Comprehensive Guide to VAT in UAE: Understanding Standard, Zero-Rated, and Exempt Supplies

VAT is an indirect tax imposed on goods and services in the UAE
VAT was introduced in the UAE in 2018 at a standard rate of 5%
The Federal Tax Authority (FTA) manages and collects federal taxes in the UAE
Types of supplies in VAT include standard rated, zero rated, and exempt supplies
Import of goods and services into the UAE is subject to VAT of 5%
Exempt supplies under UAE VAT law include certain financial services and supply of residential units

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.