Hi, thanks for the very valuable videos. Regarding the place of business, are you sure the filing of the emirates is not based on the customer location? Let us say, there is a company setup if Freezone A, its employees are located in Emirate C and work online, they deliver service in emirate B. What do you think should be the correct emirate for filing?
I purchased ( Vat Not Charged on Purchase) gold bars to resell and investment purpose . How it will be treated. Whether it will be Zero Vat or should we have to declare in Vat returns
Dear, thanks for making such videos. i want to know, if there is not transaction ( Like no Sales and No Expense) what should i file, all Zero. kindly advise. waiting for your valuable reply.
Hi Sir, If we forget some sales invoices in vat return filling, we can adjust or add them in the next quarter. Please guide me. I will be waiting for your reply
Well this is a good question. If the income is accrued, then that could mean the supply has been provided but the payment has not been made. If that is the case, then VAT is due. -MSI team
Hi, Dear, thanks for the knowledge. i want to know, if in previous quarter vat return we missed some input invoices to be punched and file the return without them then in subsequent return can we add those invoices also without filing voluntary disclosure as the error is less than 10000?? waiting for your reply
We normally recommend not to claim, but technically, they are claimable as long as it is for office purposes and the amount spent was a reasonable amount.
I have sent a invoice to customer on 25th April 2022. Then i paid the vat to Fta. Customer still not paid. Now invoice amount is reduced. How i can claim the Vat extra payment
Hi, may I know if we can still claim input Vat even without our company TRN written in the invoice? For some reason, the supplier failed to write our TRN.
Our recommendation is to always to get the TRN mentioned in the TAX Invoice. You may request your supplier to revise the invoice for you. You find the recovery conditions in our older video below - th-cam.com/video/-7X0eGrE0W4/w-d-xo.html
1, Does both Zero rated supplies & exempted supplies are required to furnished in portal? Do i need to pay fine if i failed to mention 2, If we don't have BOE for export, do we need to mention the amount in Zero rated supplies? 3, If its mandatory to mention amount, it should be with custom duty or without custom duty?
1) it is required to be furnished in the return. The penalty will be applicable when FTA discovers this error. There will also be a penalty if a voluntary disclosure is done. 2) if the customs support does not exist then it does not qualify as 0 rated and 5% will apply 3)For 0-rated sales, invoice value is to be mentioned. - MSI Team
@@MSIAuditors Thanks for made me understand. Final question. We have two companies in uae. Sometimes we two do invoicing eachother. One company in jafza and another company in mainland. My question is when zero rated supplies applicable as follows 1, Does zero rated applicable when Supplies from Jafza to Jafza company? If yes, should I issue only zero rated tax invoice 2, Does zero rated applicable when Supplies from Jafza to mainland companies? If yes, should I issue only zero rated tax invoice? 3, Does zero rated applicable when supplies from mainland to jafza? If yes, should I issue zero rated tax invoice. I use to furnish the figure in Zero rated supplies field when we supply goods through port when we have Bill of entry and i do same for import under reverse charge mechanism. Is it mandatory to mention the amount when we supply goods from jafza to mainland or to outside uae without customs documents? Is it mandatory to mention the amount when we do local purchase and when supplier gives zero rated invoice? If yes, where to mention in fta portal field or is it out of scope?
@@MSIAuditors there are three companies.. Two company in jafza and one company in mainland dubai.. Each companies have different trade license and vat certificate
@@rayyu216 1) In general out of scope, but need to get into the specifics to be sure. 2) In general out of scope, but need to get into the specifics to be sure. 3) In general 5%, but need to get into the specifics to be sure.
hello sir it is new company and we spent a lot expenses at the beginning we did not begin the work yet can i claim for those expenses? regarding rental a building for company activities for upcoming one year how can i fill this in vat form and what about foundation expenses?
If these expenses were incurred with the company name and have proper tax invoices and relevant supporting documents, they can be claimed in the first tax return after registration. -MSI Team
Sir,we have a group trn for two emirates abu dhabi and dubai trade license.we are invoicing from both.the main office is in abu dhabi.in which emirate we will file vat return
Dear Muhammad Idrees, That's a good question. You will need to provide the sales in the emirate where the fixed establishment of that relevant sale is. It is difficult to advise you on which emirate precisely without getting some more information of the nature business and how you conduct it. It will be better if you could call one of our team members at 0556460108 for a bit of quick free advice on the same. - MSI Team
Dear sir, We have one pharmacy shop we sell retail from there and now we start wholesale from our office. My dought is can we make a tax invoice to the pharmacy office to sell the item at a cost price? to maintain the stock and generate an income report. Thank you
Hi Sachin, It is not clear to us what the exact question is, can you clarify, please. You can surely raise an invoice from the wholesale trading company to the pharmacy, the VAT will still need to be paid for the final sale to the customer from the pharmacy. -MSI Team
@@MSIAuditors actually pharmacy will sale the item to office(wholesale) and office will sell the item to final customer..... In between pharmacy and office VAT become zero only remaining 1st supplier and final customer (from the office sale). My question there is any issue if I bill pharmacy to office at same cost price.?
