The UAE VAT Decree-Law No (8) of 2017 defines a Tax Credit Note as a “written or electronic document in which the occurrence of any amendment to a Taxable Supply that reduces or cancels the same is recorded and the details pertaining to it”. As per the Law, a VAT-registrant is required to issue an original Tax Credit Note when a reduction in Output Tax happens in relation to any supply made by the registrant.
Source: jcauaeaudit.com
Latest Posts in "United Arab Emirates"
- UAE Launches eInvoicing 4-Corner Model, Advancing Digital Transformation for Businesses
- Comarch Named FTA-Approved Accredited Service Provider for UAE E-Invoicing Mandate Compliance
- UAE VAT Recovery Deadline: Last Chance to Claim 2018–2021 Input Tax Before It Expires
- UAE E-Invoicing: Key Regulations, Scope, and Implementation Timeline for Businesses
- Dubai Customs Temporarily Extends Transit Period to 90 Days for Supply Chain Continuity
