Thank you for your time and amazing explanation. Need your favour .If you can explain in detail what is taxable supply and taxable expenses and zero rated supply.Many thanks in advance
Hello brother! I have a question I don’t have any business and property any things like that but for Facebook payout account I need TIN number please guide me how can I get?
Hi Sir, our company located in Dubai ( Tax registered) doing businesses in IT products head office in Kuwait filing VAT from KWT . I will appreciate if you provide me the information which are as follow ; A. If we are selling our products in GCC countries .So can we charge vat on them or it would be zero rated & exempt supplies ? B. Vat on Purchases of goods & Expenses like Agility (warehouse services ), fuel bills ( for company vehicles), Etisalat ,DU , fees charged by Amazon, freight invoices ( some have vat & most are zero rated ) , will be recorded in Column#9 ( In form 201) or other column ?
Thank you for your question A In general, it is zero-rated, need to see if it meets the conditions though. B As long as you are allowed to claim these expenses you can claim them in the row for standard-rated expenses. - MSi Team
Dear sir my question is VAT compulsory or not? I have purchased goods from JAFZA without VAT invoice (Invoice without the TRN Number) and we are selling to another country. Please advise if VAT registration is mandatory.? I will be waiting for your reply soon.
If your product was purchased within JAFZA (by internal transfer) and exported, i.e. the product was never cleared into the mainland then no VAT needs to be charged. It will be an out-of-scope transaction.
We are in to company formation business and if we form 10 company in DMCC in 6 months, so technically sales is done by DMCC not by an agent, still we have to file VAT?
That is a good question, you only need to charge VAT on your invoice value, i.e. the service fee you charge the client to set up the business. Feel free to contact us for a free consultation.
My question is TRN Registration mandatory? we are not yet eligible for the Registration yet based on the Threshold limit for another 12 months! My question is can raise the Invoice without the TRN Number? will there be any penalties or any issues in doing so?
Hi Rakshitha H K, This is a question we receive very often. If you are not eligible for VAT, you do not need to register. All invoices you raise will not include 5% VAT, and will not have your TRN on them (as you do not have one yet). There is nothing wrong with raising an invoice without being registered for VAT. If you cross the threshold, you will have to start the registration process. If you want to understand when to register for VAT click here - ruclips.net/video/FEmr2AdgZNw/видео.html -MSI Team
Sir My question is that during the last tax, the government had to pay 4 thousand to me which is in my account Now this time I will pay 14 thousands to govt so what is the process the last vat return 4 thousand will automatically deduct from the current vat?
Hi Sir. Good Day! Our company was registered on VAT last 2018 and our business sales is going well but unfortunately this 2020 our sales drop and didn't reach the threshold due to the pandemic. Do i still need to de register ? What if by next months our sales will be back to normal? Please note that even we have a low sales, every quarter we are still paying VAT as the output is greater than input. .Please reply. Thank you
Dear Norlyn Flores, Yes, your company will have to deregister if you do not meet the turnover requirement. In the future, if your company again crosses the threshold, you will have to register again.
@@norlynflores2260 if you have crossed 12 months of not crossing the threshold by December, then you are late for the deregistration process. To solve your problem you can have a free consultation with our VAT experts, by calling 0556460108. Alternatively, you could email us at solutions@msiauditors.com - MSI Team
VAT is always charged on the sales, not on profit. The only exception is in the Profit Margin Scheme. This is however very rare. Mostly applicable only for businesses that are involved in selling second-hand products, or collector items. -MSI Team
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
Thank you for your time and amazing explanation. Need your favour .If you can explain in detail what is taxable supply and taxable expenses and zero rated supply.Many thanks in advance
Thank you so much indeed for your time and efforts in posting this video brother
We are glad you find our content useful. Thank you for the positive feedback.
-MSI Team
Are you having trouble registering for VAT in UAE? Comment Below! #vatexplained
Excellent work 👌
Thank you for your support!
- MSI Team
What is non-vat enrolment certificate????
Do you mean applying for a VAT exemption?
How can i change company name in VAT certificate...?
You will have to do it by amending your registration on the online portal.
-MSI Team
Hello brother!
I have a question I don’t have any business and property any things like that but for Facebook payout account I need TIN number please guide me how can I get?
Can you clarify, what is the nature of the face book payout?
