In a recent interview with Thomson Reuters Zawaya, Under Secretary of the U.A.E. Ministry of Finance Younis Al Khouri clarified certain aspects of the pending VAT regime, including that:
- VAT at the rate of 5% will be adopted effective 1 January 2018 as planned;
- VAT will apply to most goods and services, although certain exemptions may be introduced for the education, healthcare, renewable energy, water, space, transport, and technology sectors;
- The planned registration threshold will be an…