Transfer pricing refers to mechanism used for pricing of intra group transactions between associated companies. It is normal to sell goods and/or services between associated companies, whether located in same jurisdictions or different and being under common ownership or control.
UAE being one of low tax jurisdiction with VAT @ 5% and no corporate income tax, is the center of economic substance of many businesses as their operations being centralized here. During past two years there have been considerable progress regarding transfer pricing in UAE after its signing in May 2018 of Base Erosion on Profit Shifting (BEPS) framework of Organization for Economic Co-operation and Development (OECD).
We at VA, can provide consultancy to our clients to optimize transfer pricing mechanism for the group of companies by suggesting restructuring, if needed, and applying suitable transfer pricing method.
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