Due to many queries arising related to the collection of VAT on Compensation-type Payments under UAE VAT Law, UAE Federal Tax Authority has published a clarification the VAT treatment of Compensation-Type Payments. As we all know that what is applicable whenever the supply of goods or services takes place. But what if in any case, […]
Due to many queries and misunderstandings related to eligible goods under the Profit Margin Scheme, UAE Federal Tax Authority has published a clarification defining the eligibility of the good and the VAT applicability on goods under Profit Margin Scheme. It is really important for every business to identify the goods which qualify to be sold under […]
UAE VAT Invoice Format for Rent a Car Business. It is a ready-to-use invoice template with predefined formulas and VAT computations for the Car Rental business.
UAE VAT Return Format has been published to FTA site. You can find it in the menu under partners, below Tax Accounting Software Vendors in Requirements. UAE VAT Return Format is on page 48 under Appendix 8 – VAT Return Format. The VAT Return Format start from page 48 and ends at page 57. To download the […]
Saudi VAT Payable Calculator is used to easily calculate VAT payable liability by entering details of purchase and sales. According to Article 45 related to Calculating Tax mentioned in Value Added Tax – Implementing Regulations of Saudi VAT Law: ” The Net Tax payable by a Taxable Person in respect of a Tax Period is calculated […]