Upon purchasing goods or services there will be a certain amount of VAT incurred on the purchase known as the Input Tax. This input tax can be recovered back on certain items if you are a registered taxable person. The recovery of input tax will be allowed if the goods and services purchased […]
If you are a VAT registered importer to UAE, then you are liable to pay tax while: Importing taxable goods into the UAE (through reverse charge mechanism) Importing goods into the UAE and exporting it to another country There won’t be any tax applicable if: Import of goods is made to a […]
A Designated zone in UAE is one among the areas which are treated as outside the state of the UAE for VAT purposes, where VAT is not applicable on supply of goods. There are certain conditions that must be satisfied as a designated zone, the operator must obey the procedures set by the […]
Advantages & Disadvantages of VAT VAT in UAE: VAT is tolerated by final consumers, so it is a consumption tax. Companies do not take the burden of VAT. Through a system of deductions it is claimed fractionally, where taxable persons can abstract the VAT liability amount which they paid to other taxable persons on business […]
VAT on Real Estate Sector in UAE VAT on Real Estate Sector in UAE: The implementation of VAT in UAE will effect on real estate development, sales, purchase and leasing of property and also on construction in a different manner and probably highly complex. VAT on sale of commercial / residential properties According to the […]