The Finance World Magazine| Edition: April 2023

UAE Corporate Tax Implications in Focus
Over 200 businessmen and
professionals attended a joint
session organized by India Club,
Dubai, Indian Business and
Professional Council (IBPC) and Taxation
Society to discuss the forthcoming UAE
Corporate Tax (CT). The event featured
a panel of experts who discussed various
topics related to the new tax law, including
taxable persons and income, impact
on free zone companies, exemptions,
deductions, tax grouping, reliefs, transfer
pricing, and general anti-avoidance rules
GAAR. The session was moderated by
Nimish Makwana and included speakers
such as Malavika Kolera, Amit Mehta,
Nirav Shah, Prateem Sengupta, Rishi
Chawla, and Rajiv Hira. The Taxation
Society plans to conduct more knowledgesharing
sessions in the future.
UAE Launches Its
First ‘Foodverse’ to
Revolutionize the Food
Industry
The UAE has launched its first
‘foodverse,’ a digital platform
that aims to transform the
food industry by connecting
consumers, producers, and suppliers
on a single platform. The foodverse provides
a wide range of services, including
online ordering, payment, and delivery
options, making it easier for consumers
to access quality food products. The
platform also provides valuable insights
and data to food producers and suppliers,
enabling them to better understand
consumer trends and preferences. The
UAE’s foodverse is part of the country’s
broader efforts to promote innovation
and digital transformation in various
sectors, including the food industry.
UAEIIC and Japanese JOIN sign MoU for infrastructure
and transport investment in MEA
The UAE International Investors
Council (UAEIIC) and Japanese
infrastructure investment
agency Transport and Urban
Development (JOIN) have signed a
memorandum of understanding (MoU)
aimed at increasing cooperation and
investment in infrastructure and transport
sectors. The agreement will facilitate
partnerships between business communities
and private sector companies from
both sides, encouraging bilateral and
multilateral investments, particularly
in the Middle East and Africa region.
The MoU was signed at the UAEIIC’s
headquarters at the Ministry of Economy
in Abu Dhabi. Jamal bin Saif Al Jarwan,
Secretary-General of UAEIIC, said the
deal with JOIN will stimulate growth,
create new projects and investment
opportunities, and establish new economic
partnerships.
Dubai Derma 2023 generates $600M of deals
Dubai Derma 2023, the largest
scientific dermatology event
in the Middle East, North
Africa, and the Indian Subcontinent,
concluded with over $600M
(AED 2.2B) worth of deals signed. The
event attracted over 24,000 visitors
and participants from 114 countries,
making it the largest edition to date.
The exhibition showcased the latest
breakthrough scientific research and
findings in the field of dermatology
and cosmetics. It also featured several
new product launches from over
480 regional and global companies,
including prominent specialists and
experts in the dermatology and cosmetics
sector, industry leaders, and
key decision-makers from the region
and across the world.
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