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Panel on corporate tax hears of opportunities and red flags

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Leading auditing and taxation firm Corporate Group sought to allay concerns over the looming regime of corporate tax in the UAE while highlighting the fact that a significant number of companies face the risk of fines in the absence of timely action.

A packed hall of entrepreneurs, CFOs and accounting heads from big companies attended a panel discussion organised by Corporate Group at the Radisson Blu Waterfront hotel in Business Bay on Tuesday. The audience heard from experts in the VAT, legal and Federal Tax Authority (FTA) domains on how time is running out for businesses to comply with the registration before the June 1 deadline.

Mohamed Osman

“It is understandable that people have all sorts of questions especially when the framework of the law is still being fine-tuned by the government,” said Mohamed Osman, chairman at Corporate Group, who also specialise in audit and VAT services. “While it is true that not all are eligible or bound to pay the corporate tax rate of 9 percent, everyone has to register if they meet certain criteria.”

The UAE’s impending implementation of a 9% corporate tax is a drastic step in the traditionally tax-free country and hence vexing for many. However, some have welcomed the move even from a neutral, larger perspective.

David McCormack, Managing Director of Asset Capital Solutions who has managed more than $200 million of real estate investment for two private equity groups, said: “Countries like the UK or Australia, where I hail from, have high rates of corporate tax while it used to be zero here. However, any dealings that we did, irrespective of the merit, attracted misconceptions by many countries that we were trying to cheat on tax money. Now, that is getting out of the equation.”

Mohamed Osman addresses the panel at a Dubai hotel on Wednesday. Supplied

Abdul Salim Seyudu, technical manager at an insurance company, said: “It was an informative session on a very relevant topic. With startups and the likes from all parts of the world coming to Dubai, everyone is looking at it with their own lens and needs. I remember VAT has now been here for five years and people are still searching for answers. Similarly for corporate tax, every piece of information is helpful at events like this.”

Questions arose from the packed hall with attendees seeking clarity on how the pending changes impacts their respective organisations or businesses. Many stayed behind much after the session to address more queries to the experts. There was also demand to have more such conferences in the near future.

“Education by way of seminars and such discussions is needed,” said Luca Angiolilli, the CG Tax Director with more than 20 years of experience in various countries. “Before starting the meet, seeing the enthusiastic response, we decided internally to have more such events.”

The presence of 45 free zones and their unique position from a taxation point of view in the economic framework of the UAE has made the introduction of CT more challenging. “The UAE has 45 free zones with some more coming up and in areas criss-crossing each other,” McCormack said.

“Many of the companies have registered where they shouldn’t have. Some free zone companies have slipped into the guise of another activity, which may have gone off the radar until now. And many don’t even have the option to open bank accounts and that is a fundamentally big problem in the current development of implementing corporate tax.”

All panelists agreed unequivocally that the initiative by Corporate Group has set the conversation going in the right direction. Yet, the lack of awareness and lackadaisical approach among business houses, SME and individuals must end soon with barely a couple of months left.

Announcements

India’s BCKIC 2025 Conclave to unlock $10–50 billion green market access for UAE and GCC leaders

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The stage is set for one of the most significant India–Middle East business dialogues of the decade, as the Bhubaneswar City Knowledge Innovation Cluster (BCKIC) 2025 Conclave prepares to open in India this November, offering, according to organisers, a $10–50 billion sustainability and investment opportunity for Gulf-based leaders.

Scheduled for November 21 and 22 in Bhubaneswar, Odisha, the two-day conclave will bring together senior representatives from government entities, sovereign funds, and the private sector across the UAE, Saudi Arabia, and the wider GCC region. 

The event is organised by the BCKIC Foundation, supported by the Government of Odisha’s Department of Energy, under the aegis of the Office of the Principal Scientific Adviser to the Government of India.

Themed around The Next Wave of Sustainability Policy and Investment Flows”, the summit seeks to bridge India’s rapidly expanding green economy, valued at over $165 billion, with the Middle East’s capital, innovation and policy frameworks under Vision 2030 and UAE Centennial 2071.

“This is not just another global summit, it’s a strategic inflection point for India–Middle East collaboration,” said Dr Mrutyunjay Suar, Chairman of the BCKIC Foundation.

“From green hydrogen and water security to circular economy and AI-driven sustainability, the synergies between India’s innovation scale and the Gulf’s execution capacity are unparalleled. Missing this window could mean losing the first-mover advantage in shaping global sustainability frameworks.”

A New Era of India–Middle East Sustainability Partnership

The conclave comes at a pivotal moment for both regions. Following India’s G20 presidency in 2023 and the UAE’s hosting of COP28, both nations have emerged as global voices in sustainability transition and climate finance.

Dr. Suar noted that the conclave will act as a strategic platform for Gulf leaders to consolidate their role within the India–Middle East–Europe Economic Corridor (IMEC), while also gaining access to India’s technology, research, and policy innovation ecosystem.

