Results of the conference "Tax Policy and Tax Disputes"

Results of the conference "Tax Policy and Tax Disputes" organized a conference on "Tax policy and tax disputes 2022-2023" on February 16.

Within the framework of this event the organizers invited as speakers both consultants of leading law companies and in-house lawyers, as well as representatives of state authorities and banks.

During the conference more than 15 speakers covered the most pressing issues for tax authorities during 3 sessions:

  • Session 1: "Distorting International Politics Through the Prism of 2022."
  • Session 2: "What's New in the Tax World? Legislative Initiatives and Tax Trends in 2023."
  • Session 3: "The 2022-2023 Tax Litigation Map."

Experts and participants of the conference discussed legislative changes in tax sphere, issues of interaction with tax authorities, specifics of taxation in UAE, and also discussed what businesses need to know about taxes and not only.

In the III session Senior Tax Compliance сonsultant Ivan Tsvetkov answered the most pressing and frequently asked by taxpayers question: "How to prove the business purpose of the transaction?

In his report Ivan told about what is the criterion of business purpose, about the positions of the financial authorities on proving the business purpose of the transaction, the existing features of proving a business purpose for the taxpayer, and shared the relevant algorithm to minimize the relevant tax risks.

As a result of the event, prepared an article on its portal with the key comments of the speakers, including Ivan: 

"Giving a single algorithm for all is problematic, because transactions vary greatly. The collection of evidence justifying the business purpose of a financial transaction should be taken into account at the planning stage", noted Ivan Tsvetkov, Senior Tax Compliance Consultant.

You can read the full article at the link.