Dubai Eye 103.8

On Air Now
Nights on Dubai Eye 103.8
11:00pm - 6:00am

Listen To Dubai Eye

Dubai Chamber briefs businesses about corporate tax requirements

Wednesday, 28 September 2022 14:51

By ARN News Staff

Supplied

The business community is being briefed about the requirements and processes related to the UAE's upcoming corporate tax system.

The Dubai Chamber of Commerce has hosted a workshop for over 330 participants representing various economic sectors.

They were briefed on how to comply with the new tax requirements and plan for a smooth transition.

The session was organised in collaboration with the law firm Al Tamimi & Co.

The UAE plans to introduce corporate tax in June 2023 at a basic rate of 9 per cent on company profits exceeding AED 375,000, while a rate of 0 per cent will be calculated for companies whose profits fall below the threshold, in an effort to support startups and SMEs.

The Dubai Chamber of Commerce recently hosted a workshop on the UAE Corporate Tax system at its headquarters, which was attended by over 330 participants from the business community, representing various economic sectors pic.twitter.com/KBjhKvMxDC
— Dubai Chamber of Commerce (@DxbChamberComm) September 28, 2022

More from Business

UAE, Iran expand cooperation in additional sectors

The UAE and Iran have explored ways to expand economic cooperation in sectors such as tourism, transport, entrepreneurship and renewable energy.
Former Binance chief guilty of money laundering

Changpeng Zhao, the former chief executive of Binance has been sentenced to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
Emirates attracts pilots with higher salaries, new perks

Emirates Airline has announced significant changes to its pilot recruitment strategy, which includes higher salaries, new roles and a radical change to eligibility.
Spinneys increases IPO retail offering due to high demand

Supermarket chain Spinneys has announced its decision to increase the number of shares allocated to the UAE Retail Offering of its IPO due to high demand.
IMF $1.1 billion tranche to help Pakistan's economic stability, says PM Sharif

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme.

Coming Up on Dubai Eye

The Business Breakfast
6:00am - 10:00am

The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.
The Agenda
10:00am - 1:00pm

Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.

BUSINESS BREAKFAST LATEST

Is there a summer slowdown in the UAE property market?
John Lyons of Espace Real Estate says there is a slight slowdown in the property market during summer. So we asked him, does this mean prices are negotiable during the summer months?
UAE's new prosecution offices to deal with financial crime
Lawyer Rebecca Kelly of Clyde & Co. explained why UAE judicial authorities are setting up new offices to deal with financial crime, including money laundering.
Airalo
Airalo - an eSim company disrupting telco's roaming revenues, has raised $60 million in funding including investment from our own e&.

On Dubai Eye

Flying Taxis
It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.
Tough penalties for deliberate tax evasion
The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.