(As per UAE Minister of State for Financial Affairs, UAE will implement VAT at the rate of 5% on 1 January 2018.)

S.No Rate Description
1. Exempt Residential Property Old, Foodstuff
2. Zero Rates(0%) Education, Healthcare, Residential Property New (after Jan 1 2018), Investment & Precious Metals (bullion), Local Transport – mix rates
3. Standard Rates(5%) Jewelry, Second hand cars – margin scheme, Financial services – standard rate on Fee income. Margin based income is exempt. Islamic banking products to be treated same as equivalent conventional products., Insurance premium except Life insurance is taxable.