The United Arab Emirates (UAE) Corporate Tax (CT) Law includes specific provisions governing the taxability of both incorporated and unincorporated partnerships and their partners. Its application involves intricacies in terms of elections for tax treatments, the status of partners' salaries or payments for services provided, etc.
Considering this, our experts hosted a webinar to discuss and provide actionable insights into the following areas:
- Types of entities covered under Incorporated or Unincorporated Partnerships;
- Key features of Unincorporated Partnerships and the taxability options under UAE CT law;
- Tax implications under fiscally transparent vs fiscally opaque unincorporated partnerships, including relevant provisions of deductibility of various expenses;
- Tax implications in the hands of partners;
- Tax Treatment of a foreign partnerships;
- Compliance requirements for the partnerships and partners.
Speaker
Basel Arafe
Basel is a UAE Corporate Tax Partner with a commitment to assisting entities in navigating the challenges and complexities arising from the introduction of corporate taxation in the region and the constantly evolving tax landscape. He has over 15 years of experience in primarily serving Canadian-based multinational corporations with Canadian and US tax related matters. Previously, he was a Partner in the US Tax practice at the Deloitte Montreal office, with a focus on assisting clients with US domestic corporate tax issues, relating to both federal and state level compliance and planning to ensure integration with an overall global tax-effective strategy. His knowledge and expertise also expand to income tax accounting, FATCA related matters, income tax withholding, credits and incentives, US tax reform, and taxation of pass-through entities. While he has advised clients across a variety of industries and sectors, he has extensive experience with companies in the technology, media, and telecommunication sector. Basel has completed the Canadian Institute of Chartered Accountants (CICA) In-Depth Canadian Tax Course and is an admitted member of CPA Canada (i.e., Chartered Professionals Accountants of Canada) and the American Institute of Certified Public Accountants (AICPA).
