Workshop on VAT compliance
Familiarising retailers in the country with the forthcoming value-added tax, VAT, was the underlying topic of a workshop organised recently by the Dubai Chamber of Commerce and Industry in cooperation with the UAE's Federal Tax Authority. The mandatory registration procedures associated with the new tax were thoroughly addressed as well during the workshop, which was attended by over 400 participants representing various retailers in the UAE.
The function was part of the second phase of joint efforts by the Ministry of Finance and the Authority's tax awareness programme, which aims to keep the UAE's business community informed on new tax laws and compliance procedures.
Khalid Ali Al Bustani, FTA Director General, said, "This workshop marked the beginning of the 2nd phase of the tax awareness campaign launched by the Ministry of Finance and the Federal Tax Authority back in March, which was successful in achieving its objectives of educating retailers in the UAE about tax procedures, businesses' tax obligations, the FTA's role in the implementation process, and the VAT's contribution towards a more sustainable and diversified economy."
