UAE's Federal Tax Authority (FTA) has launched a new platform to further streamline the process of recovering value added tax (VAT) incurred by UAE citizens on the building of new homes.FTA statistics reveal that the total number of requests submitted by UAE citizens to recover VAT on the construction of their new homes has reached 1,474, allowing citizens to recover AED84.07 million. After verification of the documents, the citizen is notified of their entitlement. If the refund amount matches the tax invoices provided, then, following final approval, the refund amount is transferred to the applicant’s bank account.
The four documents that now need to be submitted with the application are -
“Launching the online platform to recover VAT on the construction of new homes for UAE citizens is part of the authority’s strategy to provide best-in-class services and continuously revise executive procedures for tax legislation", announced by Khalid Ali Al Bustani, FTA director general.