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Tax Authorities Are Listing Things And Services That Will Be EXEMPTED from VAT And Looks Like There Are Quite A Few
Good news, peeps.
The General Authority of Zakat and Tax has released the list of the stuff that will be exempted from Value Added Tax (VAT).
These include house rent, medicines, passport and driving license renewal fees and gold, silver and platinum imports for investment that are 99% pure
Some specified financial services and exports to countries outside the GCC region will also be out of the purview of VAT (it really depends on technical economic specification with these).
The VAT official website has some really helpful tools and information that can help you understand more on the upcoming laws.
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