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UAE FTA Explains Application of Valuation Method under Transitional Rules for Disposal of Qualifying Immovable Property by Real Estate Developers

|Approved Changes|United Arab Emirates
United Arab Emirates

The UAE Federal Tax Authority (FTA) has issued Corporate Tax Public Clarification CTP009 on the application of the valuation method under the transitional rules as set out in Ministerial Decision No. 120 of 2023 on the disposal of qualifying immovable property by a real estate developer that is a taxable person. The transitional rules essentially provide that where gains or losses for certain…

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