compliance and maximizing benefits.
- Thresholds and Relief: Learn about the AED 1 million threshold and small business relief, crucial for optimizing tax liabilities and leveraging exemptions where applicable.
- Practical Examples: Explore real-world examples illustrating differences in treatment between residential and commercial transactions, facilitating better decision-making and strategy implementation.
- Comparative Analysis: Benefit from a comparative analysis summarizing tax treatment disparities between personally conducted transactions and those executed through companies, offering clarity and actionable insights.
Course Module
Topic 1 : Applicability of corporate taxation to property transactions carried out by natural persons, whether those persons are UAE resident or UAE nonresident.
- Definition of 'real estate investment' as per Cabinet Decision No. (49) of 2023, including sale, leasing, sub-leasing, and renting of land or property without requiring a license.
- Consideration of double taxation treaty override for non-residents.
- Discussion on taxable profits and the AED 1m threshold.
- Explanation of small business relief if profits are taxable.
- Examples illustrating differences in treatment between residential and commercial transactions.
Topic 2 : Applicability of corporate taxation to property transactions carried out by a juridical entity (i.e. a company) whether the company is a UAE company or non UAE company.
- Focus on defining taxable profits and computation methods.
- Examination of whether 'real estate investment' transactions under Cabinet Decision No. (49) of 2023 are excluded from company taxable profits.
- Consideration of double taxation treaty override for non-residents.
- Computation details: Booking revenues for tax purposes, claiming incurred costs, deductibility of funding costs, and payments to related and connected persons.
- Discussion on AED 1m threshold for corporate profits and small business relief if profits are taxable.
- Examples illustrating differences in treatment between residential and commercial transactions for companies.
Topic 3 : Summarising the differences in tax treatment for transactions conduced personally and those conducted in a company
Learning Outcome
By attending, you'll equip yourself with the knowledge and tools necessary to manage tax implications effectively, ensuring legal compliance, minimizing tax burdens, and maximizing financial outcomes.
ABOUT THE TRAINER
Dr. Peter Wilson
Dr. Peter Wilson, a taxation adviser with over 40 years of experience, based in Dubai since 2016, offers expertise in global tax laws, compliance, and dispute resolution. With a Ph.D. in 'BRICS and International Tax Law' and dual membership in the Institute of Chartered Accountants (UK and Australia), he advises diverse clients on taxation matters, including mergers, acquisitions, and cross-border services, drawing from leadership experience at EY and PwC.
