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Corporate tax rules

Corporate Tax Rules: Year-end adjustments and Transitional Provisions

Spectrum Auditing conducted webinar on “Corporate Tax Rules : Year-end adjustments and Transitional Provisions” on 19th January 2024 especially for accountants who have questions on how to handle the company books of accounts and things to keep in mind regarding Corporate Tax which is already in force in the UAE. You can watch the webinar recording video here. Meanwhile, you can also find more webinar videos on our Spectrum Auditing’s YouTube channel.


Following topics are discussed in this webinar as part of educating accountants to keep in mind the year end Corporate Tax rules applicable for businesses…


Corporate Tax Rules: Year-end adjustments and Transitional Provisions 
  • UAE Corporate Structure
  • Taxable Person (Who?)
  • Imposition of Tax and Tax Rate
  • Implementation Date of Corporate Tax
Specific provisions of CT relevant for books of accounts 
  • Exempt Income
  • Deductions – General Rule
  • Non Deductible Expenses
  • Interest Deduction Limitations Rules
  • Entertainment Expenditure – Deduction
  • Types of Related Party Transactions
CT Transitional Provisions and Adjustments in Books of Accounts 
  • Transition Rules
  • General Anti-Abusive Rules (GAAR)
  • Ministerial Decision no. 120 – Adjustments under Transition Rules
  • Adjustments under Transition Rules – Option 1 (Valuation Method)
  • Adjustments under Transition Rules – Option 2 (Time apportionment method)
CT Provisions Relevant for Year-End procedures 
  • Key action points before the commencement of the first Tax Period-Accounting
  • Key action points before the commencement of the first Tax Period-Record Keeping & Others
  • Key action points before the commencement of the first Tax Period-Assessing Future Actions
  • Registration
  • CT Returns
  • UAE Corporate Tax Computation Template
  • Accounting Record keeping & Auditing
  • Accounting Record keeping required – Corporate Tax
  • Ministerial Decision no. 114- Accounting Standards and Method of – Accounting for Corporate Tax Law
  • Chart of Accounts – Changes
  • Inventory Counting and Valuation
  • Safeguarding Assets – Fixed Asset Register Maintenance
  • The year-end closure
Q & A



Mr. Balaram Reddy, is the Managing Partner of Spectrum Auditing, Dubai, UAE. He is a Chartered Accountant with over 20 years of experience in the field of Audit, Taxation, Advisory and has worked in the Big4 consulting firms (Price Waterhouse Coopers, KPMG & Deloitte) and as well in the Industry. He has vast knowledge in IFRS, US GAAP, and performed financial reporting, Auditing for different industry sectors in the earlier stints.


Mr. Narendra Kottu is a Chartered Accountant (CA) and heads the CFO Services in Spectrum Auditing.


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You can watch the webinar video here:


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Spectrum Auditing guides you with the laws and regulations of UAE, covering most compliances applicable as well as enable you deal with any queries pertaining to Risk Advisory, Economic Substance Regulations (ESR),  Corporate Tax (CT), Transfer Pricing (TP), Ultimate Beneficiary Owner (UBO), Anti Money Laundering (AML), etc., after reviewing your business.


We provide a host of services. One of our key areas of expertise lies in audit services, where our skilled professionals ensure accuracy and compliance in financial reporting. We conduct thorough audits to help businesses maintain transparency and build trust among stakeholders. Our accounting services offer precise financial record-keeping, bookkeeping, and financial statement preparation. Our team of experienced accountants ensures that companies maintain reliable financial data, facilitating informed decision-making and meeting regulatory requirements. Our business advisory services offer strategic guidance, financial analysis, and feasibility studies to help companies identify growth opportunities, streamline operations, and make informed business decisions.


As a pioneer in the field of auditing, accounting, taxation, and advisory services, we keep track of all the changes taking place in the UAE concerning laws, rules, and regulations. We keep our clients informed and regularly share the same information through our blog section or social media handles. Call us today for any kind of assistance at +971 4 2699329 or email [email protected] to get all your queries addressed. Spectrum is your partner in your success.


With Spectrum Auditing’s expertise and tailored solutions, we empower businesses to navigate the complexities of corporate taxation, enabling them to thrive in the UAE’s dynamic business environment.


Disclaimer: This material and the information contained herein, prepared by SPECTRUM AUDITING, are intended for clients and professionals to provide updates and are not an exhaustive treatment of the subject. We are not, by means of this material, rendering any professional advice or services. It should not be solely relied upon as the basis for any decision which may affect you or your business. This update provides certain general information as well as specific information regarding SPECTRUM AUDITING. This update should not be regarded as comprehensive or sufficient for the purposes of any decision-making.


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Balaram Vuchidi

Managing Director
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[email protected]
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