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UAE: VAT Rules for New Properties Clarified

21/05/2018: The UAE’s Federal Tax Authority has announced three requirements and procedures for UAE nationals looking to reclaim VAT on new properties. To qualify for a VAT refund, an applicant must be a UAE national, the relevant amount must have gone towards financing the construction of a new residence which will be used exclusively for residential purposes and/or their family and the VAT refund only includes the money spent on establishing the unit, like the amounts spent on construction materials. UAE nationals looking for a VAT refund in these circumstances should submit a request to recover the tax incurred on construction costs from the Authority. The request must be submitted in six months from the completion date of the construction project. This is before the building started to be occupied or a certificate of completion for the building was issued by the competent authorities or might be another date determined by the Authority or whichever comes first.