@@sachinkoran9267 There is no issue in billing at cost price. However, it is recommended to maintain some margin for the existence of the business. -MSI Team
Sir, I would like to know if we can claim VAT but adjusting in our Input Tax for Expenses like VAT of Staff Medical Insurance, Office Premises Rent, Etisalat & Dewa Bills etc ?
Dear Rasikasom, Thank you for your question. Not fully clear what you mean by "adjusting" here. I assume you want to know if you can claim the expenses you have listed. As long as they are made for company purposes you can claim them. Do note if there are any expenses born by the company which is actually personal expenses of the employees they cannot be claimed. For example VAT of the medical insurance of dependants cannot be claimed. Even mobile bills that are in the personal name of the employees cannot be claimed. Hope this clarifies your question. -MSI Team
@@MSIAuditors We All are waiting for the upcoming uae vat payment how to register online and pay tax by detail in urdu language plz if you can explain in urdu language with details step by step so we All can get help from that vedio
Hi accountants, if you can answer me, if the error is only in the amount (net purchase) column but the tax amount is correct, is this considered as error?
Hi, thanks for the very valuable videos. Regarding the place of business, are you sure the filing of the emirates is not based on the customer location? Let us say, there is a company setup if Freezone A, its employees are located in Emirate C and work online, they deliver service in emirate B. What do you think should be the correct emirate for filing?
Dear sir,
we purchase goods and pay vat 5% and export these material so we have input but output vat is nil so we claim the input vat?
Thank you for making such a wonderful video. Thanks a lot.
Hi thanks...
I need to know more about shipchandlers vat filing, and vat reclaim process for the same. Plz advise.
It is very much similar to any other tax filing, we have discussed in another video, I will share the link with you below.
th-cam.com/video/9_4lYUdX5nI/w-d-xo.html
I purchased ( Vat Not Charged on Purchase) gold bars to resell and investment purpose . How it will be treated. Whether it will be Zero Vat or should we have to declare in Vat returns
HI How R U, It's Such a help full video,
Thank you for your positive feedback
Hello,
Can you please elaborate Zero rated and Exempt sales.
Dear, thanks for making such videos.
i want to know, if there is not transaction ( Like no Sales and No Expense) what should i file, all Zero.
kindly advise.
waiting for your valuable reply.
Yes you can file a nil return by entering 0 on all the fields.
-MSI Team
Hi Sir, If we forget some sales invoices in vat return filling, we can adjust or add them in the next quarter. Please guide me. I will be waiting for your reply
If the error is under AED 10,000 you may adjust in the next quarter, or else you will have to amend the filed return.
Thank you so much indeed for your time and efforts in posting this video brother
Thank you for the positive comments!
-MSI Team
Hello Sir,
The accrued revenue should be subject to VAT ?
Thank you
Well this is a good question. If the income is accrued, then that could mean the supply has been provided but the payment has not been made. If that is the case, then VAT is due.
-MSI team
Hi,
Dear, thanks for the knowledge.
i want to know, if in previous quarter vat return we missed some input invoices to be punched and file the return without them then in subsequent return can we add those invoices also without filing voluntary disclosure as the error is less than 10000??
waiting for your reply
Yes your understanding is correct.
- MSI Team
If we are buying Water , Coffee and other kitchen supplies ? These are recoverable ?
We normally recommend not to claim, but technically, they are claimable as long as it is for office purposes and the amount spent was a reasonable amount.
Thank you to make this video.
You are welcome!
For how long we can claim previous tax invoices ? for example if i received feb invoice and i am showing in june vat period is it correct ?
Input VAT claim can be claimed a maximum of 1 quarter late.
I have sent a invoice to customer on 25th April 2022. Then i paid the vat to Fta. Customer still not paid.
Now invoice amount is reduced. How i can claim the Vat extra payment
You may raise a tax credit note for the reduced amount.
Dear if we purchased some goods from none register suplier or witout vat expenses what is the treatment of those expenses and purchases in vat filing.
Thanks for reaching out. These expenses do not need to be disclosed in the return.
Hope this helps.
-MSI team
Hi, may I know if we can still claim input Vat even without our company TRN written in the invoice? For some reason, the supplier failed to write our TRN.
Our recommendation is to always to get the TRN mentioned in the TAX Invoice. You may request your supplier to revise the invoice for you.
You find the recovery conditions in our older video below -
th-cam.com/video/-7X0eGrE0W4/w-d-xo.html
1, Does both Zero rated supplies & exempted supplies are required to furnished in portal? Do i need to pay fine if i failed to mention
2, If we don't have BOE for export, do we need to mention the amount in Zero rated supplies?
3, If its mandatory to mention amount, it should be with custom duty or without custom duty?
1) it is required to be furnished in the return. The penalty will be applicable when FTA discovers this error. There will also be a penalty if a voluntary disclosure is done.
