Tuesday, June 25, 2024

UAE Gets World’s First Al Tax Assistant “TaxGPT”

Virtuzone, a corporate services provider in the UAE, has introduced TaxGPT, an AI-powered corporate tax assistant. This tool aims to assist businesses based in the UAE in understanding and complying with the upcoming corporate tax law, which will come into effect on June 1, 2023.

TaxGPT is developed using the advanced language model Generative Pre-trained Transformer 4 (GPT-4) by OpenAI. It offers instant answers to queries related to corporate tax based on official online publications from the Ministry of Finance and the Federal Tax Authority.

What sets TaxGPT apart?

It has the ability to continuously learn and stay updated with the latest changes in the legislation. TaxGPT adapts to provide the most current information to businesses. Virtuzone aims to empower entrepreneurs and businesses, enabling them to smoothly transition and adapt to the new tax law.

Moreover, Virtuzone’s CEO, George Hojeige, prioritizes AI integration to enhance entrepreneurs’ experience. Furthermore, John Casey, Virtuzone’s General Manager of Accounting & Tax, highlights TaxGPT as a tool to simplify the new tax law and provide guidance.

Virtuzone has introduced many other innovative solutions, such as SWYFT Plan, an AI-driven business plan builder that generates business plans. Additionally, they offer a Corporate Tax Calculator, a Business Setup Cost Calculator, and have partnered with Binance for cryptocurrency payments.

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