Abu Dhabi National Exhibitions Company (ADNEC) today announced that it has obtained the FTA License for waiver from Value Added Tax (VAT) for all international companies and organizations participating in or holding shows and conferences at its events across the UAE with effect from 1 June, 2019 .
The VAT waiver covers exhibitions and conferences held over a period not exceeding seven days. The waiver also stipulates that participants shall not have a permanent base or established business in UAE and will not be registered or obligated to register in UAE as per the UAE VAT Law .
Speaking on the development, Humaid Matar Al Dhaheri, Group CEO of ADNEC, said: “The VAT waiver for ADNEC-hosted event organizers and participants will further stimulate the business tourism sector in the UAE through enhancing the competitiveness of our events to host major international exhibitions and conferences. This move supports our strategy to attract new and world-raised events to our terms and increase our direct and indirect contributions to the Abu Dhabi economy . ”
He added: “The business tourism sector is a major contributor identified by Plan Abu Dhabi and Abu Dhabi Economic Vision 2030 to accelerate non-oil GDP growth. Through hosting more than 3,390 events and approaching nearly 17.5 million visitors to date , our events – Abu Dhabi National Exhibitions Center and Al Ain Convention Center – have delivered a direct and indirect economic impact of more than AED32 billion since ADNEC’sception in 2005. “
