- FTA stresses on accurate Emirate-specific VAT reporting in e-commerce
- Qualifying registrants must record e-commerce supplies in box 1 of the VAT Return according to the Emirate in which clients receive the supplies
- Failure to comply with the new reporting requirements may lead to errors and penalties
- Conditions for supplies to come under e-commerce medium include being listed on the Internet and ordered online
- New guidance requires informing Emirates about e-commerce and non-e-commerce standard rate supplies and the AED 100 million threshold
- Registrants must comply with new aspects starting July 1, 2023 for 18 months
- EmaraTax system will help taxpayers verify if they are qualifying registrants for the new e-commerce supplies rules
Source: nrdoshi.ae
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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