The introduction of Corporate Tax (CT) in the United Arab Emirates (UAE) as of 1 June 2023 has significantly impacted various economic sectors and businesses, including Free Zone entities. The UAE has prioritised creating CT policies conducive to business operations. However, the new UAE CT law brings nuances that require an in-depth analysis of the parties and transactions involved in each situation.

Our course delves into the intricacies of the UAE CT regime as outlined in the UAE CT legislation and guidance. The course includes both theoretical explanations and real-world applications for a broad spectrum of businesses in the UAE and internationally.

VAT (Value Added Tax) is a general broad-based consumption tax, presently adopted by nearly 175 countries worldwide. The GCC VAT course focuses on fundamentals of VAT in the Gulf Cooperation Countries (GCC). Participants receive training on key concepts of GCC VAT, such as taxable persons, taxable transactions, place of supply, zero-rating, and exemptions, including discussions on more general topics like VAT fraud and abuse of law. The course adopts a broader perspective on GCC VAT by comparing it with other VAT systems, with particular attention to the EU VAT system and the OECD International VAT/GST Guidelines.

Excise taxes are a tax levied on the consumption of goods. Excise tax rates are often relatively high and as such, are an effective way to discourage the consumption of specific goods for a variety of reasons, but most commonly for public health reasons, as well to generate tax revenue. The GCC introduced excise tax in 2015 through the Excise Tax Treaty, and since then, the excise tax has been implemented in multiple GCC member states. We will cover the fundamentals of the GCC excise tax.

Organisations in the Middle East engaged in global trade face a maze of complex import, export, and border security regulations. Therefore, customs compliance obligations and trade regulations must be carefully navigated to determine the customs duty (fiscal) burden and deal with the many non-fiscal trade matters to maintain compliance as well as pursue benefits of cost savings opportunities.

In this session, we will learn about the overall customs and global trade landscape and focus on the main three 'customs master data pillars' of tariff classification, origin, and customs valuation. We will discuss how these concepts can impact the customs (duty) implications in the cross border movements of goods.

Given recent developments, we will also touch upon customs audits, dispute processes, and non-fiscal trade control measures in the field of export controls and sanctions.

GCC countries implemented domestic tax regimes some years back, including corporate tax, capital gain tax, Zakat, withholding tax, etc. The course will focus on the main tax aspects in GCC and a comparable study to show the main differences and similarities.

Tax treaties constitute the backbone of international trade and aim to facilitate it. We cover the fundamental concepts of double tax treaties and show how the GCC tax treaty network impacts cross-border investments by both individuals and businesses. This includes favourable tax relief on income from employment, financial investments, real estate investments, and international businesses.

Transfer Pricing (TP) is a key concept in international taxation. It addresses important economic and tax considerations in relation to intercompany transactions between related parties. We will cover the fundamental concepts of TP as well as the key recognised OECD TP methodologies and how to implement them in TP documentation. Finally, the TP module will also provide an overview of how tax authorities in the GCC region have implemented the TP regulations.

Pillar 2 Implementation in the GCC
Pillar 2 is an OECD-led initiative that aims to ensure that large multinational enterprises (MNEs) pay a minimum tax on income arising in each jurisdiction where they operate. Also referred to as the “Global Anti-Base Erosion” or “GloBE” Rules, the Pillar Two solution provides for a new global minimum Effective Tax Rate (ETR) of 15% for certain MNEs, compounded with a Subject to Tax Rule (STTR) in case the minimum ETR is not reached.

This specialisation track illustrates the key concepts underpinning the Pillar Two initiative, analysing the main implications and challenges of its implementation in the UAE and other GCC countries.

UAE Free Zone Tax Regime
The UAE boasts a vibrant business community supported by an extensive network of Free Zones. The over 40 UAE Free Zones play a pivotal role in attracting foreign investment, fostering the nation’s economic growth, and diversifying its economy. In June 2023, the UAE ended its largely tax-free status by introducing a federal Corporate Tax at a 9% rate. The new Corporate Tax also applies to UAE Free Zones. However, the UAE Corporate Tax Law provides for a special tax regime for entities incorporated or operating in one or more of the UAE Free Zones.

This specialisation track illustrates the fundamentals of the UAE Free Zone Regime, discussing the concept of Qualifying Free Zone Persons and under which circumstances their activities can benefit from a 0% tax.