The UAE Ministry of Finance has introduced new transfer pricing documentation requirements to enhance transparency and fairness in the tax system. These regulations, outlined in Ministerial Decision No (97) of 2023, aim to ensure that transactions between related parties and connected persons are conducted on an arm’s length basis.

Key Requirements and Objectives: The decision sets specific criteria for taxpayers to maintain transfer pricing documentation, including the preparation of a master file and a local file. The aim is to establish clear guidelines, reduce compliance burdens, and promote a business-friendly environment while enhancing the UAE’s competitiveness on the global stage.

How Our Firm Can Assist: At Canzaps Middle East, we specialize in comprehensive transfer pricing services. Our expert team can help with transfer pricing documentation, compliance reviews, policy development, and dispute resolution, ensuring your business meets its obligations and optimizes tax positions.

Conclusion: The UAE’s new transfer pricing documentation requirements, as outlined in Ministerial Decision No (97) of 2023, are designed to enhance transparency and fairness in the tax system. At Canzaps Middle East, we provide tailored transfer pricing services to assist businesses in meeting their compliance needs effectively.