Page 40 - AGM Report 2024

ANNUALREPORT 2023|24

Corporate Tax & Beyond Alongside Recent Updates with Q&A - 17 June 2023
th

ICAI Dubai Chapter conducted of the Free zones, which is one of added panelist Mr. Aashfaque Patel-
yet another corporate tax session the many debated topics at various Group Tax Director-Al Futtaim Group,
“Corporate Tax & Beyond”. The session corporate tax sessions. CA Nilesh gave which was moderated by ICAI Dubai
was to touch upon the recent updates a bird’s eye view of the conditions Chapter Chairman CA Harikishan
in the corporate tax laws along with for qualifying free zones along with Rankawat. The panelist added much
an opportunity to have experts answer clarity around excluded and qualifying value by answering a number of
queries of members on varied topics activities. CA Mithilesh Reddy spoke questions from the audience and
of the corporate tax law. The session of the provisions in the law around Mr. Aashfaque Patel talked on the
was held on the 17th June 2023 at transfer pricing and highlighted some importance of being prepared to deal
Movenpick Grand Al Bustan at al key aspects around its implementation with corporate tax. He provided some
Garhoud. The session had speakers CA and what were some of the many very critical key takeaways such as
Nilesh Asher- Senior Managing Director- challenges faced by various businesses. need for documentation, hiring expert
FTI Consulting to talk on the topic of CA Dinesh Jangid talked of IAS 12 and staff with hands on experience in
Corporate Tax Recent updates to the its application due to Income Taxes for dealing with taxes, and many more
laws, CA Mithilesh Reddy- Founder & corporates in UAE. He provided a brief to have businesses reduce the shock
CEO SBC Consulting LLC on the topic of the standards and its application in of shift from non tax to being a tax
of Transfer Pricing with its practical the books of accounts resulting in a jurisdiction.
implementation and challenges, CA possible deferred tax asset or liability
Dinesh Jangid-Partner-Accounting & situation. The speaker also made
Reporting Consulting and Head of references of the topic to various case
Middle East- Uniqus on the topic of study scenarios to explain the concept
Impact of corporate Tax beyond just the better. The speaker also talked of tax
Tax calculations. groups provisions and explained with
case studies.
While CA Nilesh Asher provided
detailed understanding of the various The session ended with a panel
updates along with the provisions discussion of all speakers with an

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