Most of the businesses in the UAE purchase, rent or lease motor vehicles to be used for business purposes. Such motor vehicles are considered as part of the company’s assets. However, companies need to consider the VAT implications when they try to sell or dispose of motor vehicles that are business assets. VAT was introduced on 1st January 2018 and what could be the VAT implications on vehicles purchased on or before that date? And what will be the VAT implications of vehicles purchased on or after 1st January 2018? VAT consultants in Dubai can come in handy for you to find solutions for such questions.
Alternatively, this article serves as a guide for you to find answers to this question. Read ahead.
Source: jcauaeaudit.com
