UAE fintech firm Qashio and global accounting firm Crowe host roundtable

UAE fintech firm Qashio and global accounting firm Crowe host roundtable

Dubai, UAE – UAE-headquartered fintech business, Qashio, in collaboration with Crowe, a global public accounting, consulting, and technology firm, recently hosted a roundtable to discuss the implications of the introduction of Corporate Tax for finance leaders from the F&B industry. The event highlighted how the implementation of Corporate Tax will affect the UAE restaurant industry and what restaurant operators can do to ensure their compliance.

The event was attended by 50+ influential senior finance leaders from various restaurant groups and chains, including CFOs and finance managers of major hospitality groups, such as Bulldozer Group, Sweetheart Kitchen, Pickl and Gourmet Gulf.

As an operator in the F&B industry, being aware of one’s real-time business’ financial health is an important factor in ensuring that it is not being run blindly. With the involvement of huge capital investments, competitive profit margins and a levy of municipal taxes and VAT on the F&B industry, the addition of 9% corporate tax could have a negative impact on the company’s budget and/or pricing.

Given that corporate tax is a novel concept to UAE businesses, it is essential for them to fully comprehend the concept in order to budget the time and resources needed to implement these changes. In its