This Tax Sharing Agreement Template is designed for use in the United Arab Emirates following the introduction of Corporate Tax through Federal Decree-Law No. 47 of 2022. The document becomes particularly relevant for corporate groups seeking to establish clear arrangements for sharing tax liabilities, credits, and compliance obligations among group members. It addresses key aspects of the UAE's tax regime, including considerations for both mainland and free zone entities, and incorporates provisions for Corporate Tax and VAT implications. The template is structured to help groups maintain tax efficiency while ensuring compliance with UAE tax laws and regulations, making it essential for businesses operating through multiple entities or in various free zones across the UAE.
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Key Requirements PROMPT example:
Tax Sharing Agreement Template
I need a Tax Sharing Agreement Template for a UAE-based holding company with five subsidiaries, including two free zone entities, to implement by January 2025 when we consolidate our group tax structure.
1. Parties: Identification of all parties to the agreement including their full legal names, registration numbers, and addresses
2. Background: Context of the agreement, relationship between parties, and purpose of the tax sharing arrangement
3. Definitions and Interpretation: Detailed definitions of technical terms, tax concepts, and interpretation rules
4. Tax Group Structure: Description of the corporate group structure and tax consolidation arrangement
5. Tax Sharing Principles: Core principles governing the allocation of tax liabilities and benefits
6. Calculation of Tax Contributions: Methodology for calculating each party's share of tax liability
7. Payment Terms and Procedures: Timing and method of tax payments, including interim payments and final settlements
8. Record Keeping and Information Sharing: Requirements for maintaining tax records and sharing relevant information
9. Tax Returns and Compliance: Responsibilities for preparing and filing tax returns and ensuring compliance
10. Dispute Resolution: Procedures for resolving disputes related to tax calculations or payments
11. Term and Termination: Duration of the agreement and circumstances for termination
12. General Provisions: Standard legal provisions including governing law, notices, and amendments
1. Free Zone Provisions: Special provisions for dealing with free zone entities and their specific tax treatment
2. International Tax Considerations: Provisions dealing with international tax implications when foreign entities are involved
3. VAT Specific Arrangements: Specific arrangements for sharing VAT liabilities and credits if relevant
4. Transfer Pricing Provisions: Specific provisions for handling transfer pricing adjustments and documentation
5. Tax Benefits Allocation: Methodology for sharing tax benefits, credits, and incentives
6. Exit Provisions: Detailed procedures for handling exit of group members from the tax sharing arrangement
7. Advance Rulings and Determinations: Procedures for handling tax authority rulings and determinations
1. Schedule 1 - Tax Allocation Formula: Detailed formula and methodology for calculating tax allocations
2. Schedule 2 - Payment Procedures: Detailed procedures for making tax payments and adjustments
3. Schedule 3 - Information Requirements: List of required information and documents to be shared between parties
4. Schedule 4 - Calculation Examples: Examples illustrating the application of the tax sharing calculations
5. Schedule 5 - Group Structure Chart: Diagram showing the corporate structure and tax consolidation arrangement
6. Appendix A - Compliance Calendar: Timeline of key tax compliance dates and deadlines
7. Appendix B - Contact Details: List of key contacts and their roles in tax administration
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Retail and Consumer
Real Estate and Construction
Technology and Communications
Energy and Resources
Healthcare and Pharmaceuticals
Professional Services
Logistics and Transportation
Hospitality and Tourism
Relevant Teams
Finance
Tax
Legal
Treasury
Compliance
Corporate Governance
Risk Management
Accounting
Internal Audit
Corporate Development
Relevant Roles
Chief Financial Officer
Tax Director
Financial Controller
Group Finance Manager
Tax Manager
Corporate Treasurer
Legal Counsel
Company Secretary
Finance Director
Head of Compliance
Head of Tax
Group Accountant
Financial Planning Manager
Risk Manager
Corporate Finance Manager
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