FTA Publishes Refund Guide For The Building Of New Residences By U.A.E. Nationals
The FTA released a user guide in August 2018 for those U.A.E. nationals wanting to claim a VAT refund on their newly built residences.
The guide outlines the conditions required to qualify for the refund, what type of expenses are eligible and ineligible for a refund and the procedure for claiming the refund.
Furniture, removable appliances, swimming pools and landscaping such as trees, grass and plants are expenses where the VAT cannot be claimed.
The VAT incurred on air conditioning, doors, fire alarms, flooring, setup of kitchen etc., can be claimed.
A ‘Verification Body’ who are third parties and that are approved by the FTA will perform a detailed review of the information provided in order to verify the VAT claimed.
A ‘Refund Form’ needs to be completed by those who qualify. The form must be submitted to the FTA within 6 months from the date of completion along with the supporting documentation.
There will be no fees charged by the FTA for this service and will be processed within 20 business days from the completion of the eligibility check.