CESTAT allows SAD Refund based on TR-6 Challans to Prove Duty Incidence Borne by Importer

The United Arab Emirates (UAE) has provided specific guidelines regarding the application of its new corporate tax law to investors in Real Estate Investment Trusts (REITs). According to the clarified regulations, investors in REITs will be subject to corporate tax on 80% of the income they receive from these property investments. This clarification offers essential certainty to REITs and their investors, clearly outlining the tax implications for this significant segment of the real estate investment landscape. By specifying the portion of income that will be taxed, the UAE aims to promote transparency and facilitate well-informed investment decisions within the REIT sector.