UAE VAT Executive Regulations: Key Amendments and Their Impact

• The Federal Tax Authority (FTA) of the UAE amended provisions of the UAE VAT Executive Regulations.
• The term virtual assets is defined as a digital representation of value that can be digitally traded or transferred and can be used for investment purposes.
• A supply of goods includes transfers of ownership or the right to dispose of goods, either through written or verbal agreements, as well as compulsory transfers in exchange for consideration.
• Certain transactions, such as the transfer of ownership or disposal rights to government buildings, real estate assets, and similar projects, are not considered supplies.
• The value of the goods that are supplied to each recipient may not exceed AED 500 within a period of twelve months.
• Direct or indirect exports of goods are eligible for a zero rate if specific conditions are met.
• The export of services may qualify for zero rating if they are not considered performed within the UAE or a designated zone.
• Debt security includes any legal right or interest in receiving money owed by another party, such as options to acquire such rights.
• The term equity security refers to the legal rights or interests that are held in a company.

Source: jdsupra.com

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.

---

---