Dubai- May 24, 2021:

FTA releases a VAT Payment User Guide for Commercial Property Buyers.

The guide is prepared to help persons who are buying or selling a commercial property which is subject to VAT in the UAE to complete their VAT payment on the FTA’s eServices portal. This process will be completed as a miscellaneous payment.

Kindly note that this guide is only applicable to sales of commercial property which are subject to VAT at 5%.

Therefore, it does not apply to:

• Any sales or leases of residential property;
• Leases of commercial property; and
• The sale of a commercial property with the benefit of sitting tenants to a buyer who is a Taxable Person which qualifies as the transfer of a business.

Click here to view the guide.

For any queries you may contact our Tax Experts.