UAE CT: Changes in the Tax Group | Formation to Farewell of Tax Group | Amendment in Tax Group

"In this video, we cover the latest changes in the tax group structure under UAE Corporate Tax (CT), from the formation of a tax group to its dissolution. We also explore the critical amendments in tax groups, providing businesses with the insights they need to stay compliant with UAE tax regulations.

✅Key topics include:

✅How to form a tax group under UAE CT.
✅Understanding the amendments that can impact a tax group's status.
✅The process for dissolving or saying farewell to a tax group.
✅Key considerations for maintaining tax group compliance.
✅UAE Corporate Tax changes and their impact on tax groups.

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Throughout the life cycle of the tax group, various changes can occur, including members joining or leaving the group and the replacement of the parent company. The effectiveness of applications to form the tax group, join or leave as a subsidiary, and cease the tax group will be from the start of the specified tax period in the application submitted to the FTA or from another tax period determined by the FTA. When a new entity joins the tax group, whether as a parent or subsidiary, the effective date will be the incorporation date of the company. If members fail to meet tax group conditions or become residents of another jurisdiction, the changes will be effective from the beginning of the tax period in which these changes occur. If a subsidiary transfers its entire business to another tax group member and ceases to exist as a result, this change will be effective from the date of cessation. Similarly, in a two-member group where one member transfers its entire shares to the other, and the new parent company replaces the old parent company, the change will be effective from the date of transfer.

Whether you are a business owner, tax advisor, or financial manager, this video provides valuable guidance on the lifecycle of a tax group in the UAE. Stay informed and ensure your corporate tax strategies are up to date with the latest regulations.

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