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.



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