Khaleej Times, Wednesday, Mar 29, 2023 | Ramadan 7, 1444
Corporate tax in UAE will open new vista for investment and growth
Emirates:
RNG Management Consultancies UAE and Astrazure Legal Services Private Ltd India
have signed a memorandum of understanding (MoU) to help the companies and
businesses in the UAE to make them ready for the upcoming UAE Corporate Tax Law,
to be implemented from June 1, 2023.
The companies will work together across several areas including UAE corporate
tax law, international taxation, transfer pricing and value added tax (VAT)
particularly on tax impact assessments, business structuring, standard operating
procedures, IT systems upgrade and Tax compliances. “With the combined
capabilities of RNG and Astrazure, customers in UAE will get more cost-effective
solution to UAE corporate tax and reduce the risk of non-compliance by having
proper implementation before the deadline” said CA Chirag Gupta, Partner, RNG
Group.
“Introduction of corporate tax will open new opportunity of growth and
investment in UAE”, said CA Atul Gupta - Past President ICAI and Board Member
IFAC in a recent workshop on “UAE corporate tax and transfer pricing” in Dubai
on Februry 18, organised by RNG Management Consultancies, wherein K Kalimuthu,
consul (economic, trade & commerce) - Consulate General of India to Dubai was
the chief guest. He stressed that open and transparent regime always welcome the
new opportunity and UAE corporate tax getting implemented will be a step forward
in that direction. Tally Solutions Pvt. Ltd. was the technology partner and
Khaleej Times was the media partner for this event.
This workshop was addressed by other eminent speakers including CA Harikishan
Rankawat, Partner of RNG Auditors, CA Atul Gupta - Past President ICAI & Board
Member IFAC and Vikas Panchal, General Manager of Tally Solutions on the
convergence of various concepts of corporate tax and technology. Topics like
basis of taxation, arm’s length pricing, deductions, tax group and tax losses
were deliberated where more than 200 delegates participated from Industry and
Profession.
On this occasion, TAXO Knowledge Solution was also launched specifically for UAE
corporate tax law and transfer pricing. TAXO isa dedicated solution for
self-paced learning and specialised knowledge solution, wherein one can learn
and deep dive in the corporate tax along with illustration and relevant case
laws. Updated interlinked articles with regulations, FAQs, illustrations,
diagrams & commentary, cherry pick case laws from global jurisdiction and
notification etc. will be available online to users through TAXO e-solution on
UAE Corporate Tax under individual articles. TAXO is also facilitating the users
to interact with Experts every month so all their queries can be answered. CMA
Manoj Kapoor Shared that TAXO is already being used by 1,000+ corporates in
India for their different tax learning / compliance needs. You can contact RNG
Group on +971-4-2765667 or visit www.RNGauditors.com to know more about their
services.