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P. 37
CA Sarika Dhameja
Should every Taxpayers
read all VAT Guides?
In order to provide detailed VAT clarification to below:
industries, UAE’s Federal Tax Authority (FTA) has
released several VAT guides catering to specific 1. Referring to the Insurance VAT Guide which was
industries such as the Real Estate, Insurance, released by FTA in September 2018, the said
Financial Services, etc. Such VAT guides provide guide provided further clarification to Article 53
detailed insight of specific transaction undertaken of UAE VAT
in the industry and the VAT applicability thereon. Executive Regulation (‘Regulation’) which provide
Although, the primary intention of such industry for provisions pertaining to non-recoverable input
specific guide is to assist such industries and provide tax.
answers to their VAT related queries relevant for
1
their industry, however on certain occasions it is Article 51(1)(c) of Regulation provides that input
observed that such guides also provide general tax on goods/services purchased by business for
clarification on certain provisions of UAE VAT laws personal use of employees without any charge to
which can be of assistance to general trade and them would not be recovered by business except
commerce in UAE. Such two scenarios are outlined under certain instances referred therein.
The Institute of Chartered Accountants of India (Dubai) Chapter NPIO TAX JOURNAL 2020 37
