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VAT Calculator Online UK / UAE

What is a Value-Added Tax - VAT
A value-added tax (VAT) is a type of consumption tax that is placed on a product whenever value is added at a stage of production and at the point of retail sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed.

More than 160 countries around the world use value-added taxation; it is most common in the European Union. But it is not without controversy. Advocates say it raises government revenues without punishing success or wealth, as income taxes do; it is also simpler and more standardized than a traditional sales tax, and there are fewer compliance issues. Critics charge that a VAT is essentially a regressive tax that places an increased economic strain on lower-income taxpayers, and also adds bureaucratic burdens for businesses.


When are enrolled organizations required to document VAT returns in UAE?

Citizens must record VAT returns with the FTA all the time (quarterly or for a shorter period, as the FTA choose so) inside 28 days from the finish of the expense time frame as per the strategies determined in the VAT enactment. The Tax returns will be recorded web based utilizing e-Services.

Posted 21 October, 2018

Is VAT applicable for company outside UAE?

VAT can only be charged on registered company or person, in or outside UAE.

Posted 21 October, 2018

How do excise and duties impact the VAT in GCC?

Excise and customs taxes should be treated differently to VAT and often come under different laws. So from a VAT solution set up you can ignore the excise taxes as you will be invoices separately for these.

Posted 21 October, 2018

If one land positions on long haul/here and now contract on day by day procure rate premise. Charging will be once in multi month. Is there any run to issue receipt each 14 days, or would one be able to proceed within present month to month charging?

For day by day supplies one duty receipt can be issued. Such receipt will incorporate synopsis of all provisions made and ought to be issued in same timetable month.

Posted 21 October, 2018

What would make you want to live in Dubai even if there was income tax?

Let's face it, the way things are going these days (VAT, falling oil prices with no end in sight) it's a matter of when and not if. So, redditors of Dubai, what is it that would make you stay in Dubai even if there was, let's say, a nominal income tax (5-10%)? For example, would permanent residency be enough to sway your mind?

Posted 8 February, 2018

Are there any other reporting requirements needed for VAT?

Besides answering to the assessment specialists the amount VAT you have gathered and paid, there are other detailing prerequisites that may wind up significant.

Posted 21 October, 2018

Will VAT be added to the transportation costs on the off chance that one conveys an individual bundle or payload?

No, however this is liable to change and custom obligations might be liable to VAT.

Posted 21 October, 2018

In rational terms, what are the consistence requirements under VAT for associations?

At an anomalous state, affiliations ought to have the ability to track and record VAT on every last trade they endeavor as a business, to exhibit the sum VAT they either accumulated or paid at an esteem based level. Around the complete of the period, which can be on multi month to month, quarterly or even on a yearly preface (consistently for free endeavors), they compress this information into a VAT return. This at that point ought to be reported into the appropriate government entryway (or in a couple of countries, fit as a fiddle).

Posted 21 October, 2018

Need advice on UK Mortgage from HSBC Bank Dubai

27 male single from UK living here in Dubai. So question is I want to buy a house in the UK BUT do I get a mortgage in the UK or a mortgage to cover the house here? My company is 50% owned by HSBC so they are offering good rates (so they tell me)</p> <p>Is this a bad idea? Do I get anything extra or better from getting a mortgage here like tax exemptions? </p> <p>I must also point out that i&#39;m not a first time buyer (names on parents mortgage even though I don&#39;t pay to it) </p> <p>Thanks all for the advice and help

Posted 12 February, 2018

What is the liability of VAT in UAE?

The obligation of VAT is the distinction between the yield impose payable (VAT charged on provisions of merchandise and ventures) for a given expense period and the info assess (VAT acquired on buys) recoverable for a similar duty period. Where the yield assess surpasses the info impose sum, the distinction must be paid to FTA. Where the information assess surpasses the yield charge, an assessable individual will have the abundance input impose recouped; he will be qualified for set this off against resulting installment because of FTA.

Posted 21 October, 2018