by Rafaqat Ali Khan | May 13, 2020 | English Topics, Uncategorized
Adjusting events are the events providing evidence of conditions existing at the end of reporting period. While Non-Adjusting events provide evidence of conditions existing after the end of reporting period. Moreover, management should not prepare the financial...
by Rafaqat Ali Khan | May 7, 2020 | English Topics, Uncategorized
VAT Treatment of Director Services There should be 375000 AED taxable in previous 12 months or is expected to be in next 30 days for mandatory registration. The director can also register on voluntary basis if its services amount is exceeding 187500 AED. The director...
by Rafaqat Ali Khan | May 6, 2020 | English Topics, Uncategorized
Following are the steps for VAT refund on new buildings. Create a new account of eservices on Federal Tax Authority FTA website; Login into your newly created eservices account; After login click on the new taxable person/special refunds button and then enter the name...
by Rafaqat Ali Khan | May 5, 2020 | English Topics, Uncategorized
A disbursement of expenses falls outside scope of vat and while reimbursement of expenses is within the scope of vat and it is subject to standard rated. For disbursement or reimbursed to differentiate we have to see the company has acted as agent or principal. If the...
by Rafaqat Ali Khan | May 5, 2020 | English Topics, Uncategorized
In some situations, the taxable person may appoint another company agent to imports the goods on its behalf. So, the vat registered importing agent will provide the TRN at the time of importation of goods the vat amount in box 6 of vat return of importing agent will...
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