How will VAT be applied on properties in the UAE?

December 18, 2017 2:40 pm


Must read: What are zero rate and exempt supplies when it comes to UAE VAT?

Check this: The VAT infographic your business cannot afford to miss

The Federal Tax Authority (FTA) has clarified that all owners of commercial buildings, developers, providers of services to the commercial or residential property sector should register before 31 December 2017 if their taxable supplies made and imports received exceed AED375,000 for the last 12 months.

Once registered, businesses need to ensure compliance with the tax obligations, such as displaying the words “Tax Invoice” and TRN on all invoices, submitting tax returns, paying tax, etc.

Here is an infographic that helps explaining VAT treatment of properties in the UAE:

Source: The Federal Tax Authority

 

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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