News

UAE: Expo 2020 Dubai Attendees Should Use VAT Refund Scheme

The UAE’s Federal Tax Authority has urged Expo 2020 Dubai attendees to use the VAT refund scheme.

The scheme applies to taxes paid on goods and services connected with Expo 2020 Dubai.

It has been introduced by the Authority in line with Cabinet Decision No. 1/2020.

The Authority added they have issued a comprehensive guide for official participants in Expo 2020 Dubai.

It addresses five categories of taxes which can be refunded.

The first category is VAT incurred by official participants on goods and services in direct connection with the construction, installation, alteration, decoration, and dismantling of their exhibition space. The second category is the VAT incurred by the official participants on goods and services in direct connection with the works and activities of organising and operating the official participant’s exhibition space, as well as any presentations and events taking place on the Expo 2020 site.

The third category is the VAT incurred by official participants on goods and services related to the actual operations of the official participant, provided the value of each product or service claimed is not less than 200 AED.

The fourth category is VAT incurred by official participant in connection with all operations, services and activities provided for the purpose of participation in Expo 2020 Dubai, whether located in or outside the boundaries of the Expo site.

The fifth category is the VAT incurred on the import of goods for personal use of the official participant’s section commissioner general, section staff and the beneficiaries.

The guide clarifies that to qualify for VAT refunds for expenses under the first and second category, the official participant must possess a certificate of entitlement issued by Expo 2020 Dubai, which is established by virtue of Dubai Decree No. 30/2014.

However, where the expenses are not related to the first and second category but are included in the third, fourth, or fifth, the official participant will not need to obtain a certificate of entitlement to apply for a VAT refund.

It clarifies the refund mechanism and the VAT reclaimable as well as the special case for imports certificate of entitlement. It also clarifies the eligibility criteria for the certificate of entitlement, how to apply for the certificate of entitlement and the certificate of entitlement request form and its supporting documents.

In addition, it clarifies the processing of the certificate of entitlement application by Expo 2020 Dubai, how to apply for refunds, procedures for the offices of Official Participants registered for VAT and procedures for the offices of Official Participants not registered for VAT and the supporting documents for the refund request.

Finally, it clarifies the processing of the refund application by Expo 2020 Dubai, the frequency of the refund application and payment of the tax on the sale of imported goods.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Dubai World Trade Centre Authority Approves New Single and Multiple Family Offices Licensing Regulations

The Dubai World Trade Centre Authority has announced it has approved new Single and Multiple Family Office Regulations.

The Single Family Offices Regulations allow for offshore entities, founded directly by members of a single family, to own and manage their collective wealth, assets, businesses and investments by incorporating a new Free Zone Establishment or Free Zone Company. It will be subsequently licensed to operate from the designated free zone.

The new Multiple Family Offices regulations are aimed at the increasing numbers of international professional and wealth management and advisory service industry providers who want to operate and expand their market presence and management portfolios in the region.

Multiple Family Offices licenses facilitate and enable services offered to multiple families, their members, businesses, entities, trusts and foundations.

The aim is to encourage family businesses to register as these entities.

They address the needs of family-run entities and also introduce a new platform for these entities to set-up offshore holding companies in the Zone.

It will help them manage their private family global wealth, assets and investments from Dubai. Also reported in Alroeya on 10 October 2021. For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Telecommunications and Digital Government Regulatory Authority Launches Public Consultation on Spectrum Resources

The UAE’s Telecommunications and Digital Government Regulatory Authority has launched a public consultation on spectrum resources.

It aims to get feedback on its activities related to reviewing spectrum allocation for IMT applications in certain frequency bands.

These are specifically the UHF and 3.8 – 4.2 GHz bands and 6 GHz band.

Following the feedback, the Authority will update the part on the current and future uses of IMT in the Spectrum Future Foresight document of 2020-2025 and develop directions on the uses of these bands.

A new 3.8 GHz to 4.2 GHz band may also be introduced.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Federal Authority for Identity and Citizenship to be Merged with Federal Customs Authority

Gulf News (United Arab Emirates), 6 October 2021: The UAE’s President has issued a decree to merge the Federal Authority for Identity and Citizenship with the Federal Customs Authority and the General Authority for Ports, Borders and Free Zones Security.

The merged entity will be called the Federal Authority for Identity, Citizenship, Customs and Ports Security.

They will be responsible for regulating citizenship, passports, entry and residence of foreigners in the country, promoting ports, borders and free zones’ security, raising their efficiency and readiness.

They will also be responsible for organising and managing customs work in the country in line with global standards.

In addition, they will be responsible for proposing and preparing policies, strategies and legislation related to identity and citizenship affairs, passports, entry and residence of foreigners, customs and port security along with proceeding with the relevant Cabinet approvals.

They will also be responsible for establishing, developing and updating the population registry and personal data system in the country and managing it in line with the best practices. They will be responsible for setting up systems, programmes and procedures to ensure identity cards are issued to all citizens and residents in the country as well.

Additional reporting from Khaleej Times (United Arab Emirates) on 6 October 2021.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.