DUBAI: Ministry Of Finance Launches Phase One of Tax Awareness Workshops in the UAESource: www.export-egypt.com 3/21/2017, Location: Middle East |
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The UAE Ministry of Finance has launched the first phase of its awareness and education workshops that will prepare businesses for the new tax system that will be introduced by the end of this year, in the case of excise tax, and early next year for value-added tax, VAT.
As the UAE prepares to introduce both taxes at around the same time as the rest of the GCC, the workshops will ensure that businesses fully understand the new system and that they have the knowledge they need to take the necessary measures to comply with the new tax laws and procedures.. Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, said, "The Ministry of Finance adheres to the highest standards of quality, transparency, and efficiency in its efforts to provide businesses with the necessary knowledge and tools to comply with the new tax system. . These workshops also serve to underline the importance of the new tax system as a necessary step towards securing a sustainable future for the UAE, while making sure businesses are fully prepared to file their tax returns and adapt to the new tax law. The first workshop targeted ‘multipliers’ – government entities such as chambers of commerce and departments of economic development, and the consultancies and partners.. The workshop was held in Dubai and attracted more than 500 attendees, and explored the new tax system from various angles, detailing the supporting role that various stakeholders are expected to play as the system enters its implementation phase. |
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