Real estate feeds millions in the UAE. Owing to it being the business hub in the current century, real estate provides very lucrative options for business. The VAT is thus one of the key industries falling under the VAT regulation. Thus, real estate business owners need to understand some details.
Especially those businessmen who are just beginning with real estate business in the UAE, a solid understanding of VAT supplies and liabilities is essential.
If you are one of those aspiring businessmen who want to pursue real estate as their career, you need to specify the kind of real estate you want to indulge in. It can either be bare land, charitable buildings, mix-use development, residential property, or commercial property. Each has different conditions for VAT payment and a different rate of VAT supply payment.
If you want your business to run without mishandling of these regulations, you need to seek professional services for VAT management. You can get in touch with a VAT consultancy in Dubai to ensure your business doesn’t face any risks of VAT related penalties. VAT compliance will be beneficial for your business in the longer run.
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