“Gulf sovereign funds now control over $2 trillion in assets and are increasingly looking for sustainable, high-return projects,” he said. 

“India’s innovation and affordability, combined with the Middle East’s capital and implementation speed, make this partnership an unprecedented opportunity to move from commitment to concrete outcomes.”

Access to Proven Technologies and MoU-Ready Projects

Middle Eastern delegates will gain direct access to Indian policymakers and experts from NITI Aayog, DST, and the Principal Scientific Adviser’s Office, with discussions focused on green hydrogen, renewable energy, waste-to-energy, and climate-resilient infrastructure.

The event will also unveil a pipeline of over 50 proven Indian technologies relevant to Gulf market needs, ranging from water management systems to digital smart-city solutions, many of which have demonstrated cost efficiencies of 30–50% compared to Western alternatives.

The BCKIC Foundation confirmed that the conclave is structured to deliver tangible outcomes, with more than 20 Memorandums of Understanding (MoUs) already in advanced stages of preparation. The targeted projects are expected to offer internal rates of return (IRR) between 15% and 25%, appealing to investors seeking both profitability and environmental impact.

Odisha: A Live Model for Sustainable Urban Innovation

The conclave will take place in Bhubaneswar, the capital of Odisha, one of India’s fastest-growing hubs for renewable energy and smart cities. The venue itself will serve as a live showcase of sustainable urban development, featuring zero-waste hospitality, circular economy practices, and local sourcing models.

Organisers say the event is designed to foster lasting bilateral frameworks that will drive long-term cooperation between India and the Middle East across sustainability, technology transfer, and impact investment.

“This is the decade of decisive climate action and cross-regional collaboration,” Dr Suar added. 

“The BCKIC 2025 Conclave will not just discuss ideas but catalyse partnerships that define the global sustainability roadmap for years to come.”

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Dubai introduces world’s first smart gold testing lab: Get your jewellery checked in under a minute

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Dubai just made testing your gold and jewellery a whole lot easier. The Dubai Central Laboratory, part of Dubai Municipality, has launched the Smart Gold and Jewellery Testing Lab, the first-ever fully automated device that can check the purity of gold, silver, and platinum, all without human help. And the best part? Results come back in under 60 seconds.

Unveiled at GITEX Global 2025, this cutting-edge innovation uses AI, X-ray tech, and advanced spectroscopy to deliver highly accurate readings. It’s designed to make life simpler for traders, buyers, and jewellery enthusiasts, reinforcing Dubai’s reputation as a global hub for precious metals.

How It Works – Quick, Smart, and Totally Hands-Free

The device is entirely autonomous. That means no staff intervention, no waiting around, and minimal room for error. It’s smart enough to self-calibrate, monitor its own performance remotely, and respond instantly to any issues. According to Dr Naseem Mohammed Rafi, Acting CEO of Dubai Municipality’s Environment, Health, and Safety Agency, this is a “game-changer” for precision, speed, and reliability in the precious metals sector.

Where You Can Try It First

The first device will be installed at the iconic Gold Souk in Deira, with plans to roll it out across other key locations in Dubai. This move is part of Dubai Municipality’s push to create a fully integrated testing ecosystem for gold and jewellery, ensuring quality, compliance, and peace of mind for everyone, from traders to shoppers.

Whether you’re a collector, a trader, or just curious about the purity of your jewellery, this smart lab makes checking your gold fast, easy, and reliable.

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Abu Dhabi T10 levels up its game with BC.GAME Esports as principal partner

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The Abu Dhabi T10 League has announced BC.GAME Esports as its Principal Partner for the 2025 season. This landmark partnership connects the energy of T10 cricket with the fast-growing global esports ecosystem, driving brand visibility and fan engagement to new levels.

The alliance will deliver powerful exposure across broadcast, digital, and in-stadia platforms, while introducing esports-inspired activations to enhance the tournament experience for fans. The aim is to bring the worlds of live cricket and competitive gaming closer than ever before.

The Abu Dhabi T10 will run from November 18 to 30, 2025, at the Zayed Cricket Stadium, featuring top international players competing in action-packed 10-over matches. With BC.GAME Esports on board, the league will strengthen its appeal to younger, digital-first audiences across global markets.

“We’re excited to welcome BC.GAME Esports as our Principal Partner,” said a T10 League spokesperson. “Season 9 will be our biggest yet, with expanded global reach and enhanced fan experiences — and we are confident that BC.GAME Esports will return again next year.”

A BC.GAME Esports spokesperson added: “Partnering with Abu Dhabi T10 gives us the perfect platform to expand our community and create unique experiences that unite cricket fans and gamers worldwide.”

This partnership reflects Abu Dhabi T10’s commitment to innovation, youth engagement, and global growth, making 2025 one of its most exciting seasons yet.

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