The UAE Federal Tax Authority (FTA) has published a public clarification on the value added tax (VAT) treatment of the transfer of a business as a going concern. Under Decree-Law No. (8) of 2017 on VAT, the transfer of whole or an independent part of a business from a person to a taxable person for the purposes of continuing the business (i.e. transfer of a business as a going concern - TOGC) is not considered to be a supply for VAT purposes and is effectively exempt.
The public clarificatio…