In January 2022, the Ministry of Finance announced that it will introduce federal corporate tax (CT) on the net profits of businesses. The tax will become applicable either on 1 July 2023 or on 1 January 2024, depending on the financial year followed by the business. CT will be applied across all the emirates.
The introduction of Federal Corporate Tax in UAE aims to further strengthen the country's position as a world-leading hub for businesses and investment and accelerate the strategic objective towards development and transformation.
Next Big Thing! - Ai can help improve tax compliance by analysing large datasets to identify trends and patterns that may indicate potential tax issues. This enables businesses to proactively address compliance issues before they become major problems and reduce tax assessment risks which could be costly and time consuming.
Indirect tax regimes have led the way in digitalising tax compliance processes, such as e-invoicing requirements, real-time reporting, SAF-T, and much more. As digital tax compliance expands into wider corporate tax and transfer pricing areas, direct tax teams are using the experience of their indirect tax colleagues as they transform their tax processes.
Join us as CFOs, Heads of Finance and Accounting, Auditors, Financial Consultants, CIOs, CTOs & Heads of IT get together to discuss about complying with Tax & Compliance regulations, Future of Tax & Compliance with Ai, Automation & Tax Technology and how Technology and Innovation can ease the burden of Tax Compliance at TAXCOM Middle East Summit in Dubai, UAE on 30th April 2024.
