First Tax Period of a juridical person
This Public Clarification (CTP003) clarifies the first Tax Period under the Corporate Tax Law for:
- A juridical person that is a Taxable Person and is subject to the provisions of the Commercial Companies Law.
- A Non-Resident Person who is a juridical person who has a Permanent Establishment.
- A Resident Person that is incorporated or otherwise established or recognised under the applicable legislation of a foreign jurisdiction that is effectively managed and controlled in the UAE.
In addition, the Public Clarification addresses the timeline for Tax Deregistration in case of the cessation of Business or Business Activities before or during the first Tax Period.
View the Document: Corporate Tax Public Clarification | CTP003
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