UAE property dealers debate VAT implications | GulfNews.com:
"For UAE business folk, there is no escaping the fact that January 2018 will see the introduction of VAT on sales and leases of commercial property, as recently confirmed by the country’s Ministry of Finance. Offices, shops and other commercial property will be subject to the new 5 per cent levy. However, sales and leases of residential property will be exempt from the tax, along with undeveloped land. Property development and the first sale of new homes will be subject to a zero rate of VAT. The word tax may strike fear into those who have lived and worked in the country for a long time, but several real estate professionals say they in fact welcome the move."
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