Tax-News.com: UAE To Exempt Residential Property From VAT

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Tax-News.com: UAE To Exempt Residential Property From VAT, by

Tax-News.com: The United Arab Emirates' Ministry of Finance has confirmed that residential property will be exempt from the Gulf Cooperation Council value-added tax when it comes into force in January 2018, but that a five percent rate will apply on sales or leases of commercial property.


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The Federal Tax Authority (FTA) has defined that commercial property will be subject to the five percent value-added tax (VAT), with residential units largely exempt. The UAE is some property is exempt from the VAT