Navigating the New FTA Input Tax Deduction Framework: 6 Critical Risk Areas for UAE Businesses
The Federal Tax Authority (FTA) is shifting the paradigm for VAT compliance in the UAE. Historically, holding a valid Tax Invoice was considered the primary requirement for deducting Input Tax. Going forward, tax authorities are enforcing a substance-over-form approach that requires taxable persons to exercise due diligence, verify supplier legitimacy, and substantiate the commercial rationale…