Corporate Tax UAE Decoded

In a groundbreaking move, the UAE Ministry of Finance has announced the implementation of Corporate Tax, revolutionizing the region's business landscape. Effective from June 1, 2023, the UAE is taking this stride to meet global standards and align with the OECD's Global Minimum Tax Proposal under Pillar 2.

On December 9, 2022, the UAE Federal Tax Authority (FTA) revealed the final version of the game-changing UAE Corporate Tax (CT) law. With Federal Decree Law No. 47 of 2022 as its foundation, this law builds upon earlier public consultations while introducing new provisions such as General Anti Abuse Rules, Small Business Relief, and an intricate definition of UAE sourced income.

Businesses operating in the UAE must brace themselves for these transformative changes. Companies need to assess the impact of these provisions, restructure their operations to optimize tax efficiency in the UAE, and establish policies for seamless related party transactions.

This forum will help the participants to understand the impact of introducing corporate tax on business profits and how to comply with its requirements.
Don't miss out on this momentous development reshaping the UAE's business landscape. Stay ahead of the curve and prepare your organization for a tax- efficient future in the UAE.

Agenda

8:30 – 9:15

Registration

9:15 – 9:25

Welcome Address by Khaleej Times

9:25 – 9:40

Opening Address: Govt body / Association

9:40 – 10:00

Keynote – Sponsored Presentation - Brief Overview of the Importance and Implications of Corporate Tax Implementation in the UAE.

An Overview of Federal Corporate Tax Regime Tips on Corporate Tax Preparation.
Guidelines to comply with Corporate Tax.
Exclusions, Exemptions, and Impact of Corporate Tax.

10:00-10:30

Panel 1 – Operational Readiness within the industry

Discussion on the Key Aspects and Challenges related to operational readiness in the industry Impact on UAE. Businesses and Economy.
Analysis of the effects on foreign investment, competitiveness, and economic growth in the UAE Sharing of industry-specific insights, experiences, and best practices.

10:30 – 11:00

Panel 2 - Free Zones, Anti-Abuse Rules and Tax Planning

Qualifying Free Zones
Qualifying Income, Non-Qualifying Income, and Disqualifying Income Anti-abuse Rules and Tax Planning under Free Zones.

11:00 – 11:30

Panel 3 – Understanding the UAE Law on Corporate TAX for Companies

Regulatory and Compliance Considerations
Insights from the legal expert on the regulatory requirements and compliance obligations related to operational readiness for corporate tax implementation.
Discussion on penalties for non-compliance and potential legal risks businesses should be aware of

11:30 – 11:50

Networking Break

11:50 – 12: 20

Panel 4 – Upskilling of Regional Tax Professionals, Training & certification

Highlighting the significance of upskilling tax professionals for successful corporate tax implementation
The evolving tax landscape and the need for continuous learning and development Training and certification programs available for tax professionals in the UAE
Emerging Trends and Technologies - exploration of the skills and competencies required to adapt to these technological advancements.

12:20 – 12:50

Panel 6 - Outlook and Recommendations

Panelists discuss the anticipated future challenges and developments related to operational readiness for corporate tax implementation.
Recommendations for businesses, industry stakeholders, and policymakers on improving operational readiness processes.

12:50 – 13:20

Panel 7: International Tax Planning and Avoidance

Discussion on the challenges and opportunities for tax planning and avoidance Examination of measures to prevent tax evasion and promote transparency.
Analysis of international tax standards and implications for UAE businesses

13:20 – 13:50

Conclusion and Closing Remarks – Followed by Lunch

Summary of key points discussed during the panel discussions Closing remarks by the moderator
End of the forum.