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With the introduction of corporate tax in the UAE from 1 June 2023, one of the fastest growing business and investment hubs in the world will be formalized, accelerating the country’s strategic development and transformation.
According to the UAE Federal Decree No. 47 of 2022 (Corporate Tax Law) on the taxation of companies and businesses in the United Arab Emirates, businesses will start paying UAE corporate tax for their first financial year commencing on 1 June 2023.
read more: UAE to implement corporate tax from June 1: All you need to know
United Arab Emirates Tax authorities An FAQ has also been posted, detailing some frequently asked questions.
read more: UAE Corporate Tax: Frequently Asked Questions
With the tailwind of the new tax system, Indian Institute of Company Secretaries (ICSI) will organize a special corporate tax conference on June 3, 2023 in Dubai, UAE on UAE Corporate Tax – A New Paradigm for Transparency and Sustainability.
The meeting will outline the proposed corporate tax and highlight the role of governance professionals in implementing the transparency and financial discipline it would bring.
Insightful deliberations through topic-based group discussions will explore the processes by which the country’s corporate culture can be aligned with tax code provisions and meet international tax transparency standards.
A unique initiative of the Institute, the Corporate Tax Conference aims to develop future-proof company secretaries and help explore opportunities for cross-border corporate governance.
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