Dubai: There are some traders who are charging value-added tax (VAT) after assuming the Tax Registration Cardinal (TRN) on the receipt.
A tax balance charge accommodate the name, address, and TRN of the apprentice authoritative the supply. An balance charge accept a consecutive tax balance cardinal or a different cardinal and date of issue, which enables identification of the tax balance and the adjustment of the balance in any sequence.
Dipesh Shah, a Dubai-based accountant accountant, said barter should not pay VAT unless businesses affair able Tax Invoices including TRN number. If the business has calm VAT, irrespective of able Tax Invoice, it shall accommodate it in the Tax Return and pay it to the tax authority.
The law says that the balance should accept a bright description of the appurtenances or casework supplied, it should additionally acknowledgment the assemblage price, the abundance or aggregate supplied, the bulk of tax and the bulk payable bidding in UAE dirham should be specified.
A restaurant in Sharjah on Monday issued bills after assuming the TRN and charging 5 per cent VAT to the total. A agent said: “We came to apperceive about the TRN affair today. The affair is apparent now.”
Ministry of Accounts approves aboriginal acquirement balance with VAT
ABU DHABI: The Admiral of Accounts (MoF) on Tuesday issued the aboriginal VAT-inclusive acquirement order, and
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