Exempted categories of goods and services
With the introduction of VAT to more sectors in the UAE, it is worth noting that some goods and services are exempt from the tax. These include health care for financial, banking, certain telecommunications, and more. Even with these exemptions, this new tax will have a sizable impact on the economic growth of the country.
Value Added Tax is a tax that cannot be avoided, regardless of the means or device used to purchase an article from a store. Feral Tax law generally requires a Value Added Tax to include a percentage amount on all goods and services sold to customers.
Also Read,
- What is VAT rate in Northern Emirates?
- Zero Tax Category in the UAE
- Tax in other countries
- VAT in GCC countries
- When was the New Tax Law started in UAE?
- How VAT is calculated?
- What about VAT paid to my suppliers?
Exempted categories of goods and services