From 1st January 2018, VAT has been levied on the consumption of goods and services in UAE. Businesses, end-users, and individuals are unhappy with the introduction of VAT in UAE. The rough idea has appeared about the VAT framework, sectors, zero-rated goods that will be exempted from the tax. Ultimately, consumers and end- users have incurred all taxes, so they must be aware that devil lies in the details.
Real-estate is one of the sectors which impacts all expatriates and citizens in UAE in the form of house rents and prices, we will tell you how VAT will impact UAE property.