Unveiling the Remarkable Rise of a Visionary Entrepreneur!
Dubai, the city of skyscrapers, beaches, and luxury, has always been a hub for entrepreneurs and business tycoons from all over the world. The city’s fast-paced environment and dynamic economy have served as breeding grounds for innovation and creativity, and many have risen to fame and fortune through sheer hard work and determination.
In the bustling city of Dubai, where dreams are transformed into reality, one self-made entrepreneur has emerged as a true beacon of success. Parvez Rupani, Chairman of DgTx and a visionary and trailblazer, has not only carved a niche for himself in the business world but created a lifestyle that epitomizes opulence, perseverance, and unwavering dedication.
Hailing from Pakistan, he had a vision of a prosperous future and embarked on a journey that spanned continents, ultimately leading him to become one of the world’s most accomplished self-made entrepreneurs. His thirst for knowledge brought him to the United States, where he labored tirelessly to make ends meet and finance his education. With sheer determination and perseverance, Parvez charted a course into the realm of entrepreneurship, creating profitable enterprises and amassing a considerable fortune. He showcased his natural aptitude for navigating the intricacies of the business world through his successful ventures, ranging from health clubs to other business endeavors.
Back in 2009, Parvez Sultan Rupani took the crucial step of moving to the United Arab Emirates, where he teamed up with his brother and business companion, Asif Ahmed. Together with a team of only six individuals, they embarked on an incredible journey driven by their mutual aspirations and unyielding commitment. Their ceaseless quest for triumph pushed them to achieve the topmost position as Etisalat’s leading partner, a renowned telecommunications corporation, within just seven years, by 2016.
Their company’s remarkable success was the result of their tireless efforts and unwavering dedication to excellence, which earned them multiple accolades and recognition. Parvez Sultan Rupani’s leadership as Chairman of DgTx and their revolutionary product led them to receive the prestigious “Best Digital Transformation Advisory” award at the Arabian Best of the Best Awards. Moreover, their exceptional collaboration with Etisalat resulted in Skylines Telecommunications being honored with the highly coveted “Top Channel Partner Etisalat” award.
Parvez’s extensive exposure to diverse cultures and economies across Pakistan, the United States, and the United Arab Emirates has endowed him with a global perspective that sets him apart in the business world. He possesses an innate ability to navigate through international markets and comprehend the industry’s dynamics, making him a visionary entrepreneur.
Parvez Sultan Rupani is not only a successful businessman but also an influential figure in the entrepreneurial world. His YouTube channel, “Powerpreneurs,” has gained widespread recognition for its valuable insights, advice, and inspiration, drawing in millions of viewers who are eager to learn and stay motivated in their quest for success. His contributions have received praise from esteemed publications such as Forbes and World’s Leaders Magazine, with many acknowledging him as the “Most Powerful Entrepreneur in the Middle East.”
Join us as we delve into the captivating story of Parvez Sultan Rupani, an entrepreneur whose journey from humble beginnings to extraordinary success has inspired millions around the world!
Dubai’s Tycoon Parvez Rupani
Parvez Sultan Rupani, a prominent tycoon in Dubai, possesses an acute understanding of the requisites for success. As the mastermind behind DgTx, he has dedicated himself to facilitating others’ attainment of their aspirations. His unwavering conviction is that every person has the capacity for greatness, but a mentor is indispensable on the path to accomplishment. Parvez Rupani endeavors to endow such individuals with all the indispensable counsel through his podcast – “Powerpreneurs.”
Parvez has always been captivated by the entrepreneurial ethos and opines that every triumphant entrepreneur has a distinct tale. Furthermore, he characterizes a ‘Powerpreneur’ as an entrepreneur who surpasses conventional standards to create something extraordinary.
Powerpreneurs, which offers a forum for high-achieving individuals as well as those who may not have attained conventional success but have accomplished something notable, has the primary objective of spotlighting the tales of people hailing from diverse backgrounds and industries, with the aim of exhibiting the knowledge and understanding they have garnered during their expedition.
“I believe success comes in different forms, and we can learn something from each other’s experiences. Powerpreneurs is my small way of contributing towards shared learning—a platform for individuals to highlight their successes or failures—to inform and inspire others to grow and reach a higher level of awareness and success.”
The podcast shall showcase a diverse array of guests, comprising entrepreneurs, corporate chieftains, artisans, literati, and sundry others. Each consecutive episode intends to offer a comprehensive insight into the personal and occupational odysseys of the invitees and the vicissitudes they have encountered en route.
