- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 05:29 06:48 12:14 15:11 17:33 18:52
The Federal Tax Authority, FTA, launched a new and enhanced platform on its website to further streamline the process of recovering Value Added Tax, VAT, incurred by UAE citizens on the building of new homes.
Citizens who qualify for VAT recovery on newly built homes will receive an email with a request to submit the necessary documents to complete the processing. After verification of the documents, the citizen is notified of his/her entitlement. If the refund amount matches the tax invoices provided, then – following final approval the refund amount is transferred to the applicant’s bank account.
In a press statement issued today, the Authority explained that the platform’s most notable new feature is that it allows applicants to apply for the VAT refund online by using the e-Services feature on the FTA website, instead of having to mail applications, as was the previous procedure. It noted that this would save time and expedite the VAT recovery process.
Furthermore, the number of original documents that need to be submitted with the application has been reduced to just four and include a copy of the applicant’s family book, a copy of the applicant’s Emirates ID, a building permit included in the certificate of completion issued by the municipality, and a document indicating the date from which the building has been occupied (e.g. an invoice for setting up electricity and water services).
The FTA’s statement asserted that the new platform offers faster and easier procedures – particularly for applications that include an expenses certificate from a housing programme that adopts the Authority’s procedures and provides the required expenses data. Emirates Development Bank is the recognised agency for the time being but the FTA is working to expand the list of housing programmes.
FTA Director-General, Khalid Ali Al Bustani, said, "The FTA is committed to engaging all those involved in developing tax processes. With that in mind, we set out to consult with citizens who have recovered – or are looking to recover – the VAT they paid for building their new homes, as well as with tax agents. Their views and experience with the old procedures were taken into account while developing the platform."
He added, "The new online platform was launched to implement the vision of our wise leadership to develop a modern housing system for UAE citizens, and provide them with stability and high quality of life."
The FTA called on citizens wishing to recover the taxes they incurred for the construction of their new homes to review the guidelines the Authority had issued in January 2020, which are available on its official website.
The Authority asserted that UAE citizens who build their homes have the right to submit a request for a VAT refund, and this request should be received by the Authority within six months from the date of completion of the newly built residence.
Follow Emirates 24|7 on Google News.