The UAE Government has confirmed that Value Added Tax (VAT) will be implemented in the UAE effective 1st of January 2018 at a standard rate of 5%. Wherever applicable, VAT will be collected on taxable supplies of goods and services in the UAE, including health insurance premiums.
The National Health Insurance Company – Daman PJSC will comply with this Government mandate from the 1st of January 2018.
The standard VAT rate of 5% will apply to all health insurance products issued on or after the 1st of January 2018. There are separate provisions that apply for transition policies i.e., ongoing policies where the policy coverage extends to 2018.
Further information will be made available on our website in the coming weeks.