@@MSIAuditors Means account ? I want to add personal bank account
@@iamIrfanFitrat Are you a resident in UAE? If so you are allowed to wait till you reach the threshold.
Hi Sir, our company located in Dubai ( Tax registered) doing businesses in IT products head office in Kuwait filing VAT from KWT . I will appreciate if you provide me the information which are as follow ;
A. If we are selling our products in GCC countries .So can we charge vat on them or it would be zero rated & exempt supplies ?
B. Vat on Purchases of goods & Expenses like Agility (warehouse services ), fuel bills ( for company vehicles), Etisalat ,DU , fees charged by Amazon, freight invoices ( some have vat & most are zero rated ) , will be recorded in Column#9 ( In form 201) or other column ?
Thank you for your question
A In general, it is zero-rated, need to see if it meets the conditions though.
B As long as you are allowed to claim these expenses you can claim them in the row for standard-rated expenses.
- MSi Team
How to link TRN to DEWA???
For this, you will have to do it directly from the DEWA portal or visiting them.
How re register vat in uae
Please see below a detailed step-by-step video on the same.
ruclips.net/video/9_4lYUdX5nI/видео.html
Dear sir my question is VAT compulsory or not? I have purchased goods from JAFZA without VAT invoice (Invoice without the TRN Number) and we are selling to another country. Please advise if VAT registration is mandatory.? I will be waiting for your reply soon.
If your product was purchased within JAFZA (by internal transfer) and exported, i.e. the product was never cleared into the mainland then no VAT needs to be charged. It will be an out-of-scope transaction.
We are in to company formation business and if we form 10 company in DMCC in 6 months, so technically sales is done by DMCC not by an agent, still we have to file VAT?
That is a good question, you only need to charge VAT on your invoice value, i.e. the service fee you charge the client to set up the business. Feel free to contact us for a free consultation.
Threshold value is yet to reach, do I still have to charge vat to my customers without trn number?
You must wait to have a TRN to charge VAT.
My question is TRN Registration mandatory? we are not yet eligible for the Registration yet based on the Threshold limit for another 12 months! My question is can raise the Invoice without the TRN Number? will there be any penalties or any issues in doing so?
Hi Rakshitha H K,
This is a question we receive very often. If you are not eligible for VAT, you do not need to register. All invoices you raise will not include 5% VAT, and will not have your TRN on them (as you do not have one yet). There is nothing wrong with raising an invoice without being registered for VAT. If you cross the threshold, you will have to start the registration process.
If you want to understand when to register for VAT click here - ruclips.net/video/FEmr2AdgZNw/видео.html
-MSI Team
@@MSIAuditors Thanks a lot for the Quick Reply. will be subscribing to the channel for further updates
Sir My question is that during the last tax, the government had to pay 4 thousand to me which is in my account Now this time I will pay 14 thousands to govt so what is the process the last vat return 4 thousand will automatically deduct from the current vat?
You can make a payment of the 10K directly. You can see how much is payable in the my payments section.
Hi Sir. Good Day! Our company was registered on VAT last 2018 and our business sales is going well but unfortunately this 2020 our sales drop and didn't reach the threshold due to the pandemic. Do i still need to de register ? What if by next months our sales will be back to normal? Please note that even we have a low sales, every quarter we are still paying VAT as the output is greater than input. .Please reply. Thank you
Dear Norlyn Flores,
Yes, your company will have to deregister if you do not meet the turnover requirement. In the future, if your company again crosses the threshold, you will have to register again.
@@MSIAuditors But it's already march sir. The eligibility should be last december right? We will be penalize for late de registration?
@@norlynflores2260 if you have crossed 12 months of not crossing the threshold by December, then you are late for the deregistration process.
To solve your problem you can have a free consultation with our VAT experts, by calling 0556460108. Alternatively, you could email us at solutions@msiauditors.com
- MSI Team
We need to file VAT ON SALES or on profit?
VAT is always charged on the sales, not on profit.
The only exception is in the Profit Margin Scheme. This is however very rare. Mostly applicable only for businesses that are involved in selling second-hand products, or collector items.
-MSI Team
Thank you so much
We are glad this was useful to you
-MSI Team
My company is Freezone Sharjah Media City
Is this the company that had done the JAFZA transaction? To get more clarity the customs document needs to be verified.