COURSE OVERVIEW

 This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using “MS-Excel” application. 

This course is designed to provide participants with a detailed and up-to-date overview of Corporate Income Tax/IFRS Accounting. It covers the objectives and scope of UAE corporate tax, the role of the federal tax authority (FTA) and key terms and concepts in UAE corporate tax law; the purpose of IFRS in financial reporting, IFRS versus local GAAP in UAE including taxable income and adjustments from IFRS; the corporate structures and group taxation under UAE law; the intra-group transactions and adjustments, objective of general purpose financial reporting and the tax base computation; and the accounting profit, tax depreciation versus accounting depreciation and corporate tax rates and reliefs. 

 

Further, the course will also discuss the IFRS 15 – revenue from contracts with customers, IFRS 9 – financial instruments, deferred tax assets and liabilities and reporting requirements under UAE corporate tax; and the allowable versus non-allowable expenses, IFRS 16 – leases and tax implications, IFRS 2 – share-based payments, IFRS 13 – fair value measurement, business restructuring and tax consequences. 

 

 

During this interactive course, participants will learn the IFRS-compliant financial statements, tax return preparation, tax accounting under IFRS (IAS 12) and free zones and qualifying income; the tax audits and FTA reviews, IFRS 10 and 12 – consolidation and disclosures and advanced tax planning in the UAE; the IFRS 10-12 application to tax structuring and tax risk management and controls; and the ethical considerations in t    ax and reporting, IFRS code of ethics, IFRS reporting and corporate tax filing.