Ras Al Khaimah Economic Zone (RAKEZ) has orchestrated a seminar aimed at acquainting members of its business community with the latest developments in the UAE’s federal corporate tax.
During the event, the RAKEZ team emphasized the significance of comprehending the implications of corporate tax for different businesses, as well as the necessity of registering companies, maintaining accurate accounting records, and effectively submitting tax filings to the UAE’s Federal Tax Authority.
Furthermore, they introduced RAKEZ’s newest array of services designed to aid companies in meeting their corporate tax requirements. These services encompass tax consultation, registration and filing assistance, as well as comprehensive accounting and bookkeeping support.
The seminar featured tax experts who delivered insights into corporate tax, ranging from foundational understanding to its importance in strategic business planning aligned with current and proposed legislation.
The presentations centered around the application of corporate tax in free zones, outlining the qualifying criteria for companies and the associated exemptions.
Ramy Jallad, RAKEZ Group CEO, stated, “At RAKEZ, our mission is to foster an environment that facilitates business growth and financial integrity. Understanding and navigating the ever-changing trends in corporate tax can be a complex endeavor for businesses, particularly those new to the UAE market. This seminar was our way of standing alongside our community, demystifying tax obligations, and providing actionable tools for compliance. We are committed to continually empowering our businesses with the necessary knowledge to thrive in an ever-evolving tax landscape.”
The tailored approach of fostering an understanding of corporate tax trends was well-received by the attendees.
Zamil Chowdhury, Director of Vertextes, expressed, “RAKEZ’s community events are highly appreciated by investors, both for gaining business insights and networking opportunities. Keeping up with corporate tax requirements is crucial, and I am pleased that these sessions focus on such significant topics.”
Leena Punjabi, Marketing Manager of Makab International Trading, mentioned, “The session helped us verify whether the steps we took for our company aligned with the latest developments. I hope we have more follow-up events in the future that provide detailed information.”
Susan Furness, CEO of Strategic Solutions, remarked, “I loved the concept of this seminar with its simple, step-by-step guidelines. Since corporate tax is a dynamic subject, we had plenty of new things to learn. However, the main takeaway was the opportunity to connect with numerous other entrepreneurs brimming with energy and commitment to growing their businesses in Ras Al Khaimah. This vibrant business community played a role not only in my business venture but also in making Ras Al Khaimah my home.”
The economic zone plans to organize future events dedicated to corporate tax, ensuring that members of its business community remain well-informed and compliant with the latest regulations.