The FTA's monthly newsletter (July Edition) is out and includes the latest updates from the FTA.
Updated Guides: Real Estate Guide, this guide explains the VAT treatment of supplies of real estate, as well as various common transactions which occur within the real estate sector.
Reconsideration Service: A service requested by the person to reconsider any decision issued by the FTA. Reconsideration requests must be submitted via the FTA's website within 20 business days from the date of being notified of the decision being reconsidered. The Reconsideration Request Form MUST be submitted in Arabic otherwise it will be Rejected.
VAT Refund: When a Taxable Person requests a refund of excess refundable tax, the FTA will review the application and notify the Taxable Person of its decision to accept or reject the refund claim within 20 business days of requests a refund. Where the procedure requires more time, the FTA will notify the taxable person that more time is required.
Did you know?: Did you know that UAE nationals can request a VAT refund for a newly built buildings which meet the legal requirements of a new residence? Visit the FTA’s website for more details.
The Newsletter can be downloaded from here: