A transfer pricing regulation will be part of UAE Corporate Tax Law, containing various transfer pricing methods, extensive annual documentation, and hefty penalties for non-compliance. UAE businesses will need to comply with transfer pricing rules and documentation requirements set with reference to the OECD Transfer Pricing Guidelines.
Value Added Tax is an indirect, transaction-based tax that is levied at every stage of the supply chain. Businesses whose taxable supplies and imports from abroad exceed the mandatory registration threshold of AED 375,000 are required to register. The taxable person must submit VAT returns to the Federal Tax Authority on a periodic basis (every three months or a shorter period if the authority so decides) within 28 days from the end of the tax period in accordance with the procedures specified in the tax legislation.