Virtuzone, a company dedicated to assisting businesses in the UAE by offering technical and administrative support, has recently introduced TaxGTP, the world’s first AI-powered corporate tax assistant in the UAE.
Once the new corporate tax law comes into effect on June 1, 2023, the AI tax assistant provided by Virtuzone will assist businesses and startups in familiarizing themselves with the law. It will guide them through the processes and regulations involved, ultimately facilitating the smooth filing of taxes.
TaxGPT, the AI tax assistant developed by Virtuzone, utilizes the advanced Generative Pre-trained Transformer-4 (GPT-4) AI model, created by OpenAI, a prominent American AI research laboratory. The tax assistant has undergone extensive training to provide comprehensive and detailed information regarding the new corporate tax regulations. To ensure accuracy and reliability, the developers have utilized official sources such as documents and publications released by the Ministry of Finance and the Federal Tax Authority, which are publicly available, for training TaxGTP.
Similar to other AI assistants, TaxGTP has the capability to continuously learn and update itself with the latest information provided by the Ministry of Finance and the Federal Tax Authority. This enables TaxGTP to offer relevant and up-to-date answers to users, ensuring that businesses and startups are equipped with the most current information regarding corporate tax regulations.
John Casey, General Manager of Virtuzone Accounting and Tax, said, “TaxGPT is just one of the tools we have created to make it easier for entrepreneurs and businesses to navigate the new tax law and the country’s dynamic business landscape.”
Furthermore, he emphasized that although the new tax regime may appear unfamiliar and unexplored for certain businesses, the tax assistant and the dedicated team readily offer guidance and support on the subject matter.
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