GTL Summary:

Article 46, as amended by Federal Decree-Law No. 18 of 2022, specifies supplies exempt from tax. It identifies four distinct categories: the supply of financial services as detailed in the Executive Regulation; the supply of residential buildings through sale or lease, excluding those zero-rated under Article 45; the supply of bare land; and the supply of local passenger transport. The article further mandates that the Executive Regulation of the Decree-Law will establish the specific conditions and controls applicable to these exemptions, ensuring a clear framework for their implementation and governance within the tax system.