New amendments to certain provisions of VAT

The UAE Ministry of Finance has announced amendments to certain provisions of the Value Added Tax (VAT) law, effective from January 1 next year.
The new amendments are based on past experiences, challenges faced by various business sectors, and recommendations received from stakeholders.
The amendments were made in line with international best practices in light of the GCC Unified VAT Agreement.
Registered persons making taxable supplies are allowed to apply for an exemption from VAT registration if all their supplies are zero-rated or they do not supply anything other than zero-rated supplies.
Corresponding to the time limit for issuing tax invoices, a period of 14 days is set for issuing a tax credit note for the settlement of output tax.
The Federal Tax Authority (FTA) may compulsorily cancel the registration of registered persons in special cases.
Furthermore, the decree-law includes amendments in certain provisions to clarify and confirm the intended meaning of the text;
Some important amendments introduced by Federal Decree-Law No. 18 of 2022 amending certain provisions of Federal Decree-Law No. 8 of 2017 on VAT come into force.