Abu Dhabi: The Ministry of Finance has announced the issuance of Cabinet Decision No. (127) of 2024, expanding the application of the Reverse Charge Mechanism to include precious metals and stones among VAT-registered businesses in the UAE. This decision repeals the earlier Cabinet Decision No. (25) of 2018 on the application of VAT on gold […]
The growth in tax refund requests from tourists follows a boom in the tourism sector and an upgrade to the digital tax refund system. Abu Dhabi: The Federal Tax Authority (FTA) asserted there has been considerable growth in the volume of transactions processed through the digital Value Added Tax (VAT) refund system for tourists in […]
Abu Dhabi: Pursuant to a resolution issued by the Cabinet, the Ministry of Finance (MoF) announced the amendment of the VAT treatment on workmanship services when supplying gold and diamonds between Registrants in the State. According to the resolution, there will be a temporary replacement for the definition of “goods” contained in Article (1) of […]
UAE: UAE has amended certain provisions to the value-added tax (VAT) rules, effective from January 1, 2023. WAM reported that “the UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT).” The changes reportedly come in light of the GCC Unified VAT Agreement, […]
