Deciphering the Future of Abu Dhabi Businesses: Demystifying NAFA Corporate Tax in UAE

By | August 28, 2023

Scheduled for August 26, the upcoming conference aims to offer unmatched insights and expert counsel on the transformative taxation environment.

NAFA Summit Unveils Highly Awaited Occasion: Decoding Corporate Tax UAE 2023

Abu Dhabi, August 26, 2023 – The New Age Finance & Accounting Summit (NAFA) takes pride in unveiling the long-awaited Corporate Tax UAE Decoded event, scheduled for August 26, 2023. This significant gathering will take place in the dynamic city of Abu Dhabi. It follows the remarkable success of a previous conference held in Dubai. Aiming to provide exceptional insights and expert counsel, this conference delves into the transformative tax landscape driving economic growth. It also plays a significant role in shaping the future of businesses in the UAE.

A Landmark Shift in Taxation

On January 31, 2022, a historic transformation occurred in the tax scenario of the region. This was due to the groundbreaking announcement by the UAE Ministry of Finance (MoF) about a novel federal corporate tax (CT) system. Starting from the financial years that commence on or after June 1, 2023, this innovative system brought about a significant change. It introduced the lowest corporate income tax rate among the nations within the GCC. The standard rate stands at an unprecedented 9 percent, excluding Bahrain.”

Strategically designed to incorporate global best practices and ease compliance for businesses, the UAE CT regime takes center stage. During Nafa Corporate Tax UAE, participants will gain a comprehensive understanding of how the introduction of corporate tax affects business profits. This event aims to provide attendees with a thorough insight into the implications of corporate tax on their bottom line. They will also master the art of seamlessly maneuvering its prerequisites. This event presents an unmatched occasion for enterprises to proactively prepare for the future and secure a tax-efficient trajectory within the UAE.

Exchange of knowledge

“In my capacity as the Chairman of the ICAI Abu Dhabi Chapter, I am pleased to announce our partnership with Khaleej Times for the forthcoming ‘Corporate Tax Decoded’ event. The objective of this partnership is to facilitate the exchange of knowledge among professionals and business leaders. It specifically focuses on illuminating critical aspects of corporate tax. The partnership seeks to shed light on the significant facets that impact the corporate tax landscape. This includes recent amendments, effective implementation strategies, and essential compliance measures.

Our aim revolves around bringing together business leaders, tax experts, and financial professionals. This will happen within a dynamic platform that fosters interactive discussions and provides networking opportunities. The goal is to create an environment where these professionals can interact, exchange insights, and network effectively. We firmly believe that this event will furnish attendees with invaluable insights, empowering them to adeptly navigate corporate taxation in the UAE,” affirmed John George, ICAI Abu Dhabi chapter.

Carefully Curated Agenda

The meticulously designed schedule of Nafa Corporate Tax UAE Decoded encompasses a diverse range of pivotal subjects. These include the significance and consequences of implementing corporate tax in the UAE, the inevitability of corporate tax, industry-specific operational preparedness, taxation fundamentals, the importance and influence of corporate tax within free zones, the global impact and opportunities of international tax, comprehending the compliance requisites of corporate tax, deductions under UAE Corporate Tax along with Thin Capitalization Rules, the pertinence of Transfer Pricing for corporations, the value of upskilling, as well as exemptions, deductions, and the computation mechanism of Corporate Tax.

“We stand witness to a momentous juncture in the UAE’s business landscape,” noted Nilesh Devadia, Director of Business Development at Khaleej Times. NAFA-Corporate Tax Decoded aims to provide organizations with the knowledge and resources required to skillfully navigate this new tax landscape. Our strong belief centers on understanding the ramifications of corporate tax and proactively embracing these changes. Such adaptation is vital for ensuring a thriving and tax-efficient future in the UAE. We firmly advocate that comprehending and acting upon the consequences of corporate tax transformations is of utmost significance.

Secure Your Spot and Influence the Business Landscape Ahead

Seize the opportunity presented by this monumental progression that is restructuring the business scenario in the UAE. Engage actively in NAFA- Corporate Tax Decoded to acquire priceless perspectives from industry frontrunners, tax authorities, and government representatives. Empower your organization with the wisdom and proficiency essential to flourish in the fresh tax realm.

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