DUBAI
The Dubai Chamber of Commerce and Industry will host two workshops in cooperation with the UAE’s Federal Tax Authority (FTA) that will provide businesses in Dubai with guidelines for complying with the forthcoming GCC-wide value-added tax (VAT), the chamber said in a statement on Thursday.
According to the announcement, the workshops will aim to familiarise the business community with the concept of VAT, the registration and implementation process associated with the new tax, and its potential impact on the UAE’s business community.
They will also provide an opportunity for business owners and executives to raise questions they may have about the implementation of the new tax.
The first workshop will be held on August 8 at Dubai Chamber’s premises that will cover compliance within the UAE’s retail sector, as well as the steps that should be taken during the mandatory VAT registration process. The second workshop will then be held on August 22, which will be attended by importers and exporters.
Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said in a statement: “The tax awareness workshops’ aim is to keep the UAE’s business community informed on new tax laws and compliance procedures.”
He added: “We are working with government institutions in the country, including chambers of commerce to host these workshops and educate businesses on the implementation of the new tax laws and compliance requirements detailed in the Federal Tax Procedures law, in addition to the objectives of introducing indirect taxes in the UAE to support stability and economic diversification through sustainable sources of revenue to finance major infrastructure projects and provide high quality services in the country.”
