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Tax Sharing Agreement

Tax Sharing Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Tax Sharing Agreement

"I need a Tax Sharing Agreement under UAE law for our corporate group consisting of one parent company and three subsidiaries, including provisions for both corporate tax and VAT sharing, with international operations consideration as two subsidiaries are UK-based."

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Document background
The Tax Sharing Agreement is essential for corporate groups operating in the UAE who need to establish clear mechanisms for sharing tax liabilities and benefits among group entities. This document has gained particular significance following the UAE's introduction of corporate tax in 2023, alongside the existing VAT regime. The agreement provides a comprehensive framework for managing group tax obligations, including calculation methodologies, payment procedures, and compliance requirements. It is typically used when multiple entities within a corporate group need to coordinate their tax positions, share tax benefits, or allocate tax liabilities efficiently. The document must comply with UAE federal tax laws, including Federal Decree-Law No. 47 of 2022 (Corporate Tax Law) and Federal Decree-Law No. 8 of 2017 (VAT Law), while also considering specific requirements for entities operating in free zones or mainland UAE.
Suggested Sections

1. Parties: Identification and details of all parties entering into the tax sharing agreement

2. Background: Context of the agreement, including the group structure and purpose of the tax sharing arrangement

3. Definitions: Detailed definitions of terms used throughout the agreement, including tax-specific terminology

4. Scope of Agreement: Specifies which taxes are covered and the territorial scope of the arrangement

5. Tax Sharing Principles: Core principles governing how tax liabilities and benefits will be shared between parties

6. Calculation Methodology: Detailed formulas and methods for calculating tax allocations and contributions

7. Payment Terms: Timing and mechanics of tax-related payments between parties

8. Record Keeping and Information Sharing: Requirements for maintaining tax records and sharing relevant information

9. Compliance Obligations: Responsibilities for tax filings, payments, and regulatory compliance

10. Dispute Resolution: Procedures for resolving disagreements related to tax calculations or payments

11. Term and Termination: Duration of the agreement and circumstances for termination

12. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant jurisdiction

Optional Sections

1. International Tax Considerations: Include when parties have international operations or cross-border implications

2. VAT Specific Arrangements: Include when the agreement needs to address VAT sharing specifically

3. Economic Substance Requirements: Include when parties need to ensure compliance with UAE Economic Substance Regulations

4. Zakat Provisions: Include when any party is subject to Zakat requirements

5. Free Zone Specific Provisions: Include when any party operates within UAE free zones

6. Group Relief Provisions: Include when parties wish to address the sharing of tax losses or reliefs

7. Change in Law Provisions: Include detailed provisions for dealing with future changes in UAE tax laws

Suggested Schedules

1. Schedule 1 - Calculation Methodology: Detailed formulas and examples of tax allocation calculations

2. Schedule 2 - Payment Procedures: Specific procedures and timelines for making tax-related payments

3. Schedule 3 - Compliance Calendar: Key dates and deadlines for tax filings and payments

4. Schedule 4 - Information Requirements: List of required information and documents for tax calculations

5. Schedule 5 - Group Structure Chart: Diagram showing the relationship between participating entities

6. Appendix A - Tax Registration Details: Tax registration numbers and details for all participating entities

7. Appendix B - Authorized Representatives: List of authorized persons for tax-related decisions and communications

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
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Relevant Industries

Financial Services

Manufacturing

Real Estate

Professional Services

Retail and Consumer

Energy and Resources

Technology

Healthcare

Construction

Hospitality

Logistics and Transportation

Telecommunications

Relevant Teams

Finance

Legal

Tax

Treasury

Compliance

Corporate Secretariat

Risk Management

Financial Planning and Analysis

Internal Audit

Corporate Governance

Relevant Roles

Chief Financial Officer

Tax Director

Finance Manager

Group Financial Controller

Tax Manager

Corporate Counsel

Legal Director

Financial Planning Analyst

Treasury Manager

Compliance Officer

Group Accountant

Tax Consultant

Corporate Secretary

Finance Director

Risk Management Officer

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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