The Federal Tax Authority (FTA) has introduced significant
amendments to the UAE Value Added Tax (VAT) Executive Regulations
effective 15 November 2024. Whilst there have been earlier updates
to the Regulations, it's the first time that we're seeing
an update at this magnitude. In total, 35 changes have been made
covering 34 articles.
The amendments cover a wide range of provisions, the underlying
themes of which are to cater for recent global developments in
assets and currencies, align procedures to international best
practice, improve compliance and transparency and support
taxpayers.
On Wednesday, 16 October 2024, A&M hosted a webinar where our
experts Renan Ozturk, Pushkar Kundra and Mohamed Isa discussed the
impact of these changes on sectors such as investment fund
management, cryptocurrency and digital assets, and exporting, with
broader implications for UAE taxpayers.
