UAE – Mubasher: Abu Dhabi National Exhibitions Company (ADNEC) on Thursday announced that it has obtained Federal Tax Authority (FTA) License for waivers from the value-added tax (VAT).

The new license will enable ADNEC to exempt all international companies and organisations participating in or holding shows and conferences at its venues across the UAE as of 1 June from the VAT.

"The VAT waiver for ADNEC-hosted event organisers and participants will further stimulate the business tourism sector in the UAE through enhancing the competitiveness of our venues to host major international exhibitions and conferences,” group CEO of ADNEC Humaid Matar Al Dhaheri said.

The VAT exemption covers exhibitions and conferences held over a period not exceeding seven days on the condition that the recipients do not have a permanent base or established business in UAE and that they are not registered or obliged to register in UAE as per the UAE VAT Law.