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Profit And Loss Transfer Agreement

Profit And Loss Transfer Agreement Template for United Arab Emirates

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Profit And Loss Transfer Agreement

I need a Profit and Loss Transfer Agreement between my Dubai mainland parent company and its wholly-owned manufacturing subsidiary, to be effective from January 1, 2025, with specific provisions for the new UAE corporate tax regime and quarterly profit transfers.

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Document background
The Profit and Loss Transfer Agreement is a crucial document for corporate groups operating in the UAE, particularly relevant following the introduction of the corporate tax regime. This agreement is typically implemented between parent companies and their subsidiaries to enable consolidated financial management and tax efficiency. It's essential for group structures where centralized profit and loss management is desired, and particularly relevant for companies operating across UAE mainland and free zones. The document must comply with UAE Federal Decree-Law No. 32 of 2021 (Commercial Companies Law) and Federal Decree-Law No. 47 of 2022 (Corporate Tax Law), addressing specific requirements for inter-company financial arrangements, transfer pricing considerations, and economic substance regulations.
Suggested Sections

1. Parties: Identification of the controlling and controlled companies, including their full legal names, registration details, and addresses

2. Background: Context of the agreement, including the corporate relationship between parties and the purpose of the profit/loss transfer arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including financial, technical, and legal terms

4. Duration and Effective Date: Specifies when the agreement begins and its term length, including any automatic renewal provisions

5. Profit Transfer Obligations: Core provisions regarding the transfer of profits, calculation methods, and timing

6. Loss Absorption Obligations: Provisions regarding the obligation to offset losses, including calculation methods and limitations

7. Payment Terms and Mechanics: Detailed procedures for executing profit transfers and loss compensation

8. Financial Statements and Accounting: Requirements for financial reporting, accounting standards, and audit provisions

9. Tax Provisions: Handling of tax matters, including corporate tax implications and compliance requirements

10. Termination: Conditions and procedures for terminating the agreement

11. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

Optional Sections

1. Change of Control: Provisions addressing changes in ownership or control of either party - include if parties anticipate potential ownership changes

2. Regulatory Compliance: Specific provisions for regulated entities or industries - include if either party operates in a regulated sector

3. Free Zone Provisions: Special provisions for companies operating in UAE free zones - include if either party is free zone entity

4. Inter-company Services: Provisions for additional services between parties - include if parties have other service arrangements

5. Employee Matters: Provisions regarding employee profit sharing or impacts - include if employee profit sharing exists

6. Intellectual Property: Provisions regarding IP rights and usage - include if IP transfers are relevant to profit calculation

Suggested Schedules

1. Corporate Structure Chart: Diagram showing relationship between parties and group structure

2. Profit Calculation Methodology: Detailed methodology for calculating transferable profits and losses

3. Payment Procedures: Step-by-step procedures for executing transfers and payments

4. Required Corporate Approvals: Copies of board/shareholder resolutions approving the agreement

5. Tax Registration Documents: Copies of tax registration certificates and relevant tax documentation

6. Financial Reporting Templates: Standard templates for required financial reporting under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





































Clauses




























Relevant Industries

Financial Services

Manufacturing

Real Estate and Construction

Retail and Consumer Goods

Technology and Communications

Energy and Resources

Healthcare

Professional Services

Logistics and Transportation

Hospitality and Tourism

Relevant Teams

Legal

Finance

Tax

Treasury

Corporate Secretariat

Compliance

Corporate Development

Financial Planning and Analysis

Accounting

Risk Management

Relevant Roles

Chief Financial Officer

Group Financial Controller

Tax Director

Legal Counsel

Corporate Finance Manager

Financial Planning Manager

Treasury Manager

Group Accountant

Corporate Secretary

Compliance Officer

Finance Director

Managing Director

Group CEO

Tax Manager

Corporate Restructuring Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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