Import of Services - Accounting for Output Tax, Issuing Tax Invoices and Input Tax Recovery

Описание: Key Insights from the Federal Tax Authority's Latest Public Clarification on Concerned Services |

The FTA has released public clarification on Accounting for Output Tax, Issuing Tax Invoices, and Input Tax Recovery for services imported into the UAE. Here's what businesses need to know:

1. Reverse Charge Mechanism: Account for output VAT on services from non-VAT-registered foreign suppliers.

2. Self-Issued Tax Invoices: Required for VAT compliance, but FTA allows exceptions if you retain the supplier’s invoice or apply for relief.

3. Input Tax Recovery: Recover VAT based on use for Taxable Supplies.

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