The following supplies shall be exempted from the tax: 1. Financial services as specified in the Executive Regulations of this Decree-Law. 2. The supply of residential buildings through selling or leasing the same, except for those zero-rated in accordance with Clauses (9) and (11) of Article (45) of this Decree-Law. 3. The supply of vacant lands. 4. The supply of local passenger transport. The Executive Regulations of this Decree-Law shall establish the conditions and controls for exempting the supplies mentioned in the preceding Clauses from the tax.
Interpretation and application must be checked against the official text and current version.