UAE Introduces VAT Reverse Charge for Investors in Gold, Diamonds, and Precious Metals

The Emirates News Agency has issued a release announcing that the UAE Cabinet adopted a law to introduce the VAT Reverse Charge mechanism for investors in gold, diamonds, and precious metals.

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Trading in Gold and Diamond exempted from VAT

ABU DHABI, 1st May, 2018 (WAM) -- In line with the UAE Government's efforts to ensure an efficient implementation of the Value Added Tax, VAT, while employing best international standards and maintaining the competitiveness of the local precious metal…