By Gaurav Sharad on 31 May 2021
An individual owns a commercial property in UAE. He is not in any regular business of property sale/ purchase. Now he has decided to sell this property for an amount exceeding 375k through. Since it is just a single transaction, is he required to get himself registered or issue a tax invoice? Is the buyer required to pay any VAT to seller or to FTA? Will the land department allow the registration of the property without VAT being paid by any of the party?
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