He further highlights by saying whether it is to launch a new enterprise or pursue personal development, setting objectives is extremely crucial. Setting goals constructs a pathway for an individual to attain their desired life or business objective. Discussing the significance of setting objectives, Parvez Rupani asserts that goals provide guidance and meaning. A goal should be precisely defined and quantifiable, offering a clear direction and methods to monitor progress. The goal must be achievable and pertinent, making it feasible and aligned with the vision and mission.
The objective ought to be constrained by a specific timeframe. It must possess an unambiguous deadline for its realization. Parvez admonishes the necessity of concentrating on the broader panorama, or the grander vision. He underscores the significance of commemorating one’s accomplishments. This engenders a feeling of triumph and propels the person to persevere in the pursuit of their intended goals. In a remarkably brief span, Powerpreneurs has emerged as the most inspirational podcast in the UAE for any individual striving to attain significant success.
Parvez Rupani is distinguished by his prescience in predicting market fluctuations and adeptly pivoting his strategies accordingly. His vast background and exposure to varying cultures have cultivated his intuition for the business realm, resulting in his triumph as an entrepreneur. Rupani’s life lessons have impressed upon him the idea that one must help others succeed in order to achieve personal success. He recognizes the significance of a personal connection and understands that treating people favorably is the foundation of prosperity.
Rupani’s journey has been fraught with obstacles, with his greatest challenge being to instill faith in his vision, particularly when he was young and ambitious. Despite these hurdles, Rupani persevered, proving the worth of his vision by consistently making sound decisions based on his experience. According to him, bad decisions are integral to the learning process, paving the way for good ones. Rupani surmounted these impediments by striving for excellence and entrusting the rest to a higher power. Witnessing numerous astute businesspeople falter, he learned the value of modesty and appreciating one’s accomplishments. Through his experiences, Rupani recognized that success has many progenitors, while failure remains an orphan. He exhorts individuals to assume accountability for their failures and derives insights from them.
Revolutionizing Tax Management for SMEs
Regarding digital taxation, he expressed that the incorporation of technology can aid in implementing long-lasting tax reforms and alleviate compliance challenges in the Middle East. The advancement of digital technology and the affordability of application tools have expedited this transformation over the past decade.
In 2019, DgTx came into existence with a mission to reduce the expenses related to compliance, simplify tax procedures, and promote better adherence among small and medium-sized enterprises. The firm provides comprehensive tax management solutions to businesses through the use of innovative technology. Business owners no longer need to worry about tax-related tasks as DgTx has handled everything from VAT filing, VAT refund, bookkeeping, record-keeping, and data archiving for seven years. This allows entrepreneurs to focus on their day-to-day business operations without any tax-related concerns.
DgTx creates mobile apps for both Android and iOS platforms and utilizes cloud-based accounting software to ensure that its clients are fully compliant with the FTA regulations. With the DgTx mobile app, clients can access their inventory, sales, and purchase records anytime, day or night.
This digital taxation services firm arranges in-person visits from accountants and assigns dedicated account managers to ensure complete peace of mind for their clients. Their expertise is in aiding small and medium-sized businesses in the UAE to navigate tax payments and associated legal complexities. DgTx was recognized as the best Digital Transformation Company in the UAE by the Arabian Best of the Best Awards. Initially, DgTx had a staff of 20, but over time, they have grown to over 170 employees. They have successfully managed over 15,000 submitted cases, satisfying more than 5,000 clients. As strategic partners, Etisalat and DgTx offer comprehensive value-added and corporate tax services to businesses across the UAE from start to finish.
Choose the plan
DgTx presents a range of reasonably priced VAT filing solutions to customers of Etisalat. The selection of plans, including Standard, Silver, Gold, and Platinum, accommodates varying business structures and sizes as well as budget constraints for business owners.
Etisalat subscribers can get started with the Standard package for as little as 275 AED per month. This package includes comprehensive VAT filing and reporting services. Moreover, every plan offers access to cloud-based accounting software, the DgTx mobile app, and the DgTx snap and post feature.
The Silver package encompasses all the features of the Standard package, along with a specialized account manager and additional VAT services such as enrollment, modification, revision, review, reimbursement handling, voluntary disclosure, and inventory monitoring.
The Gold package extends its features by offering comprehensive accounting services, along with the ability to import and export files. With this plan, DgTx also ensures accurate bank and post-dated cheque reconciliations.
The comprehensive Platinum package encompasses everything mentioned earlier, including a visit from a VAT accountant and complete bookkeeping services.
Further highlighting the features, he said that DgTx provides a convenient post-paid billing alternative that enables customers to pay for their services through their monthly Etisalat bills. Companies can acquire the DgTx VAT filing plan of their choice via Etisalat and access top-notch tax filing solutions.
