VATupdate
VAT

NBR releases FAQs and notification form for obsolete stock

Following the guidance published in the VAT Retail and Wholesale Guide, the National Bureau for Revenue (NBR) has now issued further details on the VAT treatment of obsolete stock in the technical FAQs on their website. They have also made available the form to be used by taxpayers in order to notify the NBR of any obsolete stock that they intend to dispose of.

Source: PwC

* click here if you have interesting news to share *