UAE introduces transfer pricing rules as part of Corporate Tax Law

The Corporate Tax Law will be effective from 1 June 2023 and includes several transfer pricing (TP) provisions that are broadly aligned with Organisation for Economic Co-operation and Development (OECD) principles.

Transactions and arrangements between related parties and connected persons should meet the arm’s-length standard.

Businesses will be required to maintain TP documentation and submit a disclosure form, subject to meeting certain conditions.

Free zone persons can continue to maintain th…