The UAE Federal Tax Authority has published a Corporate Tax Guide on Interest Deduction Limitation Rules - CTGIDL1. The guide explains, among other things, that the deduction of interest is subject to various corporate tax provisions, applied in the following order: 1. General principles of deductibility of expenditure In general, business expenditure is allowed as a deduction while calculating the taxable income of a taxable person if it is incurred wholly and exclusively for the purposes of the taxable person's business and is not capital in nature. Such expenses are deductible in the tax period in which they are incurred....