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What is taxable supply in UAE VAT and how to calculate value of taxable supply for VAT Registration

25/10/2017

1 Comment

 
Meaning of Supply (ie. Turnover, Sales, Revenues, Income etc)  in UAE VAT  and how to calculate the value of taxable supply. 
Supply is divided in 3 parts as per Article 1 UAE VAT Decree-Law No. (8) of 2017,  which deals with the definitions of the terms used under the UAE VAT Law.
1. Exempt Supply: A supply of Goods or Services for Consideration while conducting Business in the State, where no Tax is due and no Input Tax may be recovered, except according to the provisions of this Decree-Law.
2. Taxable Supply: Taxable Supply: A supply of Goods or Services for a Consideration by a Person conducting Business in the State, and does not include Exempt Supply.
3. Deemed Supply: Anything considered as a supply and treated as a Taxable Supply according to the instances stipulated in this Decree-Law.
It should be noted that the import of the goods and services which if supplied in UAE would not be exempt are defined as Concerned Goods and Concerned Services. 


Picture showing a diagram of the UAE VAT in relation to the calculation of the amount of taxable supply, Import and taxable supply for the consideration in the registration threshold of UAE Vat.  Also explained in Exempt Supply, Deemed Supply,Taxable Import of Goods and services which would be supplied in UAE. Also Clarified is the Availability of input credit, Tax Collection and payment, and relevant VAT Charge Mechanism in simple terms By Gupta Accountants as VAT Consultants in Dubai, UAE
Calculation of the amount of taxable supply and other relevant considerations.
In the aforesaid diagram we have tried to simplify the understanding to calculate the amount of taxable supply.  While calculating the threshold amount for the vat registration it should be noted that even the value of import of the concerned goods and services along with value of taxable supplies made in UAE be considered. 
In case you need any assistance and support on VAT in UAE,  please contact us info@guptaaccountants.com . Gupta Accountants competent team as Vat Consultants in Dubai, provides supports at all the stages of the VAT in UAE . ​
VAT | REGISTRATION | COMPLIANCE | AUDIT | REFUND | CONSULTING 
Gupta Accountants as Vat Advisor,  as Vat Consultants in Dubai and Dubai Free Zones, Vat Consultants in Abudhabi and Abudhabi  Free Zones, Vat consultants in Sharjah and Sharjah free Zone, Vat consultants in Ajman and Ajman free Zones, Vat Consultants in Fujairah and Fujairah free zones, Vat Consultants in Ras Al Khaimah and Ras Al Khaimah free zones, Vat Consultants in Umm al Quwain and Umm Al Quwain free zones provides Vat consultancy and Vat Advisory. 

1 Comment
Shiwani arora link
6/6/2019 03:55:04 pm

Thanks For Sharing valuable information

<a href="http://bit.ly/2MuKGgp">VAT Registration Service In dubai.</a>

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    Author

    Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 22 years of experience in assurance, accounting, audit and business management.  He is a member of the Institute of Chartered Accountants of India (ICAI).  He is the Managing Partner of Gupta Accountants an accounting and advisory firm in Dubai UAE

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  • HOME
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    • VALUE ADDED TAX - UAE >
      • FAQ - How to >
        • How to check TRN validity in UAE
        • How to de-register under VAT in UAE
        • How to apply for VAT registration in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Input VAT Adjustments under Capital Assets Scheme
      • FAQ - Place of Supply >
        • Place of supply of goods under VAT in UAE
        • Place of supply in case of export of goods
        • Place of supply of specific goods
        • Place of supply of services
        • Place of Supply of Certain Transport Services
        • Place of Supply of Services Related to Real Estate
        • Place of Supply of Telecommunication and Electronic Services
        • Place of supply of services in special cases
      • FAQ - Registration >
        • Introduction to VAT Laws in UAE
        • Frequently Used Terms in Indirect Tax System
        • VAT Registration in UAE
        • Who should register under VAT
        • Tax Registration Number (TRN)
        • VAT registration Deadlines in UAE
        • VAT Group Registration
        • VAT Registration Threshold Calculation in UAE
        • Input Tax Recovery under VAT in UAE
        • What is Capital Asset Scheme in UAE VAT ?
    • CORPORATE TAX - UAE >
      • INTRODUCTION OF CORPORATE TAX - UAE
      • Public Consultation Document Issued
    • Due dates