In the context of UAE VAT, it is imperative to distinguish between the supply of goods and services, as both are subject to the same 5% VAT rate. While the tax rate remains consistent, the UAE VAT Law and Executive Regulation treat the two categories…

In the realm of UAE Value Added Tax (VAT), the central taxable event revolves around the act of supplying goods and services. This signifies that whenever a registered individual or entity engages in the provision of goods or services, it becomes incumbent to apply a…

The UAE VAT Return, often referred to as the ‘Tax Return,’ is a recurring statement that registered individuals or businesses must submit to the relevant authority. The specific data and information required for taxation purposes in the UAE VAT Return are outlined in the executive…

In accordance with the UAE VAT Law, the duty to impose, collect, and remit taxes to the government falls upon the entity making taxable supplies, namely the supplier. Essentially, when a registered supplier engages in a taxable transaction, they are required to apply VAT and…

The UAE VAT Return, often referred to as the ‘Tax Return,’ is a recurring statement that registered individuals or businesses must submit to the relevant authority. The specific data and information required for taxation purposes in the UAE VAT Return are outlined in the executive…

In the context of the UAE’s VAT system, the meticulous recording of taxable supplies and the maintenance of accurate records are of paramount importance. Tax Invoices serve as the official documents issued by registered entities to document taxable supply occurrences. These invoices not only underpin…

In the context of UAE’s Value Added Tax (VAT) regulations, when goods or services are supplied in a currency other than UAE Dirhams, they must be converted into UAE Dirhams. This is particularly relevant for businesses involved in exporting goods or services and issuing invoices…

In the context of the Value Added Tax (VAT) system in the United Arab Emirates (UAE), it is imperative to accurately record taxable transactions and maintain comprehensive records. One essential component of this process is the issuance of tax invoices. These invoices serve as a…

Within the framework of UAE VAT, whenever goods or services are supplied in a currency other than the UAE Dirham, they must be converted into UAE Dirhams. This is especially relevant for businesses involved in exporting goods or services and issuing invoices in a different…

The Profit Margin Scheme – Eligible Goods and Conditions The Profit Margin Scheme offers Taxable Persons the flexibility to calculate tax based on the profit margin generated from the sale of goods rather than the sale value. To apply VAT under the profit margin scheme,…