SHARJAH, 1st May, 2024 (WAM) -- Sharjah Chamber of Commerce and Industry (SCCI) organised a workshop on the corporate tax system in the UAE in collaboration with Kashwani Law Firm.
The workshop featured key highlights and guidelines that help participants navigate the UAE corporate tax regime with ease and understanding, encompassing legal, accounting, and technical aspects.
Led by advocate Ahmed Abdul Aziz Kashwani, CEO and Managing Partner of Kashwani Law Firm, along with a group of experts and legal advisors, the workshop delved into the concept of tax residency under the UAE’s Corporate Tax law, showcasing the practical and technical aspects of its implementation. The session also covered corporate tax calculations/computations, tax return filing and preparation, and tax compliance procedures. The final segment of the workshop highlighted tax offenses and the procedures followed in cases of Corporate Tax Law violations.
The workshop's concluding segment shed light on tax crimes and the requisite procedures for addressing Corporate Tax Law infringements and violations.
Speaking on the occasion, Ali Al Jari, Director of SCCI’s Sharjah Exports Development Centre (SEDC), affirmed that the business sector in the emirate is very flexible and abounds with legislative facilitations, competitive advantages, and privileges.
Al Jari emphasised that the UAE’s new Corporate Tax Law demonstrates its conformity with international financial norms and standards. He elucidated that the agenda of the Sharjah Chamber’s workshop was meticulously crafted to encompass various aspects of the country's corporate tax system.
During the workshop, the participating experts underscored the significance of adhering to the Corporate Tax Law and its positive impact on enhancing financial transparency. They highlighted the law's role in attracting investors to Sharjah and the UAE and guiding foreign investors to make well-calculated investment decisions.