Dubai Media City, Dubai Studio City, Dubai Production City Host VAT Workshop Series for Business Partners
Tuesday VAT Clinics aim to educate brands across the media sector on segment-specific VAT issues
Dubai-UAE: 11 June, 2018 – Dubai Media City, Dubai Studio City and Dubai Production City have organised a series of workshops for their business partners, aimed at raising awareness about the impact of VAT on the diverse creative community based across the three business parks.
Held in collaboration with Morison Menon Auditors & Business Advisors, the complimentary Tuesday VAT Clinics are taking place over four weeks, with each exclusive, segment-specific workshop focusing on issues related to the introduction of VAT in January 2018. The series seeks to educate companies in the media sector about current tax rules and regulations, correct VAT implementation, and the maintenance of related records.
Highlighting important points for businesses to keep in mind when filing VAT returns, the workshops include a VAT impact analysis for each sector. The sessions feature an interactive component that encourages in-depth discussions between speaker and participants, and facilitates a comprehensive understanding of the subject.
Majed Al Suwaidi, Managing Director of Dubai Media City, Dubai Studio City and Dubai Production City, said: “Our media communities are committed to supporting the next phase of economic diversification in UAE. It is our endeavour at Dubai Media City, Dubai Production City and Dubai Studio City to provide our business partners across the media value chain with access to an enabling industry ecosystem – one that helps them evolve, flourish and build synergies with like-minded community members. The new Tuesday VAT Clinics initiative is a prime example of this approach.”
He added: “We are delighted to collaborate with Morison Menon on this worthwhile initiative. The impact of VAT across the media sector varies considerably, and our workshops offer companies an opportunity to keep up to date with the key changes under the guidance of industry experts.”
Vishal B Thakar, Manager of Indirect Taxation at Morison Menon, said: “With VAT being introduced in UAE, every business is faced with an array of questions with regards to the impact of the VAT Laws & Regulations and the media sector is no different. When we talk about the media and production industry, it is pertinent to note that each sector has a diverse set up in terms of the products and services it provides. Also, each business scenario has different VAT implications, thereby making it necessary for businesses to adopt a holistic approach to ensure that they are VAT compliant. With this collaboration, we at Morison Menon aim to provide specific insights on how VAT impacts each sector of the media industry so that the industry may safeguard itself from administrative penalties.”
The series kicked off with a workshop aimed at the Film and Production community, with sessions for Events Management set to run on 5 June, Media and Marketing / Consultancy scheduled for 12 June, and Publishing / Print and Packaging confirmed for June 19.
To register for one of the upcoming sessions, taking place over the next three Tuesdays from 10am to 12 noon, please email email@example.com
Dubai Media City
Dubai Media City is the region’s largest community dedicated to the media industry. With its diverse portfolio of local and international companies representing traditional and new media industries, marketing and communications as well as support services, Dubai Media City offers a well-connected industry network, strategic location and state-of-the-art infrastructure that enable businesses to flourish. The vibrant community includes a wide range of retail and dining options in addition to a host of world-class residential and hospitality facilities.
About Dubai Studio City
Dubai Studio City, established in 2005, is a regional platform for companies within the broadcasting, filmmaking, media production, and entertainment sectors. DSC is home to regional and global powerhouses, and supports several industry events and activities. With an aim to foster innovation and increase knowledge in the entertainment sector, DSC also provides world-class training opportunities for local and international talent. Previously, the community has also contributed to blockbuster movies such as Star Trek Beyond and Mission Impossible: Ghost Protocol.
Dubai Production City
Dubai Production City is a leading regional business hub that facilitates growth within the light industrial manufacturing community. Launched in 2003, Dubai Production City also supports key sectors of publishing, printing, packaging, graphic design, new media and exhibitions. It offers a smart infrastructure to its business partners, from state-of-the-art commercial offices, warehouse space and easy accessibility. Dubai Production City is also home to the in5 Media Innovation Centre, a platform that nurtures ideas and businesses to their next phase of growth. The holistic community combines unique businesses, as well as residential, retail and lifestyle offerings.
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