Under UAE VAT law, normally VAT is calculated on the sales value. As an exception to that, the Federal Tax Authority (FTA) in the UAE has given an option to the Taxable person to pay VAT on the profit margin earned on the taxable supplies made which is known as Profit Margin Scheme.
Source: emiratesca.com
Latest Posts in "United Arab Emirates"
- UAE Introduces 24-Month Grace Period for VAT Group E-Invoicing on Intra-Group Transactions
- UAE Releases Electronic Invoicing Guidelines: Scope, Timelines, and Requirements for All Businesses
- UAE E-Invoicing Rules: Scope, Formats, Deadlines, and Penalties for Businesses Explained
- UAE E-Invoicing Compliance: Peppol 5-Corner Model, XML Standards, and FTA Reporting Deadlines
- UAE E-Invoicing Guidelines: Scope, ASP Selection, Mandatory Fields, Roles, Onboarding, and Compliance
