Networking & Breakfast - FTA Tax Audit & Corporate Tax Introduction in the UAE Joint Business Council Event
We cordially invite all NBC members to join the BeNeLux Business Council for a Networking & Breakfast organized in collaboration with MBG Corporate Services, on 2 topics: FTA Tax Audit and Corporate Tax Introduction in the UAE.
As it been announced by UAE government, a minimum Corporate Tax rate will be implemented starting yearly 2023, so MBG Corporate Services will offer you two sections for a more in-depth overview.
Time: 08:30 - 11:00
Location: The Ritz Carlton Abu Dhabi
Fee: Free
First session: FTA Tax Audit
As we are all aware, the UAE embarked on a promising year 2022 and marks 5 years since VAT has been implemented in the UAE. Businesses must prepare for official FTA audits in 2022. There is no need of a specific reason for the FTA to conduct an audit of a company. It can happen whenever the FTA decides to, with a five days issued notice.
Vipin Ahuja will provide you with a in depth insight on the FTA Tax Audit, the process on how to be audit ready, and how to register for VAT. Further Vipin will showcase to you what you can expect during an FTA Tax Audit, what the requirements are, and what the penalties for non-compliances are.
Second session: Corporate Tax Introduction in the UAE
As you are aware, businesses must prepare for a 9% Corporate Tax implementation taking effect by 1st of June 2023.
Our experience from implementation in various jurisdiction has shown that businesses need significant lead time to prepare their employees, customers, vendors and system for the introduction of corporate tax. Businesses need to assess what are their corporate tax liabilities and develop a plan to identify the necessary steps to be taken during the implementation of UAE corporate tax. Further, it must analyse its transactions to determine all future corporate tax liabilities and compliance obligations. Early preparation will allow to avoid increased implementation costs at premium rates, as well as pressure on internal teams to complete UAE corporate tax preparations in tight timeframe.
Speakers:
Vipin Ahuja, Associate Partner Taxation at MBG Corporate Services
Manoj Pandey, COO Direct Taxation at MBG Corporate Services
Registration: Send RSVP to office@nlbcuae.com or log in to your NBC account and register for this event.
For more information click here.
Location: The Ritz Carlton Abu Dhabi
Please be advised that photos, video and audio footage will be taken at this event. By entering the event premises, you give consent to the Netherlands Business Council UAE to photograph and video record your presence at the event, and its subsequent release, publication, exhibition, or reproduction to be used for news, promotional purposes, advertising, inclusion on websites, social media, or any other purpose by the Netherlands Business Council UAE and its partners. You release the Netherlands Business Council UAE, its employees, and every person involved from any liability connected with the taking, recording, digitizing, or publication and use of interviews, photographs, video and audio recordings. By entering the event premises, you waive all rights you may have to any claims for payment or royalties in connection with any use, exhibition, streaming, web-casting, televising, or other publication of these materials. You also waive any right to inspect or approve any photo, video, or audio recording taken by the Netherlands Business Council UAE or the person or entity designated to do so by the Netherlands Business Council UAE.