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REGISTRATION OF NON-RESIDENT IN BAHRAIN

Non- resident selling to non-resident Non-Residents (with no fixed place of business or fixed establishment) are required to register for VAT within 30 days from the first taxable supply to non-taxable persons in Bahrain, regardless of the registration threshold...

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Deemed supply for charitable organisation

Deemed supply Deemed supply as per article 11 of the Decree-law are: Supply of goods or services which formed whole or part assets without consideration. Permanent transfer of goods by a taxable person which consisted a part of his business assets from the state to...

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VAT on goods given as gift or for personal use

The VAT is payable when a taxable person makes a taxable supply or deemed supply. Taxable Supply is when Goods or Services individually or together are supplied for a Consideration by a Person conducting Business in the State and does not include Exempt Supply....

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Barter exchange liable to VAT

Barter Exchange is a system of exchange where participants in a transaction exchange goods or services for other goods or services without using money as a mode of consideration. Barter exchange may include exchange of goods in return of services, exchange of goods in...

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What is VAT payable as per UAE VAT

VAT payable is the liability of the registrant to pay the tax at the end of the applicable tax period (usually 3 months) to the government VAT payable shall be calculated as output tax payable- total recoverable tax. Tax recoverable is the amount of tax paid by the...

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Multiple Supplies in UAE VAT

Supply of combination of more than one good or services is a common business practice. Supply of more than one component results into multiple supplies. When the supply of good or services can not be provided separately, they fall under supply of composite supply....

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Deemed supply for VAT in UAE

Deemed supply as per article 11 of the decree law Supply of goods or services which formed whole or part assets without consideration will be considered as deemed supply. Permanent transfer of goods by a taxable person which consisted a part of his business assets...

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Declaration for RCM on gold and diamonds

Cabinet Decision 25 of 2018 specifies RCM on gold and diamond. RCM will apply if a registered dealer purchases gold or diamond for the purpose of resale or for further manufacturing. The supplier shall not be liable for calculating the Tax in relation to the supply of...

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How to sign up on FTA website

When you arrive at the FTA website, you will notice in the top right-hand corner of the screen you have the option to either Sign up to the e-Services account service, or Login to an existing e-Services account. Follow the steps below to create an e-Services account...

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How to correct Import value in VAT return?

Net value and the output tax (i.e. VAT amount) due on goods imported into the UAE are reported in Box 6 of VAT return form 201. Value is auto-populated based on imports declared by the taxpayer under his customs registration number. It includes the value of all import...

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Tax group in Designated Zone

Business established within a Designated Zone is eligible to form a tax group with an onshore company (or companies) or another Designated Zone company (or companies), provided the criteria for forming tax group is fulfilled. Eligibility criteria for forming tax group...

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