The UAE Federal Tax Authority (FTA) has issued updated VAT guidance for supplies of real estate. The guidance covers the VAT treatment of supplies of real estate and various common transactions that occur within the real estate sector. With respect to different supplies, the guidance includes the following VAT treatment: The first supply of a residential building within three years of the building's completion date - VAT zero-rated; The supply of a residential building other than a qualifying first supply - VAT exempt; The first supply of a charitable building - VAT zero-rated; The supply of a charitable building other...