With the UAE’s new corporate tax law set to take effect on June 1, 2023, businesses may find it challenging to navigate this uncharted territory.
In light of the above, Virtuzone, a UAE-based provider of corporate services, introduced TaxGPT, the world’s first AI-powered corporate tax assistant.
The new tool is designed to guide and assist businesses in understanding and complying with the new tax regime.
TaxGPT, which is built on the AI model of Generative Pre-trained Transformer 4 (GPT-4), provides instant and complete answers to questions related to the new corporate tax legislation, based on information from the Ministry of Finance and the Federal Tax Authority.
Read more: Which companies will be subject to tax in the UAE on June 1?
With its ability to learn over time, TaxGPT can update its responses as new changes and updates are announced by the Ministry and FTA. Virtuzone aims to support entrepreneurs and businesses in adapting to the UAE’s new tax law by providing them with the knowledge they need through AI technology.
In addition to TaxGPT, Virtuzone has previously launched other tools such as the Corporate Tax Calculator and the Business Setup Cost Calculator. The company has also made strides in the digital world with its iconic V-shaped headquarters in the metaverse and its partnership with Binance, making it the first UAE corporate services provider to accept cryptocurrency payments via Binance Pay.
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