The ICAI Dubai Chapter recently organized a highly successful event titled 'Navigating UAE Corporate Tax Subtle Nuances' on June 1. This gathering offered a detailed examination of the latest corporate tax rules in the UAE, a vital subject as the country advances its financial framework. Grasping these updates is critical for companies aiming to uphold compliance and capitalize on possible advantages. The event commenced with opening remarks from the chief guest, Paras Shahdadpuri, Chairman of the Nikai Group, setting an optimistic atmosphere for the day's discourse. A distinguished panel of speakers and experts shared their profound insights on diverse facets of the UAE's corporate tax legislation. Prateek Bothra, Vice President — Taxation at Gulf Islamic Investment, delivered a thorough briefing on registration and adherence to corporate tax laws. Basel Arafe, Engagement Tax Partner at Deloitte, elaborated on the intricate elements of corporate tax accounting and its subtleties. Manu Palerichal, CEO and Founding Partner of Emirates Chartered Accountants Group, shed light on 'Tax-Free Treasures: Discover What’s Truly Free in Free Zones'. Shiraz Khan, Partner and Head of Taxation at Al Tamimi and Co, outlined the procedures and mechanisms in corporate tax to address discrepancies and conflicts. Sandeep Kumar, Associate Partner at WTS Dhruva, delved into the intricate concepts of POEM, PE, and non-residents under corporate tax in an engaging and interactive session with ICAI members. The event adopted a comprehensive strategy to tackle the nuances of corporate tax in the UAE, furnishing participants with a thorough comprehension of the recent legal amendments and their ramifications across different industries. It also presented viable tactics for efficient tax administration, crucial for business executives, financial experts, and tax consultants. Attendees had the chance to interact with the speakers, acquiring valuable knowledge and responses to urgent queries about the dynamic tax scenario in the UAE. The Q&A session, facilitated by Vice-Chairman Jai Prakash Agarwal, was pivotal in arming members with the expertise and resources needed to confidently traverse the intricacies of the new tax system. ICAI Dubai Chapter Chairman CA Rajesh Somani and Secretary CA Rishi Chawla extended their thanks to the speakers and participants for contributing to the event's substantial success. Their guidance continues to nurture a robust network of professionals dedicated to excellence and staying at the forefront of the ever-evolving UAE fiscal landscape.
Text: Lara Palmer
14.06.2024
Experts Discuss Corporate Tax Regulations and Compliance at ICAI Dubai's Recent Event