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12 Nov
2017

Abu Dhabi hosts key workshop on VAT regulations

 
 
The Department of Finance (DoF) – Abu Dhabi recently held a workshop to discuss the latest developments on financial systems and regulations related to government procurement frameworks, and introduce different government entities to the updates on VAT and tax regulations.

More than 500 representatives from 70 government entities in the emirate attended the event.

Riyad Abdulrahman Al Mubarak, the chairman of DoF – Abu Dhabi, highlighted the department’s commitment to implement initiatives which help achieve the Abu Dhabi Plan and Abu Dhabi Economic Vision 2030.

He also stressed DoF- Abu Dhabi’s belief in the importance of establishing unified policies and procedures that are characterised by the highest level of professionalism, integrity and efficiency, and aligned with Abu Dhabi’s government financial system.

The workshop covered three different topics including: value added tax (VAT), the draft pricing manual for government services, and the programme to develop the government procurement system.

Participants also had the opportunity to inquire about various elements presented during the workshop, where experts in the field offered the required answers to ensure government entities’ understanding of the topics and their commitment to implement the highest international standards in their work.

"It is important to prepare government entities to manage government financial work by following a precise methodology that is based on legal and scientific aspects to prove effectiveness," remarked Al Mubarak.
 
"These steps help in achieving the government vision to build a secure, economic sustainable community with a competitive advantage, and ensure a prosperous future for generations to come," he added.




Source: Trade Arabia
 

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