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UAE announces VAT Exemption for Board Members from January 1, 2023
Dubai November 18, 2022:
Supply of services for people serving as board members will not be subject to value-added tax from next year, the Ministry of Finance said on November 17, 2022.
The ministry added that before the new legislative amendment is implemented, tasks performed by board members – natural and legal persons alike – are treated as taxable services subject to VAT, on the condition that the member provides them on a regular, continuous, and independent basis, and if the total value of these taxable supplies/services and import transactions, exceeds the mandatory tax registration threshold.