Tag: tax

Navigating UAE’s New Corporate Tax System: Why Partnering with Tax Experts is Essential

DGN
Navigating UAE’s New Corporate Tax System: Why Partnering with Tax Experts is Essential

UAE’s rollout of the tax system is part of its efforts to diversify its sources of revenue beyond oil receipts and create a more stable and sustainable revenue stream for the government. Additionally, the move reflects its wise leadership’s initiatives to align the country with the best global practices as the UAE speeds up its shift to a knowledge-based economy and continues to strengthen its non-oil sectors. The value-added tax (VAT) was officially introduced in 2018. This year, the corporate tax law will formally take effect at a headline rate…

Dubai-based tax expert expects exponential growth in demand for tax compliance and consulting services in UAE

DGN
“الظاهري جونز آند كلارك”: معدلات طلب عالية على خدمات الامتثال الضريبي في الامارات قبيل البدء بتطبيق ضريبة أرباح الشركات

Al Dhaheri Jones and Clark attributes demand increase to upcoming rollout of corporate tax  The demand for tax compliance and bookkeeping services in the UAE is poised to soar with the upcoming rollout of the corporate tax law in the country this year, an industry expert said recently. Dubai-based consultancy firm Al Dhaheri Jones and Clark (ADJC), a registered tax agent in the UAE as approved by the Federal Tax Authority (FTA), said a number of small and medium enterprises (SMEs) and large corporations have already begun seeking the support…

RAKEZ Hosts a Seminar on UAE Corporate Tax System for its Business Community

NewsVoir
راكز تنظم ندوة تعريفية لعملائها حول نظام ضريبة الشركات في دولة الإمارات

Ras Al Khaimah Economic Zone (RAKEZ) recently organised a community workshop to familiarise its business community with the UAE corporate tax system. The event brought together global and regional taxation, auditing, finance, compliance and advisory experts, who provided RAKEZ clients with in-depth details on how corporate tax will be implemented in the UAE, along with its anticipated impact on corporate profits. The workshop presented attendees with a platform to interact, ask questions, and clear their doubts, in an engaging discussion with subject matter experts to demonstrate how to prepare and comply…

UAE fintech firm Qashio and global accounting firm Crowe host roundtable on UAE Corporate Tax for F&B finance leaders

DGN
  كاشيو وكراو تستضيفان مائدة مستديرة تجمع قيادات الإدارات المالية في قطاع المأكولات والمشروبات

Dubai, UAE, 3 February, 2023 – UAE-headquartered fintech business, Qashio, in collaboration with Crowe, a global public accounting, consulting, and technology firm, recently hosted a roundtable to discuss the implications of the introduction of Corporate Tax for finance leaders from the F&B industry. The event highlighted how the implementation of Corporate Tax will affect the UAE restaurant industry and what restaurant operators can do to ensure their compliance. The event was attended by 50+ influential senior finance leaders from various restaurant groups and chains, including CFOs and finance managers of…

UAE fintech firm Qashio and global accounting firm Crowe host roundtable on UAE Corporate Tax for F&B finance leaders

DGN
UAE fintech firm Qashio and global accounting firm Crowe host roundtable on UAE Corporate Tax for F&B finance leaders

Dubai, UAE, 01 February, 2023 – UAE-headquartered fintech business, Qashio, in collaboration with Crowe, a global public accounting, consulting, and technology firm, recently hosted a roundtable to discuss the implications of the introduction of Corporate Tax for finance leaders from the F&B industry. The event highlighted how the implementation of Corporate Tax will affect the UAE restaurant industry and what restaurant operators can do to ensure their compliance. The event was attended by 50+ influential senior finance leaders from various restaurant groups and chains, including CFOs and finance managers of…

Tally Solutions brings experts together to deep dive into the upcoming UAE Corporate Tax

DGN
مئة خبير محاسبة وضريبة من 1200 شركة في الامارات يُشاركون في مؤتمر حول ضريبة الشركات

~Panel Discussion to spread awareness on Corporate Tax amongst entrepreneurs and SMEs~ Dubai, UAE, 30 January 2023: Tally Solutions, a leading business management software provider, hosted an engaging panel discussion entitled ‘UAE Corporate Tax: Connecting the Dots with the Experts’. Aimed to provide an opportunity to small and medium enterprises, corporates, and individuals about pre-requisites of the upcoming corporate tax, the event witnessed registrations from 1200+ businesses and was live streamed on Tally’s social media page with over 7000 people watching it. In addition, 100+ individuals attended the event in-person,…

Corporate Tax Regime: How to Fuel Business Success in UAE Via Compliance

DGN
Corporate Tax Regime: How to Fuel Business Success in UAE Via Compliance

OP-ED Column Dubai, UAE, January 2023: Starting June 1, 2023, the UAE’s federal corporate tax on business profits will officially take effect. Businesses whose financial year begins on or after this date will be levied a standard tax rate of 9% for taxable profits exceeding AED 375,000. This is the first time that the UAE is imposing a corporate tax, a move that signals to the world that it is leaving no stone unturned to effectively compete globally through, amongst others, diversification of its sources of income away from oil…

Al Dhaheri Jones & Clark sets up a new division to empower businesses in the UAE comply with Corporate Tax

DGN
Al Dhaheri Jones & Clark sets up a new division to empower businesses in the UAE comply with Corporate Tax

The UAE Ranks fourth in Tax Policy Category in World Competitiveness Yearbook among 63 economies Dubai, UAE, 14 January 2023: The World Competitiveness Yearbook 2022 Peer Group rankings positioned the UAE 4th in Tax Policy category. Published by Switzerland-based International Institute for Management Development (IMD), the World Competitiveness Yearbook assesses and ranks 63 economies around the world and bases its classification typically on four main indicators – economic performance, government efficiency, business efficiency and infrastructure. The UAE’s 4th place in Tax Policy denotes the country’s total contribution to GDP with…

UAE’s 652,885 private sector companies remain under-prepared for Corporate Tax

DGN
شركات القطاع الخاص في دولة الإمارات العربية المتحدة لا تزال غير مهيئة لضريبة الشركات

that comes into effect in June 2023 Businesses should start internal preparation – including book-keeping and accounting – that will be crucial for external audit and tax filing from next year News Highlights: The UAE has more than 665,246 active businesses registered with various licensing authorities including 45 free economic zones; The total number of registered active business licences in July 2022 amounted to 665,246, a 1.9 percent increase compared to 652,885 licences issued in December 2019, according to the UAE’s National Economic Register (NER); About 80-85 percent of the…

UAE private sector gets ready for the new Corporate Tax, officials at CS Events’ UAE Corporate Tax Forum, say

DGN
يستعد القطاع الخاص في دولة الإمارات المتحدة لتطبيق ضريبة الشركات الجديدة،يستعد القطاع الخاص في دولة الإمارات المتحدة لتطبيق ضريبة الشركات الجديدة،

As the private sector waits for the issuance of the UAE Federal Corporate Tax Law, Dubai-based CS Events has undertaken the initiative to organize back-to-back conferences to spread the awareness on Corporate Tax. The next edition of UAE Corporate Tax Forum will be held in February 2023 News Highlights: The UAE has more than 650,000 registered businesses. About 85 percent of them belong to Micro, Small and Medium Enterprises (MSME) categories; Majority of the businesses registered in the UAE do not maintain proper accounting system and paperwork, especially those who…