Simple VAT

Knowledge resource center aimed to help SME’s to deal with VAT matters in a simple way



Calculations in foreign currency are often used by companies across the UAE. This article describes how to calculate correct VAT for such operations.
Let us consider the following situations:
1.    Full post-payment
2.    Full prepayment
3.    Partial prepayment: case 1
4.    Partial prepayment: case 2



First BIT and Emirates Chartered Accountants Group together with Khalifa Fund, and The Institute of Chartered Accountants of India Abu Dhabi Chapter, teamed up to hold a free seminar dedicated to correcting tax management within the recent introduction of VAT. The seminar took place on August 15, 2018 at St. Regis Abu Dhabi.




VAT made simple
How to avoid VAT penalty?

On October 2, 2017 UAE Council of Ministers adopted Cabinet Resolution No. (40). - resolution on administrative penalties for violations of VAT law in the UAE. This article analyses the most common mistakes which may cause penalties.


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