- The Emirati Ministry of Finance announced on December 11 the UAE Cabinet’s approval of Decision No. 100 of 2024
- This decision amends the Executive Regulations of Federal Decree Law No. 8 of 2017 on Value Added Tax
- Amendments include VAT exemptions for investment fund management services
- Exemptions also cover certain services related to virtual assets
- There is an exemption for in-kind donations between charitable and government entities
- Donations can be valued up to 5 million Emirati dirhams over a 12-month period
- Donors can recover the VAT incurred on these in-kind donations
- The amendments grant the Tax Agency the power to deregister taxpayers in specific cases
Source: news.bloombergtax.com
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.
