- FTA revoked Public Clarification VATP031 and replaced it with VATP037
- VAT requirements for natural persons serving as directors on boards of directors addressed in new Public Clarification
- Amendment to Article 3 of VAT Executive Regulation introduced exception for BOD members
- Services rendered by BOD members to the company they serve will be excluded from UAE VAT
- Two essential conditions must be met for services to be excluded from VAT
- Transitional provisions for BOD members outlined in new Public Clarification
- VAT treatment for services rendered by BOD members depends on date of supply provisions in VAT law
Source: nrdoshi.ae
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
