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No (tax)free lunch: Companies can't reclaim VAT on employee gifts or parties
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No (tax)free lunch: Companies can't reclaim VAT on employee gifts or parties
Taxable businesses will not be able to reclaim value-added tax (VAT) paid on staff parties and gifts, or any food and drinks that are provided outside of work meetings, the Federal Tax Authority (FTA) of the United Arab Emirates has said.
“VAT incurred on goods or services purchased to be given away to staff free of charge, in order to reward them for long service, should be blocked from recovery,” the FTA said in a press release on Monday that followed the publication of a clarification statement on entertainment services on its website.
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