UAE Corporate tax

Optimising Efficiency

& Minimising Risks

August 23, 2023

Anantara Downtown Dubai

09:00am – 04:00pm

About

The UAE has recently introduced a groundbreaking corporate tax system, ushering in a new era for businesses operating in the country. As per the new corporate tax law, the government has started levying taxes at the standard rate of 9 per cent on companies' taxable profits exceeding Dh375, 000. The implementation of corporate tax represents a significant transformation of the UAE tax landscape as companies have so far enjoyed zero income tax on their profits.

To help businesses understand the best ways to develop sustainable processes around compliance and build a tax efficient financing structure, Gulf News organises an exclusive seminar on August 23, 2023. Here some of the UAE’s top tax advisors will take a deep dive into the UAE’s new corporate tax regime to provide finance professionals and business owners with a comprehensive understanding of corporate tax and equip them with the knowledge to navigate the evolving tax landscape. This seminar will help participants discover effective tax planning strategies to optimise their organisation’s tax position while ensuring full compliance with the new regulations.

Agenda

Session 1 - Corporate Tax: Critical planning points

Session 2 – Free Zone tax benefits – Do’s & Don’ts

Session 3 – Transfer pricing – are you ready?

Session 4 – Tax audits, accounting & records – the change of mindset

Session 5 – Future of Anti-abuse and tax planning

Session 6 – Panel Discussion

Key Highlights

This workshop will provide the participants with:

● An understanding of federal corporate tax regime
● Tips on corporate tax preparation
● Guidelines to comply with corporate tax
● Exclusions, exemptions, and impact of corporate tax
● How to ensure a smooth transition to operating within a corporate tax environment

Agenda

Session I
Corporate Tax 101

- General principles and basis of taxation
- Scope of Taxable persons
- Tax periods, rates and compliance
- Exempt incomes
- Small business relief

Session II
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

Session III
Transfer Pricing, International taxation, Tax Accounting and expense deductions

- Principles of double taxation
- Concept and methodology of Transfer Pricing, domestic transfer pricing
- Concept of Permanent establishments
- Allowable expenses, interest expenses
- Tax losses carry forward and set-off

Session IV
Administration, compliance and transition into corporate tax regime

Speakers

RAJIV THAKKAR
Audit Manager / Tax Consultant - Tax Gian

Mr. Rajiv Thakkar, ACA, B.Com., has been working with us since 2015 as an Audit Manager with Jitendra Chartered Accountants.
He carries with him a vast experience of 15 years in various fields like Audit, Accounts, Internal Audit, Tax Laws like VAT, Excise, Corporate Tax, and Compliance laws like AML, ESR, and UBO.
He is a Chartered Accountant and a member of the Institute of Chartered Accountants of India. He is a commerce graduate from Sardar Patel University, Gujarat, India. Before joining our group, he worked for 8 years with Manuxxx & co in Ahmedabad, Gujarat India. He provides training & development, and technical support to the client as well as to staff. His focus in the group would be on assuring quality improvement and value-added growth of the group.

Strengths:

Efficient communication
Knowledge of IFRS and UAE laws like Company law, VAT, Excise, Corporate Tax, AML, ESR, and UBO
Advisory to local and international clients
Tax Planning
Assistance in Corporate Restructuring
Successfully guided taxpayers to be compliant with the tax procedures law

GIRISH CHAND
Senior Partner – MCA Gulf

Heading the MCA Gulf Compliance practice covering Corporate Tax, VAT, ESR, AML, UBO across UAE, Bahrain, Oman and KSA.
Conducted various compliance seminars on Corporate Tax, VAT and ESR for large companies, professional bodies, industry groups and authorities.
TADAT Trained Tax Professional. TADAT (Tax Administration Diagnostic Assessment Tool) is a tool for Tax Administration evaluations under IMF Fiscal Affairs Department.
Regular Contributor to UAE newspapers and Radio Talk shows on Tax topics
Over 7 years of Consulting experience and over 25 years experience in Finance and Audit executive roles.
10 years plus finance leadership roles (incl CFO ENOC Retail) in the downstream Oil and Gas business (ENOC, EPPCO) covering Marketing, Retail and Trading.
Well versed in Board level dealings, JV structures (incl Chevron JV) and advisory role for Executive Management.

Faisal Ahmed
MD & CEO - AKW Consultants

Lokesh Gupta
Associate Director – Tax and Transfer Pricing, Nexdigm Consulting Limited (UAE)

Dr. Tirupathi Parthasarathy Anand (TP)
Deputy Director- EMBA, SP Jain School of Global Management

Syam Panayickal Prabhu
Founder & Managing Director, AURION FZE

Speakers

Pankaj S. Jain

CTA(U.K.), LL.B., A.C.A., M.Com

With more than 20 years’ extensive experience in India and Europe, Pankaj specializes in entire gamut of VAT/GST, indirect taxation, transfer pricing, tax controversy management & resolution and international taxation.
Pankaj has worked as National Head Taxation at Coca-Cola India and Tax Lead for Kohler ndia. At Coca-Cola, with over $1.5 Billion operations, Pankaj spearheaded the implementation of Goods & Services Tax (GST) across the 24 manufacturing plants and business places spread over 21 states across India. He has driven projects relating to GST, Financial Shared Service and SAP. He has worked extensively on advisory on UK/European tax with K.P.M.G. Belfast, Northern Ireland. Pankaj has also worked with Deloitte, PwC and Lakshmikumaran &a Sridharan.

Deepak Bansal

FCA, ACS, B Com

For over a decade, Deepak is a practicing chartered accountant and specialises in financial, taxation, secretarial, corporate advisory and compliance matters. With vast practical experience and nsights into diverse business practices, Deepak has been servicing many Indian and multinational clients. His area of expertise includes Advisory, tax litigation and compliance. Deepak handles diverse clients from a wide array of businesses which helps him gauge the intricacies of each business and an outlook for audit and tax scrutiny.
Deepak is a member of the Institute of Chartered Accountants of India & Institute of Company secretaries of India. He also holds a bachelor’s degree in commerce from the University of Delhi

Himanshu Garg

C.A., B.Com (H)

Himanshu possess vast experience of handling various matters in the field of corporate tax, transfer pricing, VAT and international taxation.
During his professional journey, Himanshu got a rich experience in advising renowned MNCs and Indian start-ups. Additionally, tax litigation is a key area where he has represented clients on complex tax matters including representation of cases being assessment, search, investigation to the appellate levels.
Previously, Himanshu has worked extensively on International tax matters with K.P.M.G. India. He has also worked with S.S. Kothari Mehta & Co. and Lodha & Co.
Himanshu is a Chartered Accountant (CA) with the ICAI also holds a Bachelor degree in Commerce from the University of Delhi, India.