In summary, the Reverse Charge Mechanism for VAT on metal scrap trading represents a significant regulatory change aimed at improving tax compliance and reducing fraud risks in the UAE’s metal scrap sector.
On Jan 14th of 2025, Federal Tax Authority (FTA) have issued VAT public clarification (VATP039) on VAT implication on Crypto Currency Mining. As we all witnessing rise of popularity of crypto currency, FTA have given the clarification on the VAT treatment on Crypto currency mining.