Individuals now have another reason to cheer on at this new year. Effective January 1, 2023, functions of a member of a board of directors performed by a natural person will no longer be treated as a supply of services. The remuneration received by the individuals to perform director’s functions will thus be outside the scope of VAT.
Source: khaleejtimes.com
Latest Posts in "United Arab Emirates"
- Cabinet Decision No. 100 of 2025: Key Amendments to VAT Executive Regulations for E-Invoicing
- Refund Scheme for Business Visitors
- RTC Webinar: UAE e-Invoicing: A Corporate Perspective on the Mandate and Opportunities, 25 September | 4 – 5 PM (Dubai)
- Guide to Using FTA’s Maskan Supplier Portal for VAT Refunds on New Homes
- UAE eInvoicing Guide: Key FAQs for Business Compliance and Transition
