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 Noorjahan S. Yargatti | May 5, 2020 | English Topics, Uncategorized
As per UAE VAT LAW there are certain conditions for claiming VAT on expenses. You cannot claim VAT for all your expenses. As you know, the UAE VAT LAW clearly sets out the conditions for business to recover input VAT on expenses and lists the expenses that are blocked...
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...
by Syed Nasr | May 5, 2020 | English Topics, Uncategorized
Data analytics can help businesses to uncover valuable insights within their financials, identify process improvements that can increase efficiency, and better risk management. Data analytics can add value to the business decision making within the organization. The...
by Noorjahan S. Yargatti | May 4, 2020 | English Topics, Uncategorized
The entity will provide employee benefits in exchange of services rendered by the employee or the termination of an employee. IAS 19 requires an entity to recognize: a liability when an employee has provided service in exchange for employee benefits to be paid in the...
by Rafaqat Ali Khan | May 4, 2020 | English Topics, Uncategorized
If these both conditions are met then applicant can recover input VAT. Invoice is received and there is intention to make payment within six months after the agreed date of payment. if the applicant has intention to make payment in next period then he has to recover...
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