RAS AL KHAIMAH, The Ras Al Khaimah Economic Zone (RAKEZ) recently organised a workshop to familiarise its business community with the UAE’s new corporate tax system.
The event brought together global and regional taxation, auditing, finance, compliance and advisory experts, who provided the zone’s clients with in-depth details on how corporate tax will work in the UAE and the expected effects on corporate profits.
The workshop was a platform for its attendees to interact, ask questions and clear their concerns in an engaging discussion with experts, who explained how to prepare and comply with the new tax system, which will come into effect in June 2023.
Ramy Jallad, Group CEO of RAKEZ, said, “We are delighted to have hosted such a well-attended session on UAE corporate tax. It was great to see many of our clients seize this opportunity to study the UAE’s tax system, gauge its impact on their respective business entities, and plan ways of aligning their operations with the upcoming implementation of new regulations.”
Aquila S. Sadallah from ASLC Legal Consultancy said that the session was highly informative, and the speakers covered most of the topics that are important to the attendees.
Gayane from Eco Fresh commented that the table discussions were particularly useful for UAE-based entrepreneurs with varied company structures and operations.
Saying that her company has been preparing for the new tax law since January, Alshefin Haneefa from Royal Food Industries said, “We were closely following the updates on corporate tax, but there is too much information out there. The RAKEZ session was quite helpful, and we learnt a lot from the experts.”
“It is our responsibility to keep our business community members informed about any legal developments that are driving the UAE’s business landscape. This session was part of our ongoing efforts to support our clients’ growth and success in the country. We look forward to hosting more informative sessions like this in the future, which aim to enhance an ecosystem that incentivises and supports businesses,” Jallad added.
Source: Emirates News Agency