As the UAE is implementing VAT wef 01.01.2018 it will have a slight impact in increase in property pricing with 5% VAT mainly on commercial properties.
Residential Properties:
Rent/ Lease – exempted – no input credit of VAT paid available.
Sale (first sale within 3 years from completion) – Zero Rated – input credit of VAT paid available.
Commercial Properties –
Sale / Lease/ Rental of Commercial Properties will attract VAT @ 5%. Credit of Input VAT available.
Bare Land: exempted from VAT in the UAE
For Summary of VAT on Properties click to download file.
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