Thanks sir for very helpful information. I have a question that,a person having bachelor degree can he/she provide services to different companies for vat registration or filing? Or is he/she required a license or approval from UAE Government.
@chiragmodi93384 жыл бұрын
Sir, a Designated Zone Company sells goods to its customer in Main Land under DDP (Duty Delivered Paid) terms, The Goods is Cleared under Customer's Importer code and appearing in Box 6 "Goods Imported". Hence Designated zone company is not charging VAT to main land customer and main land customer is accounts for RCM. is this correct ? please advise.
@rajabconstructionco.99732 жыл бұрын
Very good information helpful and great advice excellent explanation valuable video thanks you God bless you brother jazak Allah hu khair brother I am from India 🇮🇳
@khaledsalama48116 жыл бұрын
This is excellent, thank you for a brilliant interpretation. Regarding VAT treatment on retention amount in a construction contract. Please correct if I am wrong on the following. •Retention money which is retained from progressive invoices is the amount which starts from 01-01-2018 until completion of the contract: - is not taxable at this point •Retention money is due and will be released: - is taxable at this point •Retention release for works - pre VAT period: - is not applicable to account VAT. •Retention release for works - post VAT period: - is taxable at the point of invoice or payment which one happens earlier. Thank you.
@Emiratescagroup6 жыл бұрын
Dear Sir, please stay tuned. We shall be uploading a video soon on Retention. We provide optimized VAT Services, for any assistance please contact our office 04 250 0290.
@sagardhawan94876 жыл бұрын
Waiting for the Video on retention
@maqsoodtareen33556 жыл бұрын
Thank you so much. It was very helpful. I am from designated free zone company. which Used cars & automotive market (DUCAMZ).
@mannojjaiin71425 ай бұрын
Sir, Is any video link for high sea export treatment in vat return .. if yes pls share
@visionplacement36252 жыл бұрын
Sir kindly make video on journal entry of VAT and VAT return according to coloumn...on portal
@mhamadshareefshareefk154 жыл бұрын
If one Designated zone (A)Selling Raw material(ie Cigarttee paper for producing cigratees) to another designated zone (B).Designated zone (A) have to charge VAT?
@Emiratescagroup4 жыл бұрын
Dear Mhamad Shareef, if you are selling goods from one designated zone to another designated zone there is no need to charge VAT.
@lijilks2 жыл бұрын
If a designated zone company purchase petroleum products (which are exempted ) from main land. What is the treatment for the same for sales and purchase. ?
@samanthagagarin27875 жыл бұрын
Thank you for informative video. Just to clarify, as a DZ company, how do we report a sale transaction from DZ to UAE mainland in the VAT 201 Form? I understand from the point of view of the buyer, there will be 5% VAT but as seller, will it be a part of my VAT reporting or not? If yes, under which column?
@NaffarHussainOfficial4 жыл бұрын
For FZ company will be out of scope and For mainland company will apply RCM For more detail whatsaap 00971554453681.
@victoriagulcil43503 жыл бұрын
Dear Sir, our company located in designated zone bills to mainland company for container purchase and ocean freight and other services in Karachi, Pakistan. Container departed from Ajman, and going to Karachi. Should we add VAT 5%? or will it be considered as out of scope? or will it be 0- rated as international freight forwarding? How should we declare it in VAT returns? Thank you.
@santoshbehera25585 жыл бұрын
Could you please clarify, as a Designated Zonecompany, how do we report a sale transaction from Designated Zone to UAE mainland in the VAT 201 Form? I understand from the point of view of the buyer, there will be 5% VAT but as seller, will it be a part of my VAT reporting or not? If yes, under which column?
@Emiratescagroup5 жыл бұрын
Dear Santosh, to determine the transaction kindly specify if it is for goods or services as there is different applicability.
@santoshbehera25585 жыл бұрын
@@Emiratescagroup for sale of Goods
@Emiratescagroup5 жыл бұрын
@@santoshbehera2558 in case of Sale of Goods, the designated zone company has no liability to disclose this sale to mainland in VAT 201 as it is RCM for the recipient.
@prafulsahu7 ай