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Virtuzone, UAE’s leading company formation specialist and award-winning corporate services provider, has launched TaxGPT, the world’s first AI-driven corporate tax assistant, designed to help UAE businesses navigate the unfamiliarity of the upcoming corporate tax laws processes and regulations once it comes into force on June 1, 2023.
TaxGPT is built on the artificial intelligence model of Generative Pre-trained Transformer 4 (GPT-4), an advanced language model developed by OpenAI, an American artificial intelligence research laboratory, and has been trained to provide immediate, specific and complete answers to questions related to the new corporate tax law. , based on online publications issued by the Ministry of Finance and the Federal Tax Office, the two official sources of information on corporate taxation.
TaxGPT is also able to learn over time, allowing it to provide up-to-date answers to corporate tax-related questions as Treasury and FTA announce updates and changes to legislation.
By harnessing the power of AI technology, Virtuzone aims to provide entrepreneurs and businesses with the knowledge they need to smoothly transition and adapt to the UAE’s new tax laws, and ensure the smooth continuity of their business operations.
George Hojeige, CEO of Virtuzone, Said: “Using innovation to improve the experience and journey of entrepreneurs and businesses has always been one of the core pillars of our organizational values. As we continue to seek to add value to the services we provide to our customers and help advance the business setup sector, we will relentlessly Explore ways to integrate next-generation technologies, such as artificial intelligence, into our tools and processes, and contribute to elevating the state of entrepreneurship across the country.”
John Casey, General Manager, Virtuzone Accounting & Tax, said: “TaxGPT is just one of the tools we have created to make it easier for entrepreneurs and businesses to navigate the new tax law and the country’s dynamic business environment. We understand that the new tax regime may seem like uncharted territory for many businesses, and this is That’s why we’re here to provide expert guidance and assistance.”
TaxGPT is the second AI-assisted tool launched by Virtuzone, advancing the company’s portfolio of innovations. Prior to this, Virtuzone launched SWYFT Plan, an AI-driven business plan generator that allows users to generate business plans in less than 10 minutes. Additionally, SWYFT Plan, a business plan currently in beta testing phase, complies with the requirements set by free zone authorities and banks, making it easier for entrepreneurs to start a business and open a bank account in the UAE.
Virtuzone also previously launched a corporate tax calculator and a business setup cost calculator, built the iconic V-shaped headquarters in the metaverse, and partnered with Binance to become the first corporate service provider in the UAE to accept cryptocurrency payments via Binance Pay business.
About Jiajing
Virtugroup is a Dubai-based holding company formed by Virtuzone, which provides free zone and mainland company formation services; and Next Generation Equity, which offers a range of citizenship and residency by investment programmes. With over 150 staff speaking 30 languages, Virtuzone provides impartial advice on UAE company set-ups, while acting as an end-to-end solutions provider for a range of business services, including everything from visas and trade licenses to accounting and branding . As the UAE’s leading company formation specialist, Virtuzone removes the complexities of setting up a business, allowing entrepreneurs to focus on what’s really important to their company’s success.For more information, please visit www.vz.ae
For enquiries, please contact:
Damian Brennan
Marketing Director
Mercure
damian.brennan@vz.ae
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