The commodity trade market is significantly developing in the United Arab Emirates (UAE), however, the current tax legislation does not address the developments as most of these are non-tax related. As a result, there are a range of potential risks areas that commodity market participants in the UAE should be aware of.
Given the above, we hosted a webinar in collaboration with the Dubai Multi Commodities Centre (DMCC) that took place on Wednesday, 9 March 2022. The aim of this session was to help businesses identify the potential risks for commodity market participants, as well as effective risk mitigation actions. Our tax experts covered the following key topics:
- Developments in the commodity trade market in the UAE;
- Potential tax risks;
- Risk mitigation actions; and
- Why now?
Our panel of tax experts also discussed and provided an analysis on the developments, challenges, and next steps your business should be considering in order to safeguard itself from tax risks.
Speaker
Fernand Rutten
Fernand is the Middle East Tax COO, delivering impact how and where it matters most for our Tax clients, talent, and community in the region. Fernand is also the Middle East Customs and Global Trade Advisory Leader and is based in the United Arab Emirates (UAE). Fernand has more than 30 years of experience in indirect tax, with a strong focus on Customs, excise taxes and global trade matters. In 2010, Fernand became the Global Leader for Global Trade Advisory at Deloitte, working with a group of over 800 subject matter experts around the globe serving clients in both the public and private sectors on customs and global trade matters. He regularly advises on projects relating to business model optimization, automation (customs and excise solutions), compliance, export controls, excise, litigation, valuation, origin, customs classification, data analytics and trade automation/technology. Before becoming a consultant, Fernand worked as a Customs Official with the Dutch Customs Authorities. He assisted several clients in a variety of cases including leading a PAN-European project on e-Customs and Authorized Economic Operator (AEO), excises and international trade matters and indirect tax IT solutions.
