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Should I pay VAT for all the products?
Should I pay VAT for all the products?
Nandana Nithiyanandan
Jayadev Menon
Usually Products and services are categorised into three for VAT. Exempted, Zerorated and Standard Rated. In this only Standard rated products are charged VAT.
Jenifer. Lovely
You don't need to pay Value Added Tax (VAT) for all products. VAT is typically applied to most goods and services, but there are some exceptions and zero-rated items where VAT doesn't apply. So, while many things may have VAT, not everything does. It's a good idea to check the specific rules or consult with a local expert if you have questions about VAT on a particular product or service.
Bryce Dsouza
No, not all products are subject to VAT in the UAE. There are certain products and services that are exempt from VAT. These include financial services, residential buildings, bare land, and local passenger transport.
Adam Franz
Yes most of the services and goods are included in VAT. But there are some Zero rated sectors and VAT exempt sectors
Zero-rated sectors
VAT will be charged at 0% in respect of the following main categories of supplies:
Exports of goods and services to outside the GCC
International transportation, and related supplies
Supplies of certain sea, air and land means of transportation (such as aircrafts and ships
Certain investment grade precious metals (e.g. gold, silver, of 99% purity)
Newly constructed residential properties, that are supplied for the first time within three years of their construction
Supply of certain education services, and supply of relevant goods and services
Supply of certain healthcare services, and supply of relevant goods and services
VAT- exempt sectors
The following categories of supplies will be exempt from VAT:
The supply of some financial services (clarified in VAT legislation)
Residential properties
Bare land
Local passenger transport
