Tag: 20 Areas

These 20 Areas in UAE are Exempt from VAT

These 20 Areas in UAE are Exempt from VAT

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Federal Tax Authority has listed free zones across the seven emirates. The Federal Tax Authority on Wednesday announced 20 designated zones which would be exempt from the recently-implemented five per cent VAT in the country, bringing a major relief and clarity for the companies operating in the free zones. "The designated zones are special zones for VAT purposes, which are generally considered outside of the UAE in terms of value-added taxation. While VAT applies throughout the UAE, in the designated zones VAT generally does not apply. Only fenced free zones with special controls on goods and services going in and out could benefit from this status. As expected, important free zones such as Jafza, Dafza and Kizad are on the list," said Thomas Vanhee, founding partner, Aurifer Middle...
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