The FTA has updated the format of the UAE Corporate Tax return,
which now has a specific portion on Transfer Pricing (TP) related
disclosure. This article gives an overview and highlights critical
items in the said portion.
The Origin
The requirement of the TP disclosure form was initially
announced in the Federal Decree-Law No. 47 of 2022. Article 56 of
the said Decree provides for furnishing along with the tax return
'disclosure containing information regarding the Taxable
Person's transactions and arrangements with its Related Parties
and Connected Persons in the form prescribed by the
Authority.'
The Blueprint
Subsequently, in October 2023, the FTA issued a comprehensive TP
guide, including a blueprint of the TP disclosure form. The guide
indicated that the key contents of the TP disclosure form would
include the nature of controlled transactions, value of controlled
transactions, details of related parties, TP methods, etc. The
timeline for furnishing