DgTx’s tax specialists collaborate closely with their clients to organize the tax filing procedure and ensure full tax compliance. The company keeps its clients up-to-date on the latest tax regulations and requirements, following a customer-focused methodology and presenting customized solutions that take into account all aspects of their businesses. As corporate tax debuts in the UAE’s new fiscal year, Etisalat subscribers can easily obtain tax filing services from DgTx, allowing them to prepare their tax strategies in advance.
Changing Lives Through Charitable Giving
Rupani has made significant contributions to various charitable causes and organizations, including those focused on education, healthcare, and disaster relief. His firm belief in giving back to society and making a positive impact on people’s lives has always been the driving force behind his philanthropic endeavors. Rupani’s philosophy revolves around helping others succeed before achieving personal success, which has motivated him to create numerous opportunities for people and empower them to reach their full potential.
He is not only a successful businessman but also a well-known philanthropist. He firmly believes that successful individuals must give back to society, and he has devoted his time and resources to helping those in need. Rupani has made a significant impact through his involvement with the Pakistan Centre for Philanthropy, which aims to promote transparent and effective philanthropy practices in Pakistan. By raising awareness and encouraging others to contribute to charitable causes, Rupani has played a significant role in advancing the center’s mission. He is also a supporter of various charitable organizations that offer essential services, such as healthcare, education, and emergency assistance, to people in need. Over the years, Rupani has generously donated to multiple foundations and worked tirelessly to help advance their goals.
Despite achieving great success, Rupani continues to adhere to the principles that have guided him throughout his career. He firmly believes that success is achieved through hard work, persistence, and a strong desire to help others, and he encourages everyone to adopt these principles in their own lives. Rupani generously volunteers his time for various institutions of His Highness the Aga Khan without any remuneration. His dedication to his businesses, community, and charitable causes has shown that with hard work, determination, and a commitment to making a positive impact, anything is achievable.
DGTX and Etisalat’s Innovative Solutions
As the head of DGTX, a company specializing in VAT and Corporate Tax Consultation in Dubai, he shares his insights on the challenges faced by businesses in the region. According to him, taxation is a relatively new concept in the area, with value-added tax being introduced only three years ago. The introduction of corporate tax poses a challenge since there is no proper mechanism to record sales. This can be particularly daunting for small and medium-sized enterprises (SMEs), as they will be required to keep a record of all documents and transactions for at least five years starting June 1, 2023, as part of the new corporate tax regulations.
This is where DGTX provides a holistic answer to the convoluted tax processes, simplifying them for small and medium-sized enterprises to comply. The solution includes a range of services such as point-of-sale systems, tax computations, document archiving, and even a tax agent to address any challenges that may arise.
According to Parvez, DGTX has partnered with Etisalat, the biggest telecom company in the GCC, which caters to more than 11.6 million customers, along with over 300,000 small, medium, and large enterprises and government clients in the UAE. This collaboration enables DGTX services to be added to the monthly bill from Etisalat, simplifying compliance for SMEs.
It boasts a state-of-the-art infrastructure and software system that has been sanctioned by the Federal Tax Authority (FTA). Additionally, the DGTX customer service team has a profound understanding of the specific demands of small and medium-sized enterprises (SMEs). In a recent announcement, Parvez Sultan Rupani revealed that DGTX had been appraised at $56 million in 2021. Rupani also shared his ambitious vision for the future of the company, which includes expanding into other GCC countries and broadening the scope of digital services on offer to include data mining.
He further says that, with a solid customer base, a strategic partnership with Etisalat, and ambitious plans for the future, DGTX remains the most trusted partner for any SMEs in the UAE for any VAT and corporate tax-related needs.
Building a Successful Tax Firm
Parvez has not only carved a niche for his company in the realm of tax filing but has also earned a reputation as a role model for aspiring young entrepreneurs. When asked about his thoughts on entrepreneurship, he quips, “Being an entrepreneur isn’t a cakewalk. It demands a tremendous amount of grit, perseverance, and a crystal-clear comprehension of your motivation for starting your business and what propels you towards success.”
As an individual who arrived in Dubai with nothing but a burning desire to succeed in the city of possibilities, Rupani implemented a gradual method to grow his digital tax firm. He surmounted numerous obstacles with sheer determination and an unwavering mindset.
According to him, entrepreneurs heavily rely on motivation as it propels them to overcome obstacles, chase their goals, and attain triumph. The speaker emphasizes the importance of persisting during tough times and identifies various factors that trigger motivation, such as the thrill of innovation, the drive to fix an issue, and the satisfaction that comes with making a constructive impact.
