Ravishanker V, Director - Taxation, Kreston Menon
Background and legislative framework Transfer pricing provisions were introduced in the United Arab Emirates (“UAE”) with the enactment of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”). Pursuant to Article... 
Ravishanker V, Director - Taxation, Kreston Menon
With the introduction of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the UAE Corporate Tax Law), the UAE’s new Corporate Tax (CT) regime is now in effect. Many businesses will be filing their first CT returns for the financial... 
Ravishanker V, Director - Taxation, Kreston Menon
Global Minimum Tax (GMT) or Global Anti-Base Erosion Model (Pillar Two) Background The Organisation for Economic Cooperation and Development (OECD) has explained Base Erosion and Profit Shifting (BEPS) as ‘tax planning strategies used by multinational enterprises that... 
Ravishanker V, Director - Taxation, Kreston Menon
While the fundamental aim of measuring profit aligns across commercial accounting practices and tax regulations, different countries apply distinct tax and accounting rules. Some nations closely link accounting income with taxable income, while others have... 
Ravishanker V, Director - Taxation, Kreston Menon
Introduction In a move that has significant implications for businesses operating within UAE’s free zones, the implementation of the Corporate Tax Law through Federal Decree-Law No. 47 of 2022 issued on 1st June 2023 has ushered in a new era of taxation. This landmark... 
