FTA releases new basic tax information bulletin

FTA releases new basic tax information bulletin

FTA releases new basic tax information bulletin Admin 7 hours ago Local NewsAbu Dhabi / WAM The Federal Tax Authority (FTA) has confirmed that higher education institutions making only zero-rated and/or standard-rated supplies may recover input tax in full, except where recovery is specifically blocked. Blocked input tax includes value-added tax (VAT) incurred on certain entertainment services, and motor vehicles that have been purchased, leased, or rented and made available for personal use, the FTA said on Sunday. The authority noted that higher education institutions providing exempt supplies are eligible to recover only a portion of the input tax incurred. This new issue of the FTA's Basic Tax Information Bulletin focuses on the tax treatment for the higher education sector in respect of universities and higher education institutions