2) if the customs support does not exist then it does not qualify as 0 rated and 5% will apply
3)For 0-rated sales, invoice value is to be mentioned.
- MSI Team
@@MSIAuditors Thanks for made me understand. Final question. We have two companies in uae. Sometimes we two do invoicing eachother. One company in jafza and another company in mainland. My question is when zero rated supplies applicable as follows
1, Does zero rated applicable when Supplies from Jafza to Jafza company? If yes, should I issue only zero rated tax invoice
2, Does zero rated applicable when Supplies from Jafza to mainland companies? If yes, should I issue only zero rated tax invoice?
3, Does zero rated applicable when supplies from mainland to jafza? If yes, should I issue zero rated tax invoice.
I use to furnish the figure in Zero rated supplies field when we supply goods through port when we have Bill of entry and i do same for import under reverse charge mechanism. Is it mandatory to mention the amount when we supply goods from jafza to mainland or to outside uae without customs documents?
Is it mandatory to mention the amount when we do local purchase and when supplier gives zero rated invoice? If yes, where to mention in fta portal field or is it out of scope?
@@rayyu216 Are the 2 companies part of the same tax group?
@@MSIAuditors there are three companies.. Two company in jafza and one company in mainland dubai.. Each companies have different trade license and vat certificate
@@rayyu216
1) In general out of scope, but need to get into the specifics to be sure.
2) In general out of scope, but need to get into the specifics to be sure.
3) In general 5%, but need to get into the specifics to be sure.
Sir if my vat amount is correct but my taxable amount is incorrect that i submitted i should use voluntary disclosure form??
It is not compulsory to do so. However, it is still an error.
hello sir it is new company and we spent a lot expenses at the beginning we did not begin the work yet can i claim for those expenses? regarding rental a building for company activities for upcoming one year how can i fill this in vat form and what about foundation expenses?
If these expenses were incurred with the company name and have proper tax invoices and relevant supporting documents, they can be claimed in the first tax return after registration.
-MSI Team
@@MSIAuditors sir if one company didn't have TRN at the time of expenditure and later he got registered in vat can it claim later?
@@lostnfound9862 Yes this is possible.
Sir,we have a group trn for two emirates abu dhabi and dubai trade license.we are invoicing from both.the main office is in abu dhabi.in which emirate we will file vat return
Dear Muhammad Idrees,
That's a good question. You will need to provide the sales in the emirate where the fixed establishment of that relevant sale is.
It is difficult to advise you on which emirate precisely without getting some more information of the nature business and how you conduct it. It will be better if you could call one of our team members at 0556460108 for a bit of quick free advice on the same.
- MSI Team
Can I Include my shop rent tax in standard rated expenses? is it recoverable?
Yes as long as the supplies provided by you are not exempt from VAT.
-MSI Team
Dear sir,
We have one pharmacy shop we sell retail from there and now we start wholesale from our office. My dought is can we make a tax invoice to the pharmacy office to sell the item at a cost price? to maintain the stock and generate an income report.
Thank you
Hi Sachin,
It is not clear to us what the exact question is, can you clarify, please.
You can surely raise an invoice from the wholesale trading company to the pharmacy, the VAT will still need to be paid for the final sale to the customer from the pharmacy.
-MSI Team
@@MSIAuditors actually pharmacy will sale the item to office(wholesale) and office will sell the item to final customer..... In between pharmacy and office VAT become zero only remaining 1st supplier and final customer (from the office sale). My question there is any issue if I bill pharmacy to office at same cost price.?
@@sachinkoran9267 There is no issue in billing at cost price. However, it is recommended to maintain some margin for the existence of the business.
-MSI Team
Sir, I would like to know if we can claim VAT but adjusting in our Input Tax for Expenses like VAT of Staff Medical Insurance, Office Premises Rent, Etisalat & Dewa Bills etc ?
Dear Rasikasom,
Thank you for your question. Not fully clear what you mean by "adjusting" here.
I assume you want to know if you can claim the expenses you have listed. As long as they are made for company purposes you can claim them.
Do note if there are any expenses born by the company which is actually personal expenses of the employees they cannot be claimed. For example VAT of the medical insurance of dependants cannot be claimed. Even mobile bills that are in the personal name of the employees cannot be claimed.
Hope this clarifies your question.
-MSI Team
@@MSIAuditors Thanks for the insights really help. I am glad you guys are educating us.
@@rasikasom We are glad you find this content useful.
-MSI Team
What is a mistake that you have made when filing your VAT return?
Can we contact you directly?
@@aftabulislam6212 Yes you can contact us directly on solutions@msiauditors.com and 0556460108
@@MSIAuditors
We All are waiting for the upcoming uae vat payment how to register online and pay tax by detail in urdu language plz if you can explain in urdu language with details step by step so we All can get help from that vedio
@@aftabulislam6212 Thank you for your feedback. We will look into this option soon.
-MSI Team
Hi accountants, if you can answer me, if the error is only in the amount (net purchase) column but the tax amount is correct, is this considered as error?
Please explain in Hindi