Page 11 - ICAI Newsletter - 2nd Quarter (Low Res)

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01 July 2023 to 30 September 2023 Events RECAP Events RECAP 01 July 2023 to 30 September 2023

Accounting, Taxation and Sustainability Summit

29 July 2023
th

With an intent to explore the with the introduction of taxes in UAE was moderated by our past chairman
transformative phenomenon of such as how accounting provisions CA Abbas Ali Mirza, who is also an
tax accounting based on IFRS and would be dealt with for tax purposes, Author of 15 books on IFRS and
Environmental, Social and Governance impact of pillar 2 in the UAE once Chairman of the 21st session of ISAR/
(ESG) in the UAE, ICAI Dubai Chapter enacted, tax base to be used for assets UNCTAD at UN.
decided to organzie the Accounting, and liabilities and so on.
Taxation and Sustainability summit.
As we all know, UAE is an attractive Our next guest speaker Mr. Kabir
market for investment and businesses, Dhawan, Partner- Business Consulting
there is also a need for more and more with Grant Thornton UAE spoke
transparency and standardization. on strategies for Sustainibility. He
Thus IFRS and ESG play a vital role in stated that it was important in order
enhancing such trasparency. To talk to assess an organization’s business
on the same the committee brough practices and performance on various
in eminent speakers from the sector ethical and sustainability issues. He
along with a panel discussion to mentioned that in the UAE all PJSCs
provide some varied insights on the was mandated by Securities and
topic. Commodities Authority to submit an
annual sustainability report. Further,
Our guest speaker Mr. Basel Arafe- PJSCs are required to comply with
Partner with UAE Business tax at Global Reporting Initiative standards
Deloitte & Touche (M.E) LLP spoke on and related guidelines by DFM and
IAS 12- Tax accounting in IFRS. He took ADX.
the members through the provisions
of IAS 12 along with its significance The event also included a panel
in UAE due to the introduction of the discussion with all speakers, including
recent UAE Corporate tax. Mr. Arafe CA Rishi Aggarwal- Partner from
also discussed some critical areas of Premier Brains. The panel discussion

www.icaidubai.org 11

Issue from 01 April 2023 to 30 June 2023 (for private circulation only) Issue from 01 April 2023 to 30 June 2023 (for private circulation only)