A Complete Guide on Related Parties and Connected Persons Under UAE Corporate Tax Law
A Complete Guide on Related Parties and Connected Persons Under UAE Corporate Tax Law Under the UAE Corporate Tax Law, Related Parties and Connected Persons refer to individuals or entities with close ownership, control, or influence over each other. These relationships must be carefully assessed to ensure transactions are conducted at arm’s length, preventing profit shifting or artificial tax advantages. The law requires proper documentation, disclosure of related-party transactions, and adherence to transfer pricing rules. Connected Persons, such as shareholders or directors, also fall under special consideration when receiving payments from a business. This guide helps businesses understand these definitions, compliance requirements, and the importance of transparent reporting to avoid penalties and ensure fair taxation.
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