VATupdate

UAE VAT Public Clarification on Bad Debt Relief Adjustment

Four conditions must be met:

  1. VAT charged and accounted for (to FTA via tax returns) on the supply
  2. Consideration should have been written off in full or part
  3. More than 6 months should have passed from the date of supply
  4. Supplier should have notified the customer that amount has been written off

Source: premier-brains.com

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