Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
 Print  Send This Page
Save Listen to this Article
DCCI hosts workshop on VAT compliance   

Gulf Today - 11 August, 2017

The Dubai Chamber of Commerce and Industry (DCCI) on organised and hosted a workshop in co-operation with the UAE’s Federal Tax Authority which aimed to familiarise retailers in the country with the forthcoming value-added tax (VAT), as well as mandatory registration procedures associated with the new tax.

The workshop, hosted at the Chamber’s premises, was attended by over 400 participants representing various retailers in the UAE.

The event is part of the second phase of the joint effort by the Ministry of Finance and the Authority’s tax awareness programme, which aims is to keep the UAE’s business community informed on new tax laws and compliance procedures.

Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said: “This workshop marked the begining 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.” The FTA’s Director General thanked Dubai Chamber for its support in organising and hosting the workshop, and emphasised the important role that the Chamber plays in keeping businesses in the emirate informed about important regulatory developments. He added that the future workshops would be hosted to raise awareness about the UAE’s new tax system in other economic sectors and help them prepare for VAT before it comes into effect in January 2018.

Atiq Juma Nasib, Senior Vice President of Commercial Services at Dubai Chamber said: “Hosting these types of workshops is a crucial part of raising awareness about the requirements that UAE-based businesses will need to fulfil to prepare for VAT. The highly attended first workshop reflects a maturing private sector that is keen to keep pace with regulatory changes in the country.”

Nasib stressed the Chamber’s commitment to supporting the development of business in Dubai, and enhancing the competitiveness of the emirate’s private sector, adding that the organisation plays a critical role as bridge between the public and private sectors.

A second workshop on VAT compliance for importers and exporters will be held at the Chamber’s premises on Aug.22, 2017.

Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
 
  Other Top News
Saudi financial reserves keep pressure off the currency peg
Saudi Arabia is under no pressure to ditch the currency peg to the dollar thanks to its currency reserves...
Abu Dhabi non-oil trade with 4 GCC states hits Dhs11.33b
The Emirate of Abu Dhabi's non-oil trade with four GCC states hit Dhs11.33 billon during the first five months of the year, with the Kingdom of Saudi Arabia coming on top of the emirate's Gulf trade partners...
Kuwait current account surplus narrows in Q1
Kuwait's current account surplus fell for the first time in three quarters at the start of 2017, narrowing from KD600 million ($1.98 billion) in the fourth quarter of 2016 (4Q16) to KD300 million in 1Q17, a report said...
Central Bank of Oman bats for financial inclusion
The Central Bank of Oman (CBO) is strongly advocating for financial inclusion in the Sultanate by encouraging commercial banks to ramp up the provision of banking services to under-served sections of the community, as well as in under-banked areas of the Sultanate...
Iran's daily gas exports hit 42mcm
National Iranian Gas Company (NIGC) Managing Director Hamid Araqi announced that the country's gas export has hit 42 million cubic meters (mcm) per day, Shana reported on Tuesday...
Wed Aug 23, 2017| 30-ذو القعدة-1438هـ
Syria expands anti-Daesh operations
Riyadh celebrates first Saudi Women's Day
UAE summons Iran's diplomat
Trump turns up the heat on Iran, but no clear game plan yet
Qatar tops world in BMI index for investment attractiveness
Qaeda kills Yemen police, targeted in US raid
Iran targets $8.6bn of refinery deals with Asia firms
UN chief: Syria dialogue must focus on transition for success
US President Trump strongly supports Iraq - envoy
DGCX traded 1.37m contracts valued at $33b in January
Iran rejects 'baseless' warning from US on missile test
GCC consumers spend $9.3 billion on beauty, personal care products
HM King hails parliament's role
Saudi sentenced 7 years in prison for entering Syria, joining Al-Nusra
AD CP, Emir of Qatar discuss ties

Araa Mobile App

 ios

silver-apple-logo

android

small-Android_logo

 
  Op-Ed
More>>  
    Reports
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
World Environment Day: Time to Reconnect with Nature in GCC
UAE'S NON-OIL TRADE HITS DHS1.2 TRILLION
The Benefits of NATO-GCC Strategic Ties
    GRC Commentary
The Trump Visit to Saudi Arabia: Time for a Course Correction
Environmental Education Must for GCC Countries
Climate COP 22 in Marrakech Important for the Region
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Skillfull Survivals
The GCC and the Global Oil Market in 2016
GCC and Regional Issues
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
GRC Publication
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   27-- 27 Middle Page :0  --   | Right : 27 - 27-nonexist-en--sess-enreq-en-coming