When it comes to gold or diamonds, the VAT responsibility largely depends on the Reverse Charge Mechanism (RCM). Under this: The buyer, if VAT-registered in the UAE, declares and pays VAT directly ...

UAE: The UAE’s Ministry of Finance (MoF) recently announced a new VAT law for the country’s precious metals sector, where businesses supplying such goods will no longer need to charge or collect VAT.

ABU DHABI- The Federal Tax Authority (FTA) has confirmed that its digital VAT refund systems, including the VAT-refund system for UAE nationals for the construction of new residences and the ...

The introduction of VAT in the UAE went into effect on January 1, 2018, at a 5 per cent rate on the supply of most goods and services in the country. Thomas Vanhee, founding partner at Aurifer ...