|
On 6th September 2024 the FTA issued a Cabinet Decision No. 100 of 2024, which significantly changed the existing VAT Executive Regulation to the UAE VAT Law.
The Cabinet Decision is effective from 15th November 2024, however some of the amendments have a retroactive effect and apply starting from 1st January 2018.
The Cabinet Decision added two new articles and revised thirty-three of the current provisions in the Executive Regulation. The extent of these changes is considerable, affecting almost half of the articles.
Here we analyze the key amendments and their potential impact on the UAE taxpayers.
