التحضير لاختبار ICAI لضريبة الشركات في الإمارات

Topics from the retained ICAI course syllabus.

• • Background and rationale of introducing CT in UAE
• • Basis of Taxation - Source and Residence Rules - Double Taxation
• • Important Definitions
• • Income Taxable and Exempt
• • Persons subject to Corporate Tax
• • Deductible & Allowable Expense
• • Limitations
• • Taxable income, Losses
• • Rate of Corporate tax
• • Taxable Year
• • Manner of payment of tax and filing of tax return

Topics from the retained ICAI course syllabus.

• • Basis of taxation (resident vs non-resident)
• • Legal persons/Juridical person
• • Natural persons engaged in business/commercial activity in UAE
• • Residential status and its relevance
• • Worldwide taxation in case of Legal persons incorporated in UAE and Foreign entities with PoEM in UAE
• • What is the Place of Effective Management (PoEM)
• • Territorial taxation of Natural persons
• • Meaning of UAE sourced income
• • Art. 4 of OECD MC (Resident)

Topics from the retained ICAI course syllabus.

• • Persons not covered by UAE CT
• • Exempt persons
• • Private or family trust holding
• • Investment funds and conditions for their exemption
• • Investment Manager Exemption
• • Fiscally transparent vs Separate entity approaches to partnerships
• • Possibilities of double non-taxation - OECD Action Plan
• • Approach under UAE CT
• • Potential challenges

Topics from the retained ICAI course syllabus.

• • Concept of PE under Art. 5 of OECD MC and international context
• • Fixed Place PE and Agency PE
• • Installation PE and Service PE
• • PE of Free Zone persons in Mainland - implications
• • Taxation of PEs - attribution
• • Taxation of NRs and Income from PE
• • Article 7 of OECD MC

Topics from the retained ICAI course syllabus.

• • Qualifying Free Zone person
• • Taxation Rules of Free Zone persons
• • Conditions to Qualify as Free Zone person
• • Qualifying Income vs Non-qualifying Income
• • Qualifying Activities vs Non-qualifying/excluded activities
• • De minimis requirements
• • Transaction between Free Zone Person and its group company in Mainland UAE
• • Impact of Losing QFZP status

Topics from the retained ICAI course syllabus.

• • Categories of Exempt Income
• • Dividend and Profit Distribution
• • Participation Exemption and applicability
• • Foreign PE Exemption
• • Non-Resident person operating certain business
• • OECD approach towards thin-capitalization norms
• • Fixed ratio rule and Group ratio rule
• • Thin-capitalization: Interest expense capping
• • General Interest Deduction Limitation Rule
• • Specific Interest Deduction Limitation Rule
• • Intra-group borrowing and need for valid commercial reasons
• • Safe-harbor protection

Topics from the retained ICAI course syllabus.

• • Tax Group and Conditions
• • Addition/Leaving Group
• • Taxable Income of a Tax Group
• • Tax exemption/deferral for inter-company transfer of assets or liabilities

Topics from the retained ICAI course syllabus.

• • Tax neutrality - International experience
• • Tax exemption/deferral for transfer of business under share swap
• • Cross-border corporate reorganizations
• • Tax Loss Relief
• • Meaning and mechanism of carry forward of tax losses
• • Change in shareholding
• • Transfer of Tax Loss
• • Losses that cannot be carried forward

Topics from the retained ICAI course syllabus.

• • General Rules for Determining Taxable Income
• • Method of Accounting
• • Accounting standards and calculation of accounting profits or losses
• • Adjustment for exemptions and disallowances
• • Unrealized gains/losses - Capital vs Revenue items
• • Computation of Income

Topics from the retained ICAI course syllabus.

• • Deductible Expenditure other than Interest
• • Allowable Expenditure
• • Entertainment Expenses
• • Non-Deductible Expenditure
• • Small Business Relief
• • Transfer within the Qualifying Group
• • Business Restructuring Relief

Topics from the retained ICAI course syllabus.

• • Calculation of Corporate Tax Payable
• • Withholding Tax/Foreign Tax Credits
• • Payment and Refund of Corporate Tax
• • Tax Registration and deregistration
• • Tax Returns & Clarifications
• • Record Keeping
• • Violations and Penalties
• • Assessment
• • Exemption vs Credit Method
• • Foreign Branch Profit exemption
• • Foreign Tax Credit - concept and computation under DTAAs

Topics from the retained ICAI course syllabus.

• • Anti Abuse Rules
• • Transitional Rules
• • Closing Provisions

Topics from the retained ICAI course syllabus.

• • Model Tax Conventions on Double Tax Avoidance - introduction of Articles
• • Article 12 - Royalties and Fees for Technical Services
• • Article 10 - Dividend
• • Article 11 - Interest

Topics from the retained ICAI course syllabus.

• • Article 6 - Income from Immovable Property
• • Article 13 - Capital Gains

Topics from the retained ICAI course syllabus.

• • Introduction to BEPS and its Action Plans
• • Treaty Abuse and Treaty shopping
• • Reading DTAAs with the MLI and relevance of synthesized text
• • OECD and G20 Inclusive Framework on BEPS

Topics from the retained ICAI course syllabus.

• • BEPS 2.0 - Pillar 1 and Pillar 2
• • Global minimum effective tax rate - Pillar 2 of BEPS 2.0

Topics from the retained ICAI course syllabus.

• • Scope of UAE Transfer Pricing Regulations
• • Arm's Length Principle
• • Related Parties and Control
• • Payments to connected persons

Topics from the retained ICAI course syllabus.

• • Concept of Functional Analysis
• • Characterization of entities based on functions, assets and risks: manufacturers, distributors and service providers

Topics from the retained ICAI course syllabus.

• • Transfer Pricing Methods - selection
• • Comparability Analysis
• • Internal and External Benchmarking
• • Connected Person payments benchmarking

Topics from the retained ICAI course syllabus.

• • Choice of tested party
• • Selection or rejection of comparables
• • Timing issues in comparability
• • Arm's length range
• • Comparability adjustments

Topics from the retained ICAI course syllabus.

• • Transfer Pricing Disclosure Form
• • Transfer Pricing Study Report
• • BEPS Action Plan 13 three-tiered system
• • Master File
• • Country by Country report
• • Local File

Topics from the retained ICAI course syllabus.

• • Financial Transactions
• • Intangibles
• • Intra-Group Services
• • Business Restructuring
• • Transfer Pricing audit and risk assessment: burden of proof, adjustments, corresponding adjustments and penalties
• • Dealing with controversies
• • Mutual Agreement Procedure and Advance Pricing Agreements
• • Profits attribution to PE using Separate Entity Approach and Transfer Pricing principles