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Member Articles

The Art Of Transfer Pricing - Another

Forthcoming Compliance Regulation

In The UAE

CA Manu Palerichal FCA, CMA UAE to maintain documents relating to Transfer Pricing
(Master File and Local File) in the format in consistent
with the OECD requirements and submit a disclosure
containing information regarding related / connected
A Greek philosopher quoted, “change is the only party transactions.
constant in life.” I feel that these words hold significant
importance when it comes to the economic and This will force all the UAE entities conducting transactions
business sectors of the UAE more than any other. As with their Associated Enterprises whether it is in the
marked in the recent times, there has been a constant Free Tarde Zone in the UAE or in foreign jurisdictions to
surge in the compliance responsibilities of a business be at Arm’s Length. This will result in restructuring the
operating from the UAE. terms of the current business transactions and even in
certain cases, organization restructuring itself.
The compliance reforms undertaken by the Government
of the UAE have caught the attention of international Currently, the UAE market has a shortage of experts
organizations like the EU, IMF, and OECD. And as in this field who can advise businessmen in the right
proud members of ICAI, we are “Ya Aeshu Suptaeshu direction for conducting their businesses in compliance
Jagruti’, who has the responsibility to update ourselves with the regulation. This gap in the availability of
with knowledge and be the torch bearers of these qualified professionals can only be filled by Chartered
Compliance reforms. Accountants with UAE experience by enhancing their
knowledge.
The proposed Corporate Tax regime clearly indicates
that businesses in the UAE will need to comply with
Transfer Pricing rules and documentation requirements
set forth in the OECD Transfer Pricing Guidelines.
Based on this, it is imperative for the Businesses in the

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