- The UAE has updated its VAT law, affecting businesses in exports, financial services, and digital assets.
- Export zero-rating now has revised rules and documentation requirements for goods and services.
- Investment fund management services are exempt from VAT, and digital asset/currency transfer and conversion services are also exempt retroactively from January 1, 2018.
- New guidance clarifies VAT treatment for composite supplies.
- Deemed supply thresholds were updated from November 15, 2024, including AED 500 for goods and AED 250,000 output tax for government entities or charities.
Source: nrdoshi.ae
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.
Latest Posts in "United Arab Emirates"
- FTA Issues VAT Guidance on Deemed Supply Service Valuation
- FTA Guidance on VAT Treatment of Digital Currency Conversions into AED
- FTA Guidance on VAT Treatment of Life Insurance Fees and Charges
- FTA Directive Clarifies VAT Treatment of Judicial Expert Services
- UAE VAT Apportionment Rules Change for Tax Years After October 1, 2027
