๐ง Listen to This Article
Dubai, UAE โ In a pivotal step toward implementing the UAEโs new corporate tax regime, the Ministry of Finance hosted the second session of its Corporate Tax Public Awareness Programme in Dubai, engaging over 600 business leaders, tax experts, and industry representatives. The session aimed to equip businesses with essential knowledge about the new tax law, fostering compliance and boosting Dubai’s competitive edge as a global financial hub.
Structured, Insightful Body Content:
- Overview of the Corporate Tax Public Awareness Programme
The Ministry of Finance, in collaboration with the Federal Tax Authority (FTA) and Dubai Chambers, successfully conducted its second corporate tax awareness session in Dubai, marking an essential moment for business leaders to better understand the UAEโs new corporate tax system. This session was attended by more than 600 professionals, including business owners, tax consultants, and corporate finance experts, reflecting the growing need for information on the upcoming tax changes. - Keynote Address: Aligning with Global Best Practices
His Excellency Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, opened the session with a keynote address emphasizing that the UAEโs Corporate Tax Law is designed based on international best practices. Al Khouri explained that the law would not only ensure tax transparency but also create additional revenue streams for the federal government to fund ambitious projects and sustain economic growth. โThe Corporate Tax Law plays a crucial role in helping the UAE achieve its strategic objectives,โ said Al Khouri. โBy educating business owners and entrepreneurs on the details of the new tax regime, we aim to ensure smooth compliance and support the continued growth of Dubaiโs dynamic business sector.โ - Corporate Tax Law: Key Features and Implications
During the session, the Ministry of Finance highlighted the core components of the new Corporate Tax Law, including:- Tax scope and rates
- Key definitions and exemptions
- Free zones and tax treatments
- Timelines and implementation procedures
- Panel Discussion: Expert Insights into Compliance and Tax Strategies
The session featured a panel discussion with tax experts from the Ministry of Finance, including Shabana Begum (Executive Director of Tax Policy Sector), Fatima Al Sheikh (Director of Tax Policies and Legislations), and others. The panelists delved into topics like taxable income calculation, tax exemptions, tax groupings, and transfer pricingโcritical issues that businesses must understand to navigate the new tax environment effectively. - Support for Business Growth and Investment in Dubai
H.E. Khalid Ali Al Bustani, Director General of the FTA, underscored that the introduction of corporate tax marks a significant milestone in strengthening the UAEโs economy. Al Bustani emphasized that the tax regime will align the UAE with global tax standards and promote foreign investment, enhancing the nationโs attractiveness as a business and financial hub. - Dubai Chambersโ Role in Facilitating Awareness and Growth
Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, expressed his enthusiasm about the collaboration with the Ministry of Finance, noting that the awareness sessions will be key to helping businesses adjust to the new tax framework. Lootah reiterated the commitment to providing continued guidance and support to the business community to foster innovation, growth, and sustainability in Dubaiโs economy. - Looking Ahead: More Sessions Across the UAE
As part of its ongoing efforts to ensure comprehensive understanding of the new corporate tax regime, the Ministry of Finance plans to hold more in-person and virtual public awareness sessions across all UAE emirates. These sessions aim to engage various sectors, providing further clarification on compliance and practical tax issues. To stay updated on upcoming sessions, interested businesses and tax professionals can register through the Ministryโs official registration platform at
For further details, clarification, contributions, or any concerns regarding this article, please contact us at [email protected]. We value your feedback and are committed to providing accurate and timely information. Please note that our privacy policy will handle all inquiries