Ras Al Khaimah Economic Zone (RAKEZ) organised an interactive seminar to familiarise members of its vibrant business community with the latest trends in the UAE's federal corporate tax.

During the event, the RAKEZ team highlighted the importance of understanding the implications of corporate tax for different businesses and the necessity of registering companies, maintaining accurate accounting records, and effectively filing tax submissions with the UAE’s Federal Tax Authority. They also unveiled RAKEZ’s latest suite of services designed to assist companies with their corporate tax requirements. These services extend to tax consultation, registration and filing, as well as comprehensive accounting and bookkeeping.

The seminar featured tax specialists who presented insights into corporate tax, ranging from basic understanding to its significance in strategic business planning in line with the current and proposed legislation. The presentations focused on the application of corporate tax in free zones, detailing which companies would qualify and the exemptions associated with them.

RAKEZ Group CEO Ramy Jallad said, “Our mission at RAKEZ is to foster an environment that promotes business growth and financial integrity. Understanding and navigating the shifting trends in corporate tax can be a complex task for businesses, especially for those new to the UAE market. This seminar was our way of standing alongside our community, demystifying tax obligations and offering actionable tools for compliance. We are committed to continually empowering our businesses with the necessary knowledge to thrive in a constantly evolving tax landscape.”

This tailored approach to fostering an understanding of corporate tax trends was acknowledged by the attendees.

Director of Vertextes, Zamil Chowdhury, said: “RAKEZ’s community events are a big hit among investors both in terms of gaining business insights and networking. Staying up-to-date with the corporate tax requirements is quite important and I’m happy these sessions focus on such crucial topics.”

Marketing Manager of Makab International Trading, Leena Punjabi, said: “The session helped us crosscheck if the steps we took for our company were aligned with the latest developments. I hope we have more follow-up events with detailed information in the future.”

CEO of Strategic Solutions, Susan Furness, said: “I loved the concept of this seminar with simple, step-by-step guidelines. Since corporate tax is a generative topic, we had a lot of new things to learn. But the main takeaway was the opportunity to meet with dozens of other entrepreneurs full of energy and commitment towards growing their businesses in Ras Al Khaimah. This business community is highly attractive and has played a role in my shift to Ras Al Khaimah, not just my business but my home too.”

The economic zone is set to host future events focused on corporate tax to ensure that members of its business community remain well-informed and compliant with the most recent regulations.