In a VAT registered person's books of account, VAT should not be included in income or expenditure account. This is because a VAT registered person is a collector of tax, which is neither his income ...

Compliance with the UAE VAT Law may require significant changes to the technology, operations, financial management and bookkeeping practices in businesses, according to Mansoor Sarwar, Director ...

ITAT Ahmedabad deleted an addition made due to a minor difference between a firm's VAT returns and its books of account. Tribunal ruled that variation was a legitimate bookkeeping consequence of ...

The ambit of VAT is not limited only to tax calculation; it is also expected to change the way that millions of enterprises in the UAE do business. Every taxable entity registered under VAT has to ...

I've just been approached by a new client (resaturant) who has just begun to trade. They have already registered for the VAT accounting scheeme. I've ...