Corporate Tax Final Return
Entity Name:
Applicant Name:
Corporate Tax TRN:
Application Reference No.: 970000000151
Submission Date & Time: 25 May 2024 06:18:30 GST
Application Status: Submitted
Step 1: Taxpayer Information
First Name in English
TRN
Entity type Legal Person - Incorporated
Entity subtype UAE Private Company (Incl Establishment)
Building Name and Number
Street Name (Area)
Area
Country United Arab Emirates
City
Mobile number
Tax period start date 1/1/2024
Tax period end date 21/5/2024
Tax basis Resident
Revenue for the tax period 0.0000
Accounting basis used in the financial statements Cash Basis
Step2: Election
Are you electing for Small Business Relief? No
Are you electing to use the realisation basis? No
Are you electing to exclude all eligible Foreign
Permanent Establishment Income and associated No
expenditure in this return?
Are you electing to adjust Taxable Income for gains
recognised on a Qualifying Immovable Property owned No
prior to the first Tax Period?
Are you electing to adjust Taxable Income for gains
recognised on a Qualifying Intangible Asset owned No
prior to the first Tax Period?
Are you electing to adjust Taxable Income for gains
and losses on a Financial Asset and/or Financial No
Liability owned prior to the first Tax Period?
Are you electing for the relief for transfers within a
Qualifying Group? No
Are you electing for the Business Restructuring Relief No
Are there any other elections or disclosures required in
the "Additional Information" section? No
Step 3: Schedule of Accounting
Amount
Description
(AED)
Revenue 0.0000
Other expenses (excluding Salaries and Wages,
Depreciation, Amortisation and Interest expenses) 0.0000
Earnings before Interest, Taxes, Depreciation and
Amortisation (EBITDA) 0.0000
Total expenses 0.0000
Net profit/loss before tax 0.0000
Step 4: Tax computation
Section: Income before Adjustment for Deductions:
Amount
Description
(AED)
Accounting Income 0.00
Realisation basis adjustments 0.00
Transitional provisions 0.00
Election related adjustments 0.00
Other Adjustments to Accounting Income 0.00
Income before adjustments for deductions 0.00
Section: Adjustments for Exempt Income
Amount
Description
(AED)
Dividends and other profit distributions from a UAE
juridical person 0.0000
Participation exemption - Dividends and other profit
distributions received from a foreign Participating 0.0000
Interest
Participation exemption - Gains or losses on the
transfer, sale, or other disposition of a UAE or foreign 0.0000
Participating Interest
Participation exemption - Foreign exchange gain/
losses on a UAE or foreign Participating Interest 0.0000
Participation exemption - Impairment gain/losses on a
UAE or foreign Participating Interest 0.0000
Foreign Permanent Establishment income and
expenditure applicable to Resident Persons 0.0000
Aircraft / shipping income applicable to Non - Resident
Persons 0.0000
Adjustments for Exempt income 0.0000
Section: Adjustments for Reliefs
Amount
Description
(AED)
Transfers within a Qualifying Group 0.0000
Amount
Description
(AED)
Business restructuring relief 0.0000
Adjustments for Reliefs 0.0000
General Interest Deduction Limitation under Article 30 0.0000
Section: Adjustment for Non-Deductible Expenditure
Non-deductible interest expense - Specific interest
deduction limitation 0.0000
Non-deductible entertainment expenses 0.0000
Donations, grants, or gifts made to an entity that is not
a Qualifying Public Benefit Entity 0.0000
Fines and penalties, other than amounts awarded as
compensation for damages or breach of contract. 0.0000
Dividends, profit distributions or benefits of a similar
nature paid to an owner of the Taxable Person 0.0000
Amounts withdrawn from the Business under Clause 5
of Article 33 0.0000
Any other non-deductible expenses 0.0000
Adjustments for deductions 0.0000
General Interest Deduction Limitation under Article 30 0.0000
Section: Adjustment for Related Party and Connected Persons
Amount
Description
(AED)
Adjustments for Related Party Transactions 0.0000
Adjustment for Connected Persons Transactions 0.0000
Adjustments for Related Party and Connected Persons
Transactions. 0.0000
Section: Taxable Income
Amount
Description
(AED)
Taxable Income 0.0000
Section: Total Tax Calculations
Amount
Description
(AED)
Corporate Tax on income subject to tax at 0% 0.0000
Corporate Tax on income subject to tax at 9% 0.0000
Tax Payable 0.0000
Foreign Tax Credit 0.0000
Corporate Tax Payable 0.0000
Step 5: Additional Information
Section: Information Request
Document Name Proforma Invoice - De-Registration
Description
Document uploaded Yes
This is the only transaction for the
Reason for non-provision (if any) period ended 21 May 2024
Step 6: Declaration
Section Declaration:
First Name in English
Last Name in English
First Name in Arabic
Last Name in Arabic
Date of submission ###
Prepared By Approved By
List of Status as per UAE CT
No Qualified Free Zone Person Test
1 Substance test
2 Number of employees
Article 20 of CT law no 47 of 2022
Chapter Six – Calculating Taxable Income Article 20 – General Rules for Determining Taxable Income 1. The Taxable Income
Taxable Person shall be determined separately, on the basis of adequate, standalone financial statements prepared for financi
reporting purposes in accordance with accounting standards accepted in the State.
2. The Taxable Income for a Tax Period shall be the Accounting Income for that period, and to the extent applicable, adjusted f
following: a. Any unrealised gain or loss under Clause 3 of this Article. b. Exempt Income as specified in Chapter Seven of this
Law. c. Reliefs as specified in Chapter Eight of this Decree-Law. d. Deductions as specified in Chapter Nine of this Decree-Law
Transactions with Related Parties and Connected Persons as specified in Chapter Ten of this Decree-Law. f. Tax Loss relief as
specified in Chapter Eleven of this Decree-Law. g. Any incentives or special reliefs for a Qualifying Business Activity as specifie
decision issued by the Cabinet at the suggestion of the Minister. h. Any income or expenditure that has not otherwise been take
account in determining the Taxable Income under the provisions of this Decree-Law as may be specified in a decision issued b
Cabinet at the suggestion of the Minister. i. Any other adjustments as may be specified by the Minister.
3. For the purposes of calculating the Taxable Income for the relevant Tax Period, and subject to any conditions that the Minist
prescribe, a Taxable Person that prepares financial statements on an accrual basis may elect to take into account gains and lo
a realisation basis in relation to: a. all assets and liabilities that are subject to fair value or impairment accounting under the app
accounting standards; or b. all assets and liabilities held on capital account at the end of a Tax Period, whilst taking into accoun
unrealised gain or loss that arises in connection with assets and liabilities held on revenue account at the end of that period.
4. For the purposes of paragraph (b) of Clause 3 of this Article: a. “Assets held on capital account” refers to assets that the Per
not trade, assets that are eligible for depreciation, or assets treated under applicable accounting standards as property, plant a
equipment, investment property, intangible assets, or other non-current assets.
b. “Liabilities held on capital account” refers to liabilities, the incurring of which does not give rise to deductible expenditure und
Chapter Nine of this Decree Law, or liabilities treated under applicable accounting standards as non current liabilities. c. “Asset
liabilities held on revenue account” refers to assets and liabilities other than those held on a capital account. d. An “unrealised g
loss” includes an unrealised foreign exchange gain or loss.
5. Notwithstanding Clauses 1 and 3 of this Article, the Minister may prescribe any of the following for the purposes of this Decre
a. The circumstances and conditions under which a Person may prepare financial statements using the cash basis of accountin
Any adjustments to the accounting standards to be applied for the purposes of determining the Taxable Income for a Tax Perio
different basis for determining the Taxable Income of a Qualifying Business Activity.
6. Subject to any conditions prescribed under Clause 5 of this Article, a Taxable Person can make an application to the Authori
change its method of accounting from cash basis to accrual basis from the commencement of the Tax Period in which the appl
made or from the commencement of a future Tax Period.
7. In the case of any conflict between the provisions of this Decree-Law and the applicable accounting standards, the provision
Decree-Law shall prevail to that extent.
