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Dubai Customs launches Trader Export Report service to enhance compliance, abidance and revenues

August 1, 2021
finance & economy

DUBAI, 31st July, 2021 (WAM) -- Within their continuous efforts to support trade activity in Dubai to help businesses overcome the challenges and boost their revenues, Dubai Customs, in cooperation with the Federal Tax Authority (FTA), launched the Trader Export Report service. The new service will help clearance and shipping agents achieve Zero Rating of supply of goods exported within 90 days of exportation date, regardless of the Importation date.

The service was launched virtually in the presence of Ahmed Mahboob Muabih, Director General of Dubai Customs, and Khalid Ali Al Bustani, Director General, FTA, along with Dubai Customs’ executive directors and heads of customs departments and centers.

Traders have to meet all the Zero Rating requirements including having an exit certificate and commercial documents that prove exportation process, and exporting the shipment within the specified time frame. This service applies only to imported goods that will be exported later and not to goods possessed locally.

Ahmed Musabih expressed gratitude to the FTA for their dedication and outstanding efforts to help develop the trade sector and increase revenues. 'The service is meant to provide best trade and customs facilities to traders and businesses to help them increase mutual trade between Dubai and the rest of the world. This will help in fulfilment of national plans and projects and support Dubai 5-year plan of increasing Dubai external trade to AED2 trillion. Dubai non-oil external trade grew 10 percent in Q1, 2021 to AED354.4b compared to AED323b in Q1, 2020. This includes AED150m for exports and re-exports.'' 'This service is one of many facilities that Dubai customs provide to help augment growth in external trade, attract more investments into the emirate, and consolidate Dubai’s global position as a preferred hub for business and tourism following the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.'' 'The launching of the new service has come in the right time with the emirate preparing to launch EXPO2020; the most important economic event in the world. It will not be only an opportunity to exchange creative ideas and projects, but a vital means to help with the global recovery from the repercussions of Covid-19. We served the grand event by launching a number of initiatives including a dedicated customs channel,'' he added.

Commenting on the launch of the new service, Khalid Ali Al Bustani, FTA Director-General said: 'The Trader Export Report service is very promising, and is a good example of fruitful cooperation between local departments and federal authorities to enhance economic development and trade facilitation following the leadership’s wise vision. The creative platform will help raise compliance and abidance. I heartily thank Dubai Customs’ team for their dedication and honest efforts in making this creative service a reality.'

wam

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