VAT on Insurance in the UAE – Shuraa Tax
Description
Since January 1, 2018, the UAE has implemented Value Added Tax (VAT) at a standard rate of 5%. This tax applies to most goods and services across the country, including the insurance sector. Whether you’re dealing with health insurance, motor insurance, life insurance, or general insurance, it’s essential to understand how VAT affects each of them.
The way UAE VAT applies to insurance can be tricky because some types of insurance are taxable, while others are exempt. Knowing the difference can save you from unnecessary costs and help you stay compliant with the law. Therefore, we’ll break down everything you need to know about UAE VAT on insurance.
Handling VAT can feel complicated, but Shuraa Tax is here to make it simple for you. Our expert team can help you with everything, from VAT registration and compliance to advice on input tax recovery.
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