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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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    Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 21 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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We provide our periodic compliance services, like  FTA VAT  Return, FTA VAT Refund, FTA VDS Return, FTA Registration & Deregistration, Annual ESR Return & maintenance of statuary registers of UBO in UAE to the all the entities registered with  ​Ministry of Economy, Dubai Aviation City, Dubai South,  Hamriyah Free Zone Authority (HFZA),  Media Free Zone (Abu Dhabi), Central Bank of the UAE, Jebel Ali Free Zone (JAFZA) DP World,  Ajman Free Zone Authority, Abu Dhabi Airports Free Zone, Insurance Authority, Dubai World Trade center,  Ajman Media Free Zone Autority,  MASDAR, Security and Commodities Authority,  International Humanitarian City (IHC) ,Ras Al Khaimah International Corporate Centre (RAK ICC), Abu Dhabi Global Market (ADGM), Dubai Airport Free Zone , TECOM (Dubai Development Authority),  Ras Al Khaimah Economic Zone (RAKEZ), Abu Dhabi Ports, Dubai Healthcare City Authority, Dubai Multi Commodities Centre (DMCC), Fujairah Free Zone, Fujairah Creative City,  Dubai International Financial Centre (DIFC) Dubai Silicon Oasis Umm Al Quwain Free Zone (UAQ) Sharjah publishing city, Meydan Free zone, Sharjah Airport (SAIF) Zone, Khalifa Industrial Zone Abu Dhabi (KIZAD), Sharjah media city, International free zone authority Fujairah, RAK Maritime City, Sharjah Healthcare City, The Sharjah Research, Technology and Innovation Park  in addition to the assistance in the compliance with the annual audit requirements  and books of accounts. 
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  • HOME
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    • VAT REFUND >
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    • VALUE ADDED TAX - UAE >
      • VAT in UAE >
        • Introduction to VAT Laws in UAE
        • Frequently Used Terms in Indirect Tax System
      • VAT Registration >
        • VAT Registration in UAE
        • Who should register under VAT
        • How to apply for VAT registration in UAE
        • Tax Registration Number (TRN)
        • How to check TRN validity in UAE
        • VAT registration Deadlines in UAE
        • VAT Group Registration
        • VAT Registration Threshold Calculation in UAE
      • VAT De-Registration >
        • How to de-register under VAT in UAE
      • Recovery of Input Tax >
        • Input Tax Recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • What is Capital Asset Scheme in UAE VAT ?
        • Input VAT Adjustments under Capital Assets Scheme
      • 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 services in special cases
        • Place of Supply of Telecommunication and Electronic Services
        • Place of Supply of Services Related to Real Estate
        • Place of Supply of Certain Transport Services