A highly effective legal seminar was held on the 17^th of January 2024, in a great collaboration between Dubai Chambers and MASAR Chartered Accountants. It focused on improving knowledge of corporate legal structuring and discussing the effects of corporation tax on small and medium-sized businesses (SMEs). The session, which aimed to offer practical insights, attracted 50 participants from a wide range of enterprises in different economic sectors.

The session examined the complex world of corporate tax and its effects on SMEs. It was held virtually in Arabic by the Tax Partner at MASAR Chartered Accountants, Mr. Rashid Al Roken. Entitled ‘Corporate Tax and its Impact on Small and Medium-sized Companies,‘ the webinar furnished attendees with vital details on the adjustment of 2024 financial statements to conform to the current Corporate Tax system. In addition, attendees gained knowledge of expert techniques for efficiently handling and producing business accounts.

The CEO of Dubai Chambers, Mr. Mohammad Ali Rashed Lootah, stressed the importance of these seminars in empowering companies and creating a favorable business climate in Dubai. He said, “The regular legal workshops organized by Dubai Chambers offer clear insights on key issues affecting companies and form an important part of our efforts to enhance Dubai’s favorable business environment.” In alignment with the above, Mr. Hassan Hamzeh, the CEO of MASAR Chartered Accountants, has emphasized that “One of MASAR’s main targets in 2024 for its corporate social responsibility plan is to spread awareness of this newly introduced economic tool in the UAE; Corporate Tax. This webinar for Dubai’s SMEs was just the start, as MASAR has many more to come for the different sectors forming the UAE’s rich economy.”