Alex France
6
2023
Jun 21, 2023 01:18 PM

I won a lucky draw of AED 1000; will I be charged VAT?

I won a lucky draw of AED 1000; will I be charged VAT?


All Replies (6)
Josna Thomas
9 months ago

No, you will not be charged VAT on the prize money


munavvar
9 months ago

If the lucky draw is for personal purposes, VAT may not be applicable as it is considered a consumer good. VAT is generally imposed on business transactions


Jayadev Menon
9 months ago

Depending on the rules with regard to exemptions from VAT , It may be applicable on Lucky draw winnings 


HANNA SAYYID
9 months ago

No, VAT is not charged on the prize money as VAT is a tax on the consumption or use of goods and services.


Bryce Dsouza
9 months ago

No, you will not be charged VAT on the prize money you won in a lucky draw. VAT is a tax on the consumption or use of goods and services, and it is not applicable to prize winnings.


Jhon Peter
9 months ago

VAT (Value Added Tax) regulations can vary from country to country, and sometimes even within different regions of a country.


If you are referring to the United Arab Emirates (UAE), which uses the AED currency, it's important to note that VAT was implemented in the UAE starting from January 1, 2018. Generally, VAT is applicable to most goods and services provided in the UAE, including certain prize winnings, unless specifically exempted.


Therefore, it is likely that VAT may be applicable to your lucky draw winnings of AED 1000 in the UAE, depending on the specific circumstances and regulations in place at the time of your win. To get accurate and up-to-date information regarding VAT on prize winnings, it would be best to consult the Federal Tax Authority (FTA) or a qualified tax professional in the UAE.


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