VATupdate

New Residence VAT Refund Scheme for UAE Nationals

Construction of a building is a taxable supply under the UAE Vat Law. Hence, when a person constructs even a residential building, he has to pay tax for the expenses incurred during construction which includes building materials, contractor’s bill and many. Under the Vat Refund Scheme for UAE nationals the tax paid for constructing the new residence can be refunded with certain conditions.

Source: xpertsleague.com

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