UAE Growth & Investment Forum Insights
Tax experts stressed the need of tax efficiency and compliance preparation for companies navigating the corporate tax environment at the UAE Growth and Investment Forum. In analogy to Game of Thrones, Alia Noor, Associate Partner at Ahmad Alagbari Chartered Accountants, said that for companies, “the battlefield is operational performance and the sword is tax compliance.” She suggested that businesses learn about the thresholds for taxable income, especially the 9% rate that applies over AED 375k and the requirement that enterprises register for corporation tax if they make more than AED 1 million.
Methods for Avoiding Cash Flow Issues
Experts emphasised that one of the main reasons UAE SMEs and startups experience financial difficulty is poor record-keeping or missed deadlines. In order to prevent fines and ensure seamless operations, Nirav Shah of FAME Advisory advised businesses to establish sound accounting systems from the start and to obtain expert assistance as soon as possible.
Tips for Tech Adoption & Free Zones
The significance of software integration was again emphasised by the speakers, with Tally reps recommending that companies use TallyPrime and other similar technologies for trustworthy transaction tracking and VAT administration. Additionally, firms in Free Zones were encouraged to stay vigilant about free zone exemptions, ensure proper documentation, and adhere to transfer pricing rules—with proper planning helping them retain benefits such as 0% tax on qualifying income.
