Transfer Pricing Advisory Services in UAE
Transfer pricing refers to the pricing of goods, services, or intangible assets exchanged between related parties, such as affiliates or subsidiaries of a multinational company, located in different countries. As per the regulations of the United Arab Emirates (UAE), transfer pricing compliance is required for companies engaged in cross-border transactions with related parties.
HLB HAMT offers transfer pricing services to assist companies in complying with the local regulations and ensuring that their transfer pricing practices are in line with international standards. These services typically include:
Transfer Pricing Documentation:
Advisory firms can assist companies in preparing comprehensive transfer pricing documentation, which includes preparing local and master files as required by the UAE regulations. This documentation typically includes detailed analyses of the company’s intercompany transactions, benchmarking studies, economic analyses, and other relevant documentation to support the arm’s length nature of the transfer pricing.
Transfer Pricing Planning and Strategy:
Advisory firms can help companies develop transfer pricing strategies that are aligned with their overall business objectives while complying with the UAE transfer pricing regulations. This includes analyzing the company’s existing transfer pricing practices, identifying potential risks and opportunities, and providing recommendations for optimizing the company’s transfer pricing arrangements.
Transfer Pricing Compliance:
Advisory firms can assist companies in preparing and filing transfer pricing disclosures and related compliance forms with the UAE tax authorities. This includes preparing transfer pricing reports, responding to inquiries from tax authorities, and assisting with any transfer pricing audits or investigations.
Advance Pricing Agreements (APAs):
Advisory firms can assist companies in obtaining APAs from the UAE tax authorities as per Article 59 of the UAE Corporate Tax Federal Decree Law no. 47 of 2022, which are formal agreements that provide certainty on the company’s transfer pricing arrangements for a specified period. This can help mitigate transfer pricing disputes and provide tax certainty for the company’s cross-border transactions.
Transfer Pricing Dispute Resolution:
Advisory firms can provide support in case of transfer pricing disputes with the UAE tax authorities, including conducting transfer pricing audits, preparing defense strategies, and representing the company in negotiations or litigation.
Transfer Pricing Training and Education:
Training and education to companies on transfer pricing regulations, best practices, and updates in the UAE will help companies stay compliant and up-to-date with the latest developments.
It’s important to note that transfer pricing regulations and requirements can vary by country, and HLB HAMT provides professional advice from qualified transfer pricing experts who are knowledgeable about the local regulations in the UAE.
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