Is Advance Pricing Agreement operative?
Recently, the UAE FTA released a Decision clarifying the future implementation of an APA’s framework in the UAE. Article 59 of the UAE CT Law provides that a person may make an application to the FTA in relation to the conclusion of an APA with respect to a transaction or arrangement proposed or entered into. The start date for receiving applications for APA and procedures related to the submission of applications and the issuance of agreements will be announced in the fourth quarter of 2024.