Thursday, May 23, 2024

Dubai Chambers promotes corporate tax awareness among the business community


Dubai Chambers, in collaboration with “Iman Al-Rifai Law Firm and Legal Consultancy”, organized an e-seminar for the business community on the implementation of the new corporate tax regime that came into force from June 2023.

The webinar was attended by more than 100 participants and provided an overview of the new corporate tax regime and the most important aspects of the Act, as well as key tips to prepare companies for tax, compliance requirements, including exemptions. and the facilities provided in the Corporate Tax Law and the impact of corporate tax on businesses and various sectors in the UAE.

Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said: Corporate tax legislation in the UAE has been designed in line with international best practices and is an important step in allowing companies and investors to contribute to the development of society. Competitiveness of Business Environment”.

He added, “We have organized this webinar to support companies, understand the impact of corporate taxation on their business and clarify their obligations under the new law,” stressing Dubai Chambers’ commitment to accelerate business development in the emirate.

For his part, the founder of Iman Al-Rifai Law Firm and Legal Consultancy, Dr. Iman Al-Rifai said: “Considering the lack of specialization in the legal presence, we were interested in the symposium to provide a simple explanation. , and in a way that meets the needs of the business community in introducing the articles of the law and its basic provisions.

Companies operating in Dubai and the UAE generally enjoy one of the most competitive tax rates in the world, with 0% on profits up to AED 375,000 and 9% on profits above that threshold.

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Bill Dittman
Bill Dittman
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