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UAE Internet Firm Hoping To Cash In On EU VAT

by Lorys Charalambous, Tax-News.com, Cyprus

16 October 2003


The recent decision by the European Union to impose VAT (Value Added Tax) on transactions conducted over the internet could well be to the advantage of web hosting firm Emirates Internet and Multimedia, which is trying to attract firms from within the UAE to use its online services.

"Many companies throughout the region have traditionally hosted overseas, in the US or Europe," Maroua Naim, general manager of EIM told Gulf News.

"Besides the obvious problems this creates due to time and physical boundaries that hamper effective technical support, the additional VAT charges of hosting abroad are also becoming a concern," he observed.

To tempt firms from within the Emirates to use its services, EIM is currently offering a two-month free web hosting promotion which could save users up to Dh1,390 ($380) provided they apply for the promotion before November 12 this year.

In addition, all firms participating in the programme will be supplied with free registration on the '.ae' domain for the duration of a year.

A comprehensive report on offshore e-commerce, including details of the facilities and applications available in a number of top jurisdictions, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop 

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