The deadline for submitting VAT Returns is approaching soon. The FTA has reminded all its VAT registrants about the 28th June deadline for the period ending on 31st May, 2018. The report says that, FTA has started receiving tax returns from registered businesses through the e-Services portal of the authority’s official website. […]
The e-Services portal of FTA is including new features that will allow the Taxable persons to link accounts with an accredited Tax Agency. Thus the registration procedures, tax return submission and all other tax transactions will be carried out by the Tax Agencies on behalf of the Taxable Person. In order to ensure […]
Whenever a taxable supply of goods and services are made by a VAT registered person, it is required to issue a tax invoice: a record that contains the details of taxable supplies made. Tax invoice is issued by the supplier in order to dictate the date of supply and therefore determine the tax period […]
When importing to UAE, the Reverse Charge Mechanism is applicable if the goods or services are imported from outside the GCC countries. Normally, if a registered supplier makes a taxable supply then he needs to charge VAT and pay the same to the government. But, in case of reverse charge mechanism the responsibility of paying […]
Do your businesses grant VAT exemptions ? If your businesses are exempting any individual or organization, be cautious! – warns FTA. The authority reminded that all registered businesses have to collect value added tax (VAT) on all taxable transactions from customers. So, be careful while allowing VAT exemptions. You have to be careful that not […]