Event Details

The UAE is introducing a corporate tax regime โ€“ with a standard rate of 9% โ€“ with effect from 1 June 2023.


Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses was issued in December with the intention of introducing a competitive corporate tax regime that adheres to international standards, which, together with the UAE's extensive double tax treaty network, will cement the UAE's position as a leading jurisdiction for business and investment.


As the deadline approaches, we invite EICN member to join us for this roundtable lunch event on 28 February at which we will be joined by regional tax exports who can explain how the system will work and how businesses are preparing for 'T-day'.


What will be the filing and record-keeping responsibilities, what are the exemptions likely to be, how will this impact perceptions of the UAE's business environment attractiveness, and what can companies expect in return, based on the principle of "no taxation without representation"?


Additionally, when can we expect to see the existing system of business fees and fines simplified in parallel with the introduction of corporate tax, as was mooted by the Minister of Economy at our EICN Annual Conference in 2021?


There is much to unpack in the recent announcements, and plenty for businesses to do in the coming months to prepare for the new regime.


To allow for a manageable interactive debate, we are limiting participation to 20 people, and one representative per member company. So if you cannot attend, please nominate a relevant senior colleague to join us.


Agenda:

12 noon: arrival and networking

12.15pm: roundtable starts

1.15pm: roundtable finishes and networking lunch

2pm: close

Please note that this event is limited to senior-level executives and per invitation only. If you are not an existing member of The Economist Intelligence Corporate Network, but would like to learn how you can attend our events, please contact us.

Speakers

  • Steven Ireland (Head of International Tax at Creation Business Consultants)

    Steven Ireland

    Head of International Tax at Creation Business Consultants

    Steven is Head of Tax at Creation Business Consultants with over 20 years of progressive experience predominantly in the areas of M&A and international taxation.

    After qualifying in 2002, Steven joined a Big 4 UK tax practice in 2006 specialising in providing international tax planning advice. He moved to the M&A tax team in 2007 and relocated to the Middle East in 2010. He continued to work in the M&A and International tax teams of the Big 4 in the UAE, Bahrain and Saudi Arabia and was Head of International Tax at Grant Thornton prior to joining Creation Business Consultants in 2021.

    Since Steven began advising on transactions in 2007, he has been involved in a range of deals on behalf of international and regional clients ranging from owner-managed businesses to listed companies (including the world’s biggest initial public offering). He has undertaken in excess of 200 due diligence projects (both buy side and vendor due diligence) and structuring assignments.

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  • Robert Willock (Director EICN of The Economist Group)

    Robert Willock

    Director EICN of The Economist Group

    Robert is the Director of the Economist Corporate Network based in Dubai and covering the MENA region. Robert works closely with network members to help inform their business strategies through political, economic and operational insight and to connect them with their senior leadership peers.

    Robert is a business journalist, editor and publisher with 25 years of experience covering a wide variety of sectors, including hospitality, retail, construction, energy and transport, and a particular interest in human capital management.

    He is an accomplished event chairman, moderator and speaker.

    Robert completed an MBA at the University of Leicester School of Business in 2012 and holds a Bachelor's degree from the University of Nottingham.

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  • Steve Kiching (Tax Partner at Grant Thorton)

    Steve Kiching

    Tax Partner at Grant Thorton

    Steve is a senior indirect tax professional, with over 34 years of industry and Tax Authority indirect tax experience. Steve leads the tax function in Grant Thornton UAE as and brings a wealth of experience from the United Kingdom and GCC region.

    Steve has significant experience assisting clients in the Oil & Gas sector. Some of Steve’s clients include leading upstream corporations and he specialises in the Communications, Land & Construction and Retail & Leisure industries.

    Steve has a wealth of VAT knowledge, performing VAT reviews and implementation projects, which have resulted in cash-flow savings and greater VAT controls and procedures, benefitting his clients. Steve has a detailed understanding of Information Technology systems, including SAP, ORACLE, People Soft and VAT Tax engine configuration and has re-written ERP VAT taxing coding systems for clients such as AECOM.

    Steve has also been involved in numerous VAT court disputes against tax authorities whereby the legislation has not been correctly applied by the relevant tax authority, leading to many successful outcomes for his clients. He has strong negotiation skills which has aided with settling compliance matters between clients and the relevant tax authorities.

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