1. BACKGROUND AND SYNOPSIS UAE Corporate Tax Law is a significant development in the UAE taxation system. It has been implemented to establish a comprehensive framework for corporate taxation, ensuring fairness, transparency, and compliance in respect of Corporate Tax, and is applicable to various UAE business and activities. Under the UAE Corporate Tax Law, tax compliance and administration play a crucial role in ensuring that businesses fulfill their tax obligations, in an easy manner without too much hassle. The law encompasses various provisions and regulations that govern tax compliance procedures, reporting requirements, and administrative processes. 2. IMPORTANT DEFINITION OF TERMS AND EXPRESSIONS Some of the important terms and definitions, that are relevant in the present context are as under : - Taxable Income - Th.......