As a common mechanism for collecting “added” goods from the Istanbul Convention for Provisional Admission

Media In – Abu Dhabi, July 15,

The Federal Customs Authority, with the Federal Tax Authority, the Dubai Chamber of Commerce and Industry, and the local customs departments, considered the treatment of goods included in the Istanbul ATA Carnet Agreement in light of the application of the value added tax system and the role of customs and taxes in applying the tax and collecting the percentage of guarantee stipulated in the agreement in case of irregularities. The challenges facing the introduction of value added tax on goods included in the Istanbul Convention on Provisional Admission, the mechanism for the successful implementation of VAT and the collection of the guarantee in the light of international best practices to ensure the rights of the State and traders alike were reviewed. “The presence of customs rules and a clear tax for traders and importers contributes to the competitiveness of the national economy and supports the position of the country in the global competitiveness indicators, as well as being one of the main attractions for foreign investment,” said Mohamed Bouaseiba, Director General of the Federal Customs Authority. He pointed out that the UAE is one of the pivotal countries in the implementation of the Istanbul Convention for temporary admission in the light of the great growth witnessed by the trade sector in the country and the promotion of the establishment of trade exhibitions, industrial and agricultural of an international nature and the consequent growth of the tourism sector, pointing out that the UAE is one of the first Gulf countries Which signed the Istanbul Agreement at the end of 2010 in fulfillment of its obligations towards the implementation of the decision of the GCC Committee on Financial and Economic Cooperation at its 82nd meeting to approve the accession of GCC States to the Istanbul Convention for Provisional Admission. He pointed out that the customs sector in the country plays an important role in supporting the financial system and tax policy of the state by controlling the movement of goods and exchanging data on goods and goods imported and in possession of passengers and collecting customs duties in addition to joint work teams with the Ministry of Finance and the Federal Tax Authority and related parties. The World Customs Organization (WCO) has praised the State’s keenness to implement the Convention and to implement the obligations contained therein and to complete the procedures for accession to the Convention as soon as possible.