DgTx’s founder also emphasizes the importance of discovering one’s purpose as an entrepreneur. Having a distinct purpose can boost motivation and drive the pursuit of entrepreneurial objectives. It provides a profound comprehension of the reasons behind one’s actions, which can fuel the energy and passion to overcome challenging times.
“Entrepreneurship can be challenging, and setbacks are inevitable. Having a clear purpose can help entrepreneurs stay resilient despite obstacles. They can use their purpose as a source of inspiration and motivation to keep pushing forward,” says Rupani.
Parvez believes that having a well-defined purpose is crucial to maintaining focus on the most critical aspects of entrepreneurship. As an entrepreneur, it can be tempting to become sidetracked by an array of opportunities and distractions, but by having a clear purpose, one can effectively assess these opportunities in relation to their overall vision and business objectives and make informed decisions.
Resilience is another virtue entrepreneurs must practice in their daily lives, according to Rupani. “It can provide direction, motivation, and a sense of fulfillment that can help entrepreneurs build successful businesses while positively impacting the world,” concludes Rupani.
VAT and Corporate Tax Support
DgTx faces a significant hurdle in the form of competition from freelance service providers in the market. These providers offer quarterly VAT submission services at prices as low as AED100/- per submission, creating a challenge for DgTx. However, DgTx has responded by introducing two new plans for customers: the Standard Filing Plan at AED 275/month and the TRN Registration at AED 499/- as a one-time charge. DgTx aims to surpass expectations and become the top choice for those seeking support with VAT and Corporate Tax registration, return filing, compliance, and consultation for complex VAT and corporate tax issues.
Secret to True Success
He emphasized that success is not just a destination but a journey. Using the example of traveling from Dubai to Abu Dhabi, he highlighted that many people focus solely on reaching their destination and miss out on the experiences and opportunities along the way. He believes that true success is achieved when one recognizes their progress and accomplishments in the present moment and enjoys the journey towards reaching their goals. He has observed that some individuals delay their happiness and satisfaction until they achieve their goals, but by then, it may be too late to fully appreciate and enjoy their accomplishments. Furthermore, he acknowledges that in a rapidly changing world, goals can shift, making it difficult to find lasting fulfillment in a single achievement.
“The lesson of “Making someone something” is crucial if you aspire to become something yourself. You cannot reach great heights unless you uplift others. The concept of karma is at play here – if you treat people well, good things will come your way. The human touch is essential for success, and even the most prosperous individuals engage in humanitarian efforts. Therefore, from the very beginning, you must unite people and help them succeed. By doing so, you, too, will eventually achieve success. This is why even billionaires like Bill Gates establish charitable foundations – they understand that the key to growing rich is by making others rich. You must empower others and, if possible, make them work for you. Making someone else wealthy doesn’t always entail putting them in a million-dollar mansion. For some, a small home or food for their family is enough. The key is to help them attain their goals, and through this, you will accomplish yours. This is the secret to success.” proclaimed Parvez.
Envisioning a Bright Future
According to him, to succeed, you must have faith in yourself and your vision. The opinions of others should not deter you, for you must stand firm and take calculated risks. The greater the risk, the greater the reward. However, it must be a well-considered risk, not one taken recklessly. Even if ten people disagree with you, do not be swayed. Remember that knowledge is only potential power, and action is the key to success. You can read all the books in the world, but without action, you will not achieve your goals. Bill Gates is a prime example of this truth – his school teacher did not become the wealthiest person in the world, but he did. Thus, take action to turn your potential into reality and become a successful entrepreneur.
He envisions himself engaged in philanthropic work and assisting people entirely. In his own words, his objective is to provide support to others and aid in their growth by establishing funds, imparting knowledge, and creating opportunities. This is the challenge he has set for himself within the next five to ten years. However, when asked about his company’s future prospects, he offered a distinct perspective. He revealed that DGTX, which is currently valued at $150 million, is focused on catering to bulk businesses that other companies cannot target and is hence on track to become a leading taxation company in the Middle East. He believes that the company’s futuristic outlook will not be limited to its taxation services but will also extend to data mining and helping small and medium-sized enterprises thrive by utilizing the collected data. He foresees DGTX as a highly esteemed brand in three to five years, accessible at a reasonable price with exceptional customer service.
As per Parvez Sultan Rupani, who is the Chairman of DgTx, the UAE has set its sights on enhancing its tax system and positioning itself as a dominant player in the digital tax arena. It is incumbent upon the business community in the region to adopt digital taxation as a means of achieving complete tax compliance. The digital taxation ecosystem provides greater advantages to taxpayers than any other group.
