- UAE exempts fund management services from VAT for funds incorporated in the country
- Previously, fund management services in the UAE were subject to a 5% VAT, increasing investment costs
- VAT exemption now applies to funds incorporated in the UAE, creating a more competitive environment
- Focus on local funds boosts UAE’s financial ecosystem and aligns with economic diversification goals
- UAE aims to be a place where funds are managed and created, contributing to the country’s growth
- VAT exemption enhances UAE’s competitiveness globally, aligning it with financial centers like Luxembourg, Singapore, and the UK
- Lower fees make it more affordable for individual investors to access managed funds, opening up more investment opportunities
Source: pressreader.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.
