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Advance Price Agreement

Advance Price Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Advance Price Agreement

"I need an Advance Price Agreement to be drafted for my UAE-based technology company covering cross-border software licensing transactions with our subsidiaries in India and Singapore, with implementation planned for January 2025."

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Document background
The Advance Price Agreement (APA) is a crucial document for multinational enterprises operating in the UAE seeking certainty in their transfer pricing arrangements. Following the introduction of corporate tax and specific APA regulations in the UAE, this agreement becomes essential for companies engaging in significant intercompany transactions. It is particularly relevant given the UAE's position as a global business hub and its recent implementation of comprehensive transfer pricing rules. The document is used to establish agreed transfer pricing methodologies with the tax authority in advance, typically covering periods of 3-5 years. It includes detailed analysis of proposed pricing methods, functional and economic analyses, critical assumptions, and compliance requirements. The APA helps companies mitigate transfer pricing risks, avoid potential disputes with tax authorities, and ensure compliance with UAE Federal Tax Authority Decision No. 32 of 2021 and related regulations.
Suggested Sections

1. Parties: Identification of the taxpayer and the tax authority (UAE Federal Tax Authority)

2. Background: Context of the agreement, including brief description of the taxpayer's business and related party transactions

3. Definitions: Key terms used in the agreement, including technical transfer pricing terminology

4. Scope of the Agreement: Covered transactions, entities, and time period for which the APA will be effective

5. Transfer Pricing Methodology: Detailed description of the agreed transfer pricing method and how it will be applied

6. Critical Assumptions: Fundamental assumptions underlying the APA that, if breached, may lead to revision or cancellation

7. Annual Compliance Requirements: Requirements for annual reporting and documentation to demonstrate compliance

8. Term and Renewal: Duration of the APA and conditions for renewal

9. Revision and Cancellation: Circumstances under which the APA may be revised or terminated

10. Confidentiality: Provisions regarding the confidentiality of information shared during the APA process

11. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Rollback Provisions: Optional section for applying the APA methodology to previous tax years, used when there are open tax years that could benefit from the same treatment

2. Dispute Resolution: Detailed dispute resolution procedures, included when parties want specific procedures beyond standard legal remedies

3. Competent Authority Considerations: Required only for bilateral or multilateral APAs involving other tax jurisdictions

4. Force Majeure: Provisions for extraordinary circumstances, included when dealing with volatile industries or markets

5. Language: Required only when the agreement needs to be executed in multiple languages

Suggested Schedules

1. Schedule 1: Covered Transactions: Detailed list and description of all intercompany transactions covered by the APA

2. Schedule 2: Transfer Pricing Methodology Details: Technical details of the agreed methodology, including formulas, comparables, and adjustments

3. Schedule 3: Critical Assumptions Details: Comprehensive list of critical assumptions with specific thresholds and metrics

4. Schedule 4: Annual Compliance Report Template: Template and instructions for the required annual compliance reporting

5. Appendix A: Financial Projections: Projected financial results using the agreed methodology

6. Appendix B: Organizational Structure: Chart showing the relevant group entities and their relationships

7. Appendix C: Functional Analysis: Detailed analysis of functions, assets, and risks of the parties involved

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


























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Relevant Industries

Manufacturing

Technology

Financial Services

Pharmaceuticals

Automotive

Oil & Gas

Retail

E-commerce

Telecommunications

Professional Services

Consumer Goods

Media & Entertainment

Relevant Teams

Finance

Tax

Legal

Treasury

International Operations

Compliance

Corporate Development

Financial Planning & Analysis

Risk Management

Relevant Roles

Chief Financial Officer

Tax Director

Transfer Pricing Manager

International Tax Manager

Finance Director

Group Financial Controller

Tax Compliance Manager

Corporate Controller

Treasury Manager

Financial Planning Manager

Head of Tax

Chief Executive Officer

Legal Counsel

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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