Like every other industry in the UAE, real estate businesses must also consider the VAT implications on business transactions. Real estate players should understand that special rules of VAT apply to mixed-use developments, for which they can seek the advice of VAT consultants in Dubai. As per the regulations of VAT in the UAE, a building will be considered a mixed-use development if different portions of it are being used for different purposes.
The VAT liability on the supply of mixed-use developments varies from that of residential buildings and commercial buildings. Businesses focusing on mixed-use development should clearly understand this difference to accurately file VAT returns in the UAE. It is advisable to consult with tax agents in Dubai to properly assess the VAT liability on Mixed-Use Developments. In this article, you can have a detailed explanation of the VAT on the supply of Mixed-Use Developments:
Source: jcauaeaudit.com
Latest Posts in "United Arab Emirates"
- RTC Webinar: UAE e-Invoicing: A Corporate Perspective on the Mandate and Opportunities, 25 September | 4 – 5 PM (Dubai)
- FTA Publishes Guidance EXTP012 on Shifting to Tiered Volumetric Excise Tax for Sweetened Drinks
- UAE MoF Issues New Rules on Free Zone Corporate Tax Activities, Effective June 2023
- UAE’s PINT AE v1.0.1 Released: Key Step Towards Mandatory E-Invoicing by 2026
- VAT Responsibilities and Treatment for Imported Goods on Behalf of Another in UAE
