What you should know about zero-rated goods and services in the UAE
What are the benefits of zero-rated supplies? The main benefit is that the business can claim input tax on related expenses of goods and services. Is VAT registration required for Zero Rated Supplies? If the value of the taxable goods and services is above the specified threshold, VAT registration in UAE is must for the business, failure to so will attract penalty. What is VAT exempted supplies? VAT Exempted supplies are not taxable supplies for VAT purpose it mean goods and services on which VAT is not charged. For example – raw material acquired at 5% VAT is used for the production of goo...