“Do you own a commercial property in the UAE, and is VAT applicable to the sale or lease of such properties?”
The interesting part of the answer is not a simple ‘yes’. There are two possible scenarios to explain, and VAT will applicable only where it is Taxable Supply.
- When can it be considered as Taxable Supply?
- When can this be considered as a Business?
- Important Definition for reference from UAE VAT Law
Source: PERSPECTIVE TAX CONSULTANT & BUSINESS SETUP SERVICES
