Accounting Standards and Interaction with Corporate Tax
This guide (CTGACS1 of 2023) provides guidance on the interaction of Accounting Standards with Corporate Tax, particularly on the following aspects:
- Preparation of Financial Statements;
- The Cash Basis of Accounting;
- The realisation basis of accounting;
- Other adjustments under Article 20(2)(i) of the Corporate Tax Law; and
- Adjustments under the transitional rules.
View the Document: Corporate Tax Guide | CTGACS1 of 2023
Important Notice
The above extract has been provided for reference only and is based on information available in the public domain at the time of publication, which is subject to change. This does not constitute any form of advice or recommendation and therefore cannot be relied on to cover specific situations. We highly recommend that you consult with a qualified tax advisor in the UAE for personalized guidance based on your specific business circumstances. We accept no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication. Please refer to the following resources for the official and up-to-date information on the UAE Corporate Tax legal framework:- UAE Ministry of Finance: https://mof.gov.ae/tax-legislation/; and
- UAE Federal Tax Authority: https://tax.gov.ae/en/Legislation.aspx