VAT on Purchase of Motor Vehicle for Business Purpose
Article 53 of the Executive Regulation which deals with Non-recoverable input tax cases, states that Input Tax is not recoverable where a motor vehicle was purchased, rented or leased for use in the Business and is available for personal use by any Person.
The word ‘motor vehicle’ means a road vehicle which is designed or adapted for the conveyance of not more than 10 people including the driver. A motor vehicle excludes a truck, forklift, hoist, or other similar vehicle.
Source GCCFintax
Latest Posts in "United Arab Emirates"
- UAE VAT Guide for Cross-Border Amazon FBA Sellers
- UAE E-Invoicing Rollout: Multinationals Must Prepare for 2027 Implementation
- UAE Expands VAT Refund Services for Tourist Online Shopping Across Digital Platforms
- UAE E-Invoicing: Transforming Business with Digital Solutions and Compliance Benefits
- UAE Unveils Gradual Implementation Plan for National E-Invoicing System
