A detailed assessment is recommended to determine the impact of the amended regulations on Russian corporate groups, including whether operational restructuring is required to remain eligible for the current exemptions, whether it makes sense to consolidate taxpayers into a group, and what steps should be taken to secure adequate substance in the UAE. Companies unable to retain their tax-exempt status are recommended to undertake a review of their tax position to identify potential corporate income tax credit opportunities. Special attention should be given to free zone residents that have permanent establishments abroad or in the UAE.
B1 professionals will be glad to help you analyze the implications for companies registered in free zones and assess the impact of the new regulations on your business. For most companies, the fiscal year runs the same as the calendar year, so corporate income tax issues are looming large.