AJMAN: The Ajman Chamber of Commerce and Industry (ACCI) in the presence of Abdullah Al Muwaiji, the Chairman, organised a workshop on the value added tax to identify the sectors and commodities that will not subject to it, as well as the taxable sectors, its objectives, importance, mechanisms and documents required.

Salem Al Suwaidi, Director General of the ACCI, also attended the session, along with the staff of the Chamber. While, it was delivered by Dr. Waleed Radhi, Tax Consultant.

The workshop discussed the definition of the VAT, its mechanisms, calculation and recovery, especially with regard to the real estate, leasing, trade and services sectors. It also explained the steps of filing tax returns. The session saw many interventions and questions answered by the lecturer. The attendees praised the importance of the workshop and its role in VAT education.

It further discussed the goals of VAT, its expected output in general, the mechanisms, as well as the impact of the law and the competitive advantages. Furthermore, the lecturer explained the registration steps, fee calculations, tax application areas and other technical matters to apply the tax, pointing to the most important challenges that companies may face and how to overcome them. Commenting on the workshop, Abdullah Al Muwaiji affirmed that Ajman Chamber is keen to raise awareness of public on the VAT.