FTA's Board approves procedure for refunding VAT on building new homes for UAE citizens

The Board of Directors of the Federal Tax Authority, FTA, held its 10th meeting at the FTA’s Dubai headquarters, headed by its Chairman H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, where it presented a report on the FTA’s recent activities and accomplishments.

The Board adopted a new procedure to facilitate refund requests for UAE nationals on the Value Added Tax, VAT, incurred on the construction of their new residences, in line with the leadership’s vision to develop a modern housing system, spread happiness among citizens, and provide a decent, stable life for them. In coordination with housing finance authorities, the FTA will minimise auditing requirements on applications approved by these authorities.

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