FEATURES OF THE INTRODUCTION OF CORPORATE TAX IN THE UNITED ARAB EMIRATES

This article provides information about corporate tax (hereinafter referred to as CIT) and its features, as well as the rules and procedure for application in the UAE. Certain aspects of the UAE's legislative framework for the introduction of the CPN regime are disclosed, a list of organizations that are exempt from paying CPN is provided, the meanings of the concepts of EBITDA "Earnings Before Interest, Taxes, Depreciation and Amortization" BEPS "Base Erosion and Profit Shifting" are highlighted and patterns, opportunities and consequences of their introduction are revealed. In recent years, the UAE has taken drastic measures to diversify the economy and create favorable conditions for attracting foreign investment and entrepreneurs. These changes were primarily aimed at combating the erosion of the tax base and transparency of the movement of profits of companies and individuals operating in the UAE. When forming the CPN, the UAE Government relied on the best international tax practices aimed at accelerating development.