Nafa Corporate Tax UAE Decoded: Unveiling the future of businesses in Abu Dhabi – News

The New Age Finance & Accounting Summit (Nafa) is proud to announce the highly anticipated Corporate Tax UAE Decoded event, set to take place on August 26, 2023, in the vibrant city of Abu Dhabi. Building on the resounding success of their previous event in Dubai, this conference promises to provide unparalleled insights and expert guidance on the game-changing tax landscape that is fuelling economic growth and shaping the future of businesses in the UAE.

Historic transformation of the tax landscape

On January 31, 2022, the tax landscape of the region underwent a significant transformation with the groundbreaking announcement by the UAE Ministry of Finance (MoF) of a new federal corporate tax (CT) system. Effective from financial years commencing on or after June 1, 2023, this system introduced the lowest corporate income tax rate in the GCC region, with a standard rate of just 9 per cent, excluding Bahrain.

The UAE CT regime has been thoughtfully designed to incorporate global best practices while minimising the compliance burden on businesses. At Nafa Corporate Tax UAE, participants will gain a comprehensive understanding of the impact of introducing a corporate tax on business profits and learn how to navigate its requirements with ease. This event is an unparalleled opportunity for businesses to stay ahead of the curve and ensure a tax-efficient future in the UAE.

“In my role as Chairman of the ICAI Abu Dhabi Chapter, I am thrilled to announce our partnership with Khaleej Times for the ‘Corporate Tax Decoded’ event. This collaboration aims to promote knowledge-sharing among professionals and business leaders, shedding light on crucial aspects of corporate tax, such as recent amendments, implementation strategies, and compliance measures. Our goal is to unite business leaders, tax experts, and financial professionals in a dynamic setting that encourages interactive discussions and networking opportunities. We firmly believe that this event will provide attendees with valuable insights, empowering them to effectively navigate corporate taxation in the UAE,” said John George, ICAI Abu Dhabi chapter.

Expertly curated agenda

The agenda for Nafa Corporate Tax UAE Decoded covers a wide array of crucial topics, including the Importance and implications of corporate tax implementation in the UAE, Corporate Tax – An Inevitable Reality, Operational Readiness within the industry, Basics of Taxation, Free Zones – Significance and Impact of Corporate Tax, International Tax – Impact and Opportunities, Understanding the Compliance requirements of Corporate TAX, Deduction under UAE Corporate Tax and Thin Capitalization Rules, Transfer Pricing & Significance for Corporates, Importance of Upskilling, Exemptions, deductions, and computation mechanism of Corporate Tax.

“We are witnessing a historic moment in the UAE’s business landscape,” said Nilesh Devadia, Director of Business Development, at Khaleej Times. “Nafa-Corporate Tax Decoded aims to empower organisations with the knowledge and tools needed to navigate this new tax landscape effectively. We believe that understanding the implications of corporate tax and proactively adapting to these changes is key to a successful and tax-efficient future in the UAE.”