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A MORE GLOBAL CAREER April to December 2024

UAE Corporate Tax Focus on Key Matters & Important Updates
At CPA Australia, we know how important it is to be recognised for excellence in the accounting profession.
8 September 2024
th
That’s why we have signed a Mutual Recognition Agreement (MRA) with the Institute of Chartered Accountants
of India (ICAI) providing qualified members of ICAI a pathway to CPA membership where the designation
is recognised globally. 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:
Pathways to • Successfully completed ICAI all level tax landscape. Held at the prestigious presentations from a distinguished Demystifying Deductible vs. Non-
examinations
CPA Membership CPA subjects Hyatt Regency, Dubai Creek Heights lineup of speakers, each offering Deductible Expenses for a Smoother
to complete
• Practical work experience 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
• Have not gained membership through Global Strategy to discuss the latest developments in -Mr. Arun Saripalli, Partner at effectively.
another MRA or special member pathway corporate tax compliance, strategic PricewaterhouseCoopers, delivered
Submit an online application and Leadership considerations, and the practical an in-depth discussion on *Transfer The event concluded with an engaging
for membership assessment • Currently a member of good standing
Better Practice in challenges businesses must prepare Pricing Rules for Intangibles, guiding Q&A session where members had the
• Hold a university degree recognised by for. businesses through the complexities opportunity to interact directly with
Activate membership Governance and
CPA Australia or have at least 5 years of Accountability of international transactions and the the speakers, seeking clarification
work experience in professional accounting. 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
• High quality colour scan of the original identification document 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
Documents • Letter of good standing from ICAI of tax compliance. Zone Persons, helping businesses about legislative developments,
required • Original colour scans of an official transcript from ICAI 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
• Original colour scans of change of name documentation (if applicable). 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
Steps to apply 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.

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