Page 16 - ICAI Newsletter - 2nd Quarter 2024

Event

Issue from 01 July 2024 to 30 September 2024 (for private circulation only)

UAE Corporate Tax

Focus on Key Matters & Important Updates
th
8 September 2024
As the UAE continues to position itself the need for companies to remain and its effect on the taxable base.
as a global financial hub, the recent compliant and strategically prepared
event “UAE Corporate Tax - Focus on as the UAE cements its status as a -CA Manu Palerichal, CEO & Founding
Key Matters & Important Updates” leading global financial center. Partner of Emirates Chartered
provided businesses with essential Accountants Group, tackled the topic
insights into the evolving corporate Members were treated to insightful *Navigating Your First Tax Period:
tax landscape. Held at the prestigious presentations from a distinguished Demystifying Deductible vs. Non-
Hyatt Regency, Dubai Creek Heights lineup of speakers, each offering Deductible Expenses for a Smoother
Hotel, the event brought together valuable perspectives on different Filing Experience, offering actionable
leading experts and thought leaders aspects of the new tax regime: advice on handling corporate tax filings
to discuss the latest developments in -Mr. Arun Saripalli, Partner at effectively.
corporate tax compliance, strategic PricewaterhouseCoopers, delivered
considerations, and the practical an in-depth discussion on *Transfer The event concluded with an engaging
challenges businesses must prepare Pricing Rules for Intangibles, guiding Q&A session where members had the
for. businesses through the complexities opportunity to interact directly with
of international transactions and the the speakers, seeking clarification
With the introduction of corporate tax, compliance requirements surrounding on specific corporate tax issues and
the UAE has entered a new era in its intangibles. discussing strategies to ensure full
fiscal policies, marking a significant compliance while leveraging potential
shift for businesses of all sizes. The -Mr. Mohamed W Araji, Partner - MENA tax-saving opportunities.
event, which ran from 4:30 PM to Financial Services Tax at EY, presented
8:30 PM, was aimed at shedding light a Brief Introduction to Corporate Tax With the UAE’s tax environment
on the most pressing issues, helping and explained the Determination of evolving rapidly, this event underscored
organizations navigate the complexities the Taxable Base and Qualifying Free the importance of staying informed
of tax compliance. Zone Persons, helping businesses about legislative developments,
understand the core aspects of compliance requirements, and the
The event kicked off with an opening corporate tax and its implications for strategic tax planning needed for
address from the Chief Guest, Mr. free zone entities. businesses to thrive.
Saud Abu Alshawareb*, Executive
Vice President of Dubai Industrial -CA Janak B. Panjuani, Director at The UAE Corporate Tax event provided
City. He emphasized the importance Puthran Chartered Accountants, invaluable guidance, empowering
of understanding the new tax focused on Management organizations to successfully navigate
regulations and their potential impact Remuneration, providing clarity on how this new terrain while contributing to
on businesses in the UAE’s rapidly management compensation is viewed the UAE’s ongoing growth as a global
growing economy. He also underlined within the corporate tax framework business hub.

16 www.icaidubai.org

01 July 2024 to 30 September 2024