WAM
Dubai Chambers has introduced it is attracted over 2,000 companies to a collection of workshops targeted on constructing consciousness about Corporate Tax.
The initiative is aligned with Dubai Chambers’ dedication to foster information of latest authorized developments and help firms in successfully making ready for compliance with the UAE’s Corporate Tax Law.
Since the announcement of the implementation of the tax, Dubai Chambers has organised 15 workshops in collaboration with key authorities our bodies, in addition to distinguished legislation and consulting companies.
They coated the legislative basis of the brand new tax framework and its ramifications for firms working inside the UAE, guaranteeing adherence to tax legal guidelines, whereas empowering the native enterprise group to benefit from the benefits and exemptions it gives.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasised that the accessible Corporate Tax price and adaptable rules will facilitate enterprise progress, funding, and financial diversification within the emirate.
Corporate Tax took impact on June 1, 2023, relevant for monetary years commencing on or after that date.
It mandates a regular tax price of 9 per cent on taxable enterprise income exceeding AED 375,000. Notably, small companies and startups with income beneath this threshold will take pleasure in a 0 per cent tax price, bolstering their progress prospects.
We’re happy to announce that greater than 2,000 companies have participated in a collection of 15 workshops designed to boost consciousness on Corporate Tax. To know extra, please go to: https://t.co/TajvjlG1sn pic.twitter.com/IB1wqq4lju
— Dubai Chambers (@DubaiChambers) August 30, 2023
