On 6 November 2023, the UAE Federal Tax Authority (FTA) published the Corporate Tax Guide on Accounting Standards and Interaction with Corporate Tax - CTGACS1. The purpose of the guide and who should read it are summarized as follows: --- Purpose of this guide This guide is designed to provide general guidance on the interaction of Accounting Standards with Corporate Tax. It provides readers with an overview of: Preparation of Financial Statements; The Cash Basis of Accounting; The realisation basis of accounting; Other adjustments under Article 20(2)(i) of the Corporate Tax Law; and Adjustments under the transitional rules. For more...