Simplified tax structure makes economy transparent and sustainable, officials told more than 300 accounting professionals and delegates at the Tax 360° – Navigating India, UAE & International Tax Landscapes Conference, organised by the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI).
“Ten years ago, we didn’t talk about tax in the UAE. However, we are now well into the tax environment – that brings in transparency, integrity and good governance into the economy. It tells who you are. So, tax is good for business and economy,” Abdulqadir Obeid Ali, Chairman of the UAE Internal Auditors’ Association, said in his address.
“A fifth of the Fortune 500 companies are run by Chartered Accountants – who are the backbone of any business. There is no way a machine or Artificial Intelligence will take up such an important profession. The AI can’t replace accountants. In fact, accountants will become more relevant and their work will become more relevant in the coming years.”
India’s total Personal Income Tax collection reached IN₹11.56 trillion in the 2024-05 financial year, higher than IN₹10.42 trillion Corporate Tax collected the same year – the first time Income Tax revenue outperformed Corporate Tax in India.
CA Rishi Chawla, Chairman of the Dubai Chapter of the ICAI, said, there are a number of similarities between the tax structures of the UAE and India. “There are lots of similarities between the new tax landscape of India and the UAE.”
“The Indian Income Tax system in 2025 is increasingly aligned with the aspirations of a fast-growing economy. Driven by technology, transparency, and simplification, the focus is shifting from enforcement to facilitation. As taxpayers embrace digital compliance and businesses navigate a dynamic economic environment, the tax framework continues to play a pivotal role in supporting growth, encouraging investment, and strengthening the nation’s fiscal foundation,” he added.
The number of people paying income tax in India reached 91.9 million in 2025-06 financial year. Indian Government collected IN₹6.16 trillion in Personal Income Tax in the first two quarters of 2025-06 financial year, much higher compared to the IN₹4.76 trillion in Corporate Tax collected during the same period last year.
Dr. Dharm Singh Meena, IRS First Secretary, Economic Affairs Wing, Embassy of India, “The UAE-India bilateral trade has already surpassed US$100 billion, as the two countries deepen strategic partnerships. However, we are also seeing a more transparent and simplistic approach in the tax landscape of both the countries that is encouraging.”
He said the new Personal Income Tax Act 2025 builds on the Income Tax Law of 1961 and simplifies it and makes tax filing easy for taxable professionals in India.
“The Personal Income Tax Act 2025 has ushered in a new era in simplifying the personal tax regime in India and as a result we are witnessing a surge in personal tax revenue that has exceeded the corporate tax collection in India for the first time. This is the result of the new Personal Income Tax Act of 2025 that makes tax easy to understand and file,” he said.
“The new income tax is half in size and removes all the complexities of taxes that used to make tax payment very complicated. The government’s primary goal was to provide greater tax certainty, reduce disputes and litigation and simplify the law by making it ‘reader-friendly’ for all taxpayers, making compliance easier by making it concise and lucid. The number of chapters has been reduced to 23 from 47, while the number of sections has been reduced to 536 from 819 and the total word count has been halved to 260,000 words in 2025 from 512,000 words in 1961!”
Non-Resident Indians’ (NRIs) income from their businesses and professional work outside India are exempted from the Personal Income Tax.
The session on Tax Updates in UAE, India and International Taxation provided participants with a concise overview of key developments shaping the tax landscape. The discussion covered recent updates in UAE taxation, important changes under the Indian Income Tax framework for 2025, and practical insights into international tax matters, including the application of Double Taxation Avoidance Agreements (DTAAs). The session highlighted the growing importance of staying abreast of tax developments and understanding their implications for businesses and professionals operating across jurisdictions.
CA Neeraj Teckchandani CEO & Director Apparel Group, said, businesses will have to adopt Artificial Intelligence (AI) into their operations.
“We manage 2,600 stores involving 85 brands with 27,000 professionals across 14 countries. Apparel Group has come a long way in the last three decades, from franchise business to licenses having a number of Intellectual Properties (IPs) under our portfolio.
“During every crisis, we have invested in technology to scale up the business – making it more effective and smarter. During the recent regional uncertain times, we have sharpen our focus on finding solution moving from E-Commerce to AI-Commerce that is making business smarter.”
ICAI is the largest professional body of Chartered Accountants across the world with over 1,000,000+ students and around 450,000+ members. ICAI has a wide network with five Regional Councils, 176 Branches, 54 Overseas Chapters, and 31 representative offices across the globe. And among 54 overseas chapters, ICAI Dubai Chapter is the largest and most vibrant chapter of ICAI. Of the 8,000 Indian Chartered Accountants active in the UAE‘s private sector, 1,400+ are currently leading businesses in senior positions.
