United Arab Emirates Tax Agency Clarifies Amendments to Executive Regulation on VAT

The Emirati Federal Tax Authority March 14 issued Public Clarification No. VATP040, clarifying the recent VAT amendments under the Executive Regulation of Federal Decree-Law No. 8/2017. Topics covered include: 1) changes to the rules on mandatory and voluntary registrations, and on the deregistration of, or amendments to, tax group registrations; 2) amendments to the provisions on accounting for tax on profit margins; 3) the zero-rating of exported goods and services, international transportation services for passengers and goods, and healthcare services; 4) amended rules on input tax apportionments and adjustments under the capital assets regime; 5) record-keeping requirements; and 6) new ...