The Ajman Chamber of Commerce and Industry has organised a workshop in cooperation with the UAE Federal Tax Authority, FTA, to familiarise the business community in the emirate with the forthcoming Excise Tax as well as relevant mandatory registration procedures.

"The Chamber is totally committed to supporting all efforts aimed at ensuring the enforcement of the new tax system in harmony with the vision of the wise leadership of the country which is aimed at reinforcing the sustainable economic diversification drive in the country," said Ahmed Khalifa Al Mowaijei, Director of the Chamber's Legal Services Department.

"The main objective of the new tax is to diversify income streams in order to ensure sufficient financing to infrastructure development and public service enterprises," he added.

The workshop touched on the rules and regulations governing the excise tax and ways of enabling the retail sector to keep abreast of the ins and outs of both the Excise Tax and Value-Added Tax, scheduled to come into force effective January 1st 2018, he noted