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VAT rEGISTRATION uae

Applicability Of VAT On Commercial Property And Real Estate In UAE

Deepthi7
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VAT rEGISTRATION uae

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  1. VATOn VATREGISTRATIONUAE Commercial PropertyAnd RealEstateIn UAE

  2. VatRegistrationProcess for Commercial PropertyandRealEstate inUAE VATREGISTRATIONUAE Step 1: AssessWhichCommercialorReal Estate PropertiesAreTaxable Step2: DetermineYourEligibilitytoRegister forCommercialProperties Step3: SubmitDetailstoTaxExperts

  3. Step1:AssessWhichCommercialor RealEstatePropertiesAreTaxable VATREGISTRATIONUAE CommercialpropertiesintheUAE,whether leased out or sold, are taxable unless providedtheyareforresidentialuse. Any Non-Resident property owners and/or tenants cannot escape 5 % VAT for commercial property. If the landlord and tenantarebothnon-residents,thelandlord has to register for VAT if the property is in theUAE. Leaseincentives,suchasfreeofficefit-outs, couldbesubjecttoVAT. VATwillalsobeapplicabletorentspayable undercommercialrentalcontracts. Any property, which is not fixed to the groundandhencemovable,wouldalsobe considered commercial for VAT purposes. Mobilehomes,forexample.

  4. Step2:DetermineYourEligibilityto RegisterforCommercialProperties VATREGISTRATIONUAE IfthevalueoftaxablesuppliesexceedsAED 375,000,abusinesscanundergomandatory VATregistration. IftaxablesuppliesexceedAED187500toAED 375000, then the company can undergo voluntaryVATregistration.

  5. Step3:SubmitDetailstoTaxExperts VATREGISTRATIONUAE Detailsoftheapplicant Supply the details of the person who is operatingtherealestatebusiness.whether he is an individual or a business, details of theapplicantmustbesubmittedtothetax experts. Supply Details regarding the VATamount TheapplicableVATamountonthesaleofthe property should be declared (mentioned in the tax invoice provided by the seller.) Seller’sTRN TheTaxRegistrationNumberoftheseller should be furnished to the tax expert as mentionedinthetaxinvoice. DetailsofPropertynumber Theofficialpropertynumberasprovidedby the seller or the land registration departmentshouldbefurnished. Dateofpurchase Thisis thepurchasedateofthecommercial propertyasmentionedonthetaxinvoice.

  6. ContactUs STUDIOSHODWE WhatsAppOnly:+971526922588 WhatsApp&Phone:+971554828368 Landline:+97142500251 ForConsultation:consultant@farahatco.com ForSalesEnquiries:sales@farahatco.com

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