26 September

Value Added Tax (VAT)

FMA VAT Services in dubai, ras al khaimah, sharjah

Value Added Tax or VAT is an assessment on the utilization or utilization of merchandise and enterprises collected at each purpose of offer. Value Added Tax (VAT) was presented in the UAE on 1 January 2018. The rate of VAT is 5%.

VAT will be charged at 0% in respect of the following main categories of supplies:

  • Exports of goods and services to outside the GCC States that implement VAT
  • International transportation, and related supplies
  • Supplies of certain sea, air and land means of transportation (such as aircrafts and ships)
  • Certain investment grade precious metals (e.g. gold, silver, of 99% purity)
  • Newly constructed residential properties, that are supplied for the first time within 3 years of their construction
  • Supply of certain education services, and supply of relevant goods and services
  • Supply of certain Healthcare services, and supply of relevant goods and services

The following categories of supplies will be exempt from VAT:

  • the supply of some financial services
  • Residential properties
  • Bare land
  • Local passenger transport

2020 FMA Auditing. All rights reserved.

Call Now ButtonCall Now