Corporate Tax

1.       To form a Tax Group, the parent company must hold what % of shareholding/voting rights of the subsidiary company?

• 95%

• 51%

• 75%

If a company is elected for small business relief, is it required to register?

• Yes

• No

Under SBR, does a company require to file full tax return?

• Yes

• No

  Under SBR, any corporate tax to be paid?

• Yes

• No

   Under SBR, can company carry forward tax losses and excess interest expenditure from previous tax periods?

• Yes

• No

   Income earned by an individual from bank deposits will not be subject to UAE Corporate Tax.

• True

• False

Answer explanation

Interest and other personal investment and savings income earned by an individual in their personal capacity should not be subject to UAE CT.

  Taxable Persons are required to file a Corporate Tax return for each Tax Period within 5 months from the end of the relevant period.

• True

• False

 

Mr. A is providing Consultancy services as a freelancer in UAE. Aggregate Turnover of Mr. A is AED 1.8 million.  Is he subject to corporate tax?

• Yes

• No

  A company registered in Uk is having a branch in Jebel Ali Freezone. Is this company eligible for zero percentage tax?

• Yes

• No

Which of the following are considered as a Permanent Establishment (PE) in the UAE according to the FTA's Commentary? 

•   An office where management and commercial decisions are made 

• A residential property owned by a non-resident individual in the UAE 

• A factory producing ceramic tiles in India