UAE Clarifies Meaning of the Terms "Director" and "Officer" as Connected Persons

The UAE Federal Tax Authority has issued Corporate Tax Public Clarification CTP010, which clarifies the meaning of the terms "director" and "officer" as connected persons in the context of the rule limiting the deduction of payments to connected persons if not at market value, as well as the requirement to disclose transactions with connected persons as part of the tax return. The issue and summary are as follows. See the full public clarification for a detailed analysis.

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Issue

Corpo…