ICAI Dubai Chapter hosts successful event on ‘UAE Corporate Tax Nuances’

The event provided an in-depth exploration of the new corporate tax regulations in the UAE

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Published: Fri 14 Jun 2024, 4:42 PM

The ICAI Dubai Chapter recently hosted a highly successful event, ‘Navigating UAE Corporate Tax Subtle Nuances’ on June 1. This event provided an in-depth exploration of the new corporate tax regulations in the UAE, a crucial topic as the nation continues to evolve its fiscal landscape. Understanding these changes is essential for businesses to maintain compliance and leverage potential benefits.

The event was inaugurated by chief guest, Paras Shahdadpuri, chairman of the Nikai Group, whose opening remarks set a positive tone for the day’s discussions.

The event featured an impressive lineup of esteemed speakers and panelists, who shared their expert insights on various aspects of the UAE’s corporate tax laws. Prateek Bothra, vice president — taxation at Gulf Islamic Investment, provided a comprehensive overview of registration and compliance in corporate tax law. Basel Arafe, engagement tax partner at Deloitte, discussed the intricate details of corporate tax accounting and its nuances. Manu Palerichal, CEO and founding partner of Emirates Chartered Accountants Group, enlightened attendees on ‘Tax-Free Treasures: Discover What’s Truly Free in Free Zones’. Shiraz Khan, partner and head of taxation at Al Tamimi and Co, detailed the procedures and processes in corporate tax to resolve differences and disputes. Sandeep Kumar, associate partner at WTS Dhruva, explored the complex concepts of POEM, PE, and non-residents under corporate tax in a very interesting and interactive session with the ICAI members.

The event took a holistic approach to addressing the nuances of corporate tax in the UAE, providing attendees with a comprehensive understanding of the recent changes in the law and their implications across various sectors. It also offered practical strategies for effective tax management, essential for business leaders, financial professionals, and tax advisors alike.

Members had the opportunity to engage with the speakers, gaining valuable insights and answers to pressing questions about the evolving tax environment in the UAE. The Q&A session, led by vice-chairman Jai Prakash Agarwal, was instrumental in equipping members with the knowledge and tools necessary to navigate the complexities of the new tax regime confidently.

ICAI Dubai Chapter chairman CA Rajesh Somani and secretary CA Rishi Chawla expressed their gratitude to the speakers and attendees for making the event a significant success. Their leadership continues to foster a strong community of professionals committed to excellence and staying ahead in the ever-changing fiscal landscape of the UAE.

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