The Abu Dhabi Chamber of Commerce and Industry, in co-operation with the Federal Tax Authority, last week organised a workshop in Abu Dhabi on applying the value-added tax (VAT) system in the UAE.

The workshop, titled "VAT for Real Estate Sector and Registration Mechanism", aimed at spreading awareness among real estate companies on the impending VAT application in the country, said a Wam news agency report.

Abdullah Al Qubaisi, deputy director-general of the Abu Dhabi Chamber, said: "The first workshop on the new VAT system witnessed unprecedented attendance with more than 600 people, who represent different private sector companies, attending the workshop.

"Through this workshop, we aimed to spread awareness among real estate developers and companies about the value-added tax in this sector and exchange ideas and points of view as well as answer their queries," he added.

Sarah Al Habshi, head of the tax section at the Federal Tax Authority, said the tax law will be published during the third quarter of 2017, whereas the executive procedures will be released in the fourth quarter of the year.

She noted that the website of the Federal Tax Authority will be ready within two weeks and will include a manual on registering electronically through an e-portal, which will be launched in the coming period. She also informed that when a company registers in the tax system, it will receive a tax reference number.

"Registration takes approximately 15 minutes," she added.

Al Habshi pointed out that there will be special rules for the real estate sector since within the sector there are things that can be considered as supply and others that can be called services, the report added.