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There are some specific regulations about handling VAT incurred on mixed-use supplies, purchasing of commercial property, tax refunds to tourists, and sales of capital assets. For more information on VAT laws and regulations, refer to the official portal of the UAE government.
Each company is required to record its transactions and documents related to VAT and keep them during the time interval that is defined by FTA. Also, the company must comply with the FTA regulations on the import and export transactions. Periodically, the company must file VAT Returns to report any details on the Output VAT amounts and on Recoverable VAT Amounts.
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