VAT on Residential Property in UAE is generally exempt, meaning that the sale or lease of residential properties is not subject to VAT. However, there are specific conditions under which VAT could apply. For instance, when a property is being leased for commercial purposes or sold as part of a larger development, VAT might be applicable.
It’s important for property owners and investors to understand the nuances of VAT on Residential Property in UAE, especially in cases of new developments or changes in property use, as regulations can vary based on the nature of the transaction and the parties involved.