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LOOK: PICPA Dubai raises awareness on new UAE Corporate Income Tax laws

PICPA's leaders and officers for its Dubai Chapter, headed by Mr. Lyndon Magsino (third from left) pose for a souvenir shot after staging their 2023 Finance and Tax Summit.

The first event of 2023 – the Philippine Institute of Certified Public Accountants (PICPA) Dubai Chapter held its Financial and Tax Summit at Shangri-la hotel, Dubai last 15th January 2023, where topics about the newly issued UAE Corporate Income Tax, Data Analytics through PowerBI and Keys to Workplace Excellence were discussed.

The summit started with the presentation of the CEO of Magnate International Business School, Ms. Christine Filomeno related to analyzing data using PowerBI. The attendees were given real-time training on how to operate the PowerBI app which they can use to make their data analysis more efficient.

The seminar also expands to areas which focused on ground rules on how to be excellent at work. The topic was successfully headed by Mr. John Sola, and quoted “the right view of work is the starting point for true success”.

In line with the government of UAE’s introduction to Corporate Income Tax (CIT), it is also with PICPA Dubai’s mission to promote awareness to its members in terms of preparation for the changes in businesses’ financial and accounting reports which finance professionals and accountants in the UAE must be aware of.

With numerous topics and concerns about CIT came Mr Abdelhamid Attalla’s expertise, Tax Expert and Senior Director of Cragus Group, who opened his discussions on corporate income tax laws and guidelines, and shared his knowledge to the attendees to have a better grasp on the governing laws imposed.

Another well-attended seminar full of learning, B2B networking, and meeting new industry friends from PICPA – Dubai.

The final topic of the summit focused on the finance professionals responsibilities to apply the rules and the reporting guidelines of CIT (including correct application of transfer pricing principles) which were discussed by the representatives of MBG Corporate Services, Mr Amit Sachdev, CEO and Ms. Komal Grover, Director.

UAE’s fast-paced innovations, globally competitive workplace, and with the new tax law coming into place, our finance professionals need to be adept at dealing with the upcoming changes and be able to handle these with precision and reliability.

And so, in reaching out to accountants in Dubai with more relevant topics to offer, PICPA Dubai’s goal (together with its other sponsors: Megaworld International, Zoho, Trade License Zone and Institute of Management Accountants) is to conduct more seminars and training like this in the coming months and will be inviting everyone in the field of Finance and Accounts to come and participate!

Visit PICPA Dubai’s official social media pages for updates and announcements.

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

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