Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 3 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Some sectors exempted from VAT, says FTA
December 06, 2017
 Print    Send to Friend

ABU DHABI: The Federal Tax Authority (FTA) has announced the sectors that will be subject to Value Added Tax (VAT) as of Jan.1, 2018, revealing selected sectors will be assigned zero-rated tax, such as education, healthcare, oil and gas, transportation and real estate.

According to a statement released by the FTA, selected supplies in sectors such as transportation, real estate, financial services will be completely exempted from VAT, whereas certain government activities will be outside the scope of the tax system - and, therefore, not subject to tax.

These include activities that are solely carried out by the government with no competition with the private sector, activities carried out by non-profit organisations.

The UAE Cabinet is expected to issue a Decision to identify the government bodies and non-profit organisations that are not subject to VAT.

WAM

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
VAT on gold, diamonds to be reduced, says FTA
ABU DHABI: The Federal Tax Authority (FTA) has asserted that the new Cabinet Decision issued to regulate Value Added Tax, VAT, incurred by gold and diamond dealers regist..
No VAT for gold, diamond traders
ABU DHABI: In line with the UAE Government’s efforts to ensure an efficient implementation of the Value Added Tax (VAT), while employing best international standards and ..
FTA sets Wednesday as deadline for tax returns
ABU DHABI: The Federal Tax Authority (FTA) has called on all businesses registered for the Value Added Tax (VAT), whose first tax periods end on January 31, 2018, to subm..
VAT part of final cost: FTA
ABU DHABI: The Federal Tax Authority (FTA) has said that the final reduced prices for goods on promotional offers must include the 5 percent Value Added Tax (VAT), which ..
UAE hails EU step on tax rules
ABU DHABI: The Ministry of Finance has welcomed the European Union’s decision to remove the UAE from its list of uncooperative tax havens, in recognition of the transpare..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright