UAE VAT Update: New Reverse Charge Mechanism for Metal Scrap
The Ministry of Finance has introduced the Reverse Charge Mechanism (RCM) for local supplies of metal scrap between VAT-registered businesses in the UAE. • VAT liability now shifts from the supplier to the recipient, subject to prescribed conditions. • Objective: curb VAT leakage and enhance compliance in the scrap trading & recycling sector. Effective from […]