![Intricacies of Designated Zone in UAE and it's VAT and Customs Obligations](https://fintedu.com/pluginfile.php/2697/course/summary/fintedu_Intricacies%20of%20Designated%20Zone%20in%20UAE%20and%20its%20VAT%20and%20Customs%20Obligations.jpg)
learn about the complexities of VAT regulations in Free Zones and Designated Zones in the UAE, including the criteria for classification, VAT treatment for various transactions, and the importance of compliance with customs and tax regulations. Understanding these concepts is crucial for businesses operating within these zones to ensure compliance and optimize their tax positions.
Module Outline:
1. What is the implication on VAT for business having establishment (licence) in Free Zone?
2. What's the Classification of Special Economic Zone (Designated Zone) for tax benefit?
3. What makes a Free Zone classified as a Designated Zone (Special Economic Zone)?
4. What is the linkage of Designated Zone with Customs and its VAT implications.
5. Designated Zone, category and its impact for Goods trading and Services in UAE.
6. Tax Impact & treatment for:
- The transfer of Goods between Designated Zones.
- Supply of Goods made between two Designated Zone companies.
- Import of Goods in Designated Zone.
- What is the scenario for Designated Zone company to be classified as Export & when it is classified as "Out-of-scope"?
- Designated Zone company sells goods to the mainland entity in UAE:
- Scenario A: Goods are imported (custom cleared) by Mainland Company
- Scenario B: Goods are imported (custom cleared) by Designated Zone Company.
- Importance of considering ownership transfer from Designated Zone company to Mainland company, and VAT impact.
7. Tax treatment of goods sold by Mainland company to a Designated Zone Company.
8. VAT treatment of third port shipment transaction between two UAE Companies.
ABOUT THE TRAINER
![Rajiv Hira](https://fintedu.com/pluginfile.php/2697/course/summary/WhatsApp%20Image%202024-04-23%20at%2017.16.26%20%282%29.jpeg)
CA. Rajiv Hira
CA. Rajiv Hira, A practicing Chartered Accountant, with an experience of leading roles in private and multinational financial institutions for over 20 years. Extensive expertise in strategic and tax advisory, ERM (Enterprise Risk Management) implementation, process design - review across credit risk & operational risk, audit function, regulatory engagement, Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). Experience of working in Asia, Africa & Middle East.