UAE VAT update – VAT Payment user guide for Commercial property buyers

UAE Federal tax authority has issued an updated user guide on “VAT payment for Commercial property buyers” in May 2021

Some of the key changes in the updated guide are as follows:

• As per the updated guide, either the buyer or seller can make the VAT payment whereas previously only the buyers were asked to make this payment
• Certain new fields (below) have been added for the details to be entered in the “Miscellaneous payment” box “Commercial property sale” section while making the payment:
  • Land department transaction number
  • Property sale amount
  • Payment by – select buyer or seller depending upon who will pay the VAT
  • Paying entity type – select if it is a legal person or a natural person
  • Paying entity name (English and Arabic)

Earlier, there was a field for Seller’s TRN number to be entered; this has been removed now in the updated form.