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.

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