Understanding UAE VAT Local Housing Refund
The UAE VAT local housing refund scheme is designed to provide relief to residents who have incurred VAT on the construction of new residential buildings. This scheme allows homeowners to reclaim the VAT paid on expenses related to the construction, ensuring that the financial burden of VAT does not hinder the development of residential properties.
Eligibility Criteria
To be eligible for a local housing VAT refund, the following criteria must be met:
- The property must be a new residential building.
- The claimant must be either the owner of the property or a developer who has sold the property upon completion.
- All VAT invoices and receipts must be retained and submitted.
The claim must be made within 12 months of the completion of the building.
Understanding UAE VAT Commercial Refund
The UAE VAT commercial refund scheme applies to businesses that have paid VAT on commercial expenses and are eligible to reclaim it. This refund helps businesses manage their cash flow efficiently by recovering the VAT incurred on various business-related expenditures.
Eligibility Criteria
To qualify for a commercial VAT refund, businesses must:
- Be registered for VAT with the Federal Tax Authority (FTA).
- Retain all VAT invoices and receipts for expenses incurred.
- Ensure that the expenses are related to business activities and not exempt supplies.
Submit VAT returns and refund claims within the stipulated time frame.
Our Team’s Assistance in Local Housing Refund
Our team is well-versed in the intricacies of the UAE VAT regulations and can assist you in the following ways:
- Documentation Review: We will review all necessary documents to ensure they meet the requirements set by the Federal Tax Authority (FTA).
- Claim Preparation: Our experts will prepare and file the VAT refund claim on your behalf, ensuring accuracy and compliance.
- Follow-Up: We will follow up with the FTA to track the progress of your claim and address any queries or issues that may arise.
