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DUBAI / WAM
The board of directors of Federal Tax Authority (FTA) discussed value added tax (VAT) refund scheme for foreign businesses at its 7th me-eting, headed by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Industry, and FTA Chairman.
According to Federal Decree-Law No. (8) of 2017 on VAT, as well as conditions, co-nstraints and procedures outlined in law’s executive regu- lations, any tax incurred on a supply or import made by a non-taxable person conducting business but not residing in UAE (or any other country implementing VAT) shall be refunded to said person.