Wealth Solutions & Wealth Planning
Corporate Taxation Arrives in the UAE – What? Why? And What are the Implications?
Aakriti Sharma of Hourani & Partners
Oct 3, 2023
A fascinating discussion on the arrival and the likely impact of UAE corporate tax on private wealth took place during the Hubbis Wealth Solutions Forum in Dubai on September 20. These are early days since the June 1, 2023 arrival of the 9% tax on corporate income above AED375,000 (roughly USD102,000) but advisors are cautioning their clients to register with the authorities and abide by the necessary filings and levies. But how far will this new corporate tax reach? Will it, for example, also be levied on family office entities in free zones in the region? What about foundations, are they exempt? With the family business and personal wealth so intertwined in the region, does this mean that private clients must henceforth be far more careful about the segregation of their sources of wealth? These and other key questions were put to a panel of experts who offered their insights and proffered words of advice to the wealth management community in the region.
Chair
Aakriti Sharma
Senior Associate (Tax)
Hourani & Partners
Panel Members
Zain Satardien
Head of the Tax and International Trade Law
Hourani & Partners
Anuj R Kapoor
International Tax Partner
Grant Thornton
Midya Omar
Tax Lawyer
Al Tamimi & Company
Nirav Dinesh Kumar Shah
Founder and Managing Director
FAME Advisory DMCC
Want to find out more? CLICK HERE to view this panel discussion On Demand.
Want to get involved in future events? Save the date of our Hubbis Wealth Solutions Forum – Dubai 2024, which takes place on Wednesday 11th September.
You may also wish to save the date of our other Wealth Solutions Forums taking place in 2024 –
- The Hubbis HNW Insurance Summit – Dubai which takes place on Wednesday 1st May 2024.
- The Hubbis Wealth Solutions Forum – Singapore which takes place on Wednesday 5th June 2024.
- The Hubbis HNW Insurance Summit – Singapore which takes place on Wednesday 4th September 2024.
- The Hubbis Wealth Solutions Forum – Hong Kong which takes place on Wednesday 23rd October 2024.
Want to find out more about how you can drive your connectivity within the wealth management industry in Asia and the Middle East? Get in touch at [email protected] to find out our Partnership Opportunities for 2024.
Senior Associate (Tax) at Hourani & Partners
More from Aakriti Sharma, Hourani & Partners
Latest Articles