ADNEC unveils ‘industry boosting’ VAT refund for international events
Abu Dhabi National Exhibitions Company (ADNEC) has secured a VAT refund for international organisations holding events at its venues across the UAE.
Effective immediately, the exemption covers exhibitions and conferences not exceeding seven days in length whose owners don’t have a permanent base or business in UAE.
The waiver also stipulates that recipients, including conference participants, shall not be registered or obliged to register in UAE as per the country’s VAT law.
Humaid Matar Al Dhaheri, Group CEO of ADNEC, said: “The refund for ADNEC-hosted event organisers and participants will stimulate the business tourism sector in the UAE through enhancing the competitiveness of our venues to host major international exhibitions and conferences. This move supports our strategy to attract world-renowned events to our venues and increase our contributions to the economy of the emirate of Abu Dhabi.”
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 welcoming nearly 17.5 million visitors to date, our venues – Abu Dhabi National Exhibitions Centre and Al Ain Convention Centre – have delivered a direct and indirect economic impact of more than AED32 billion since ADNEC’s inception in 2005.”
Published Date: 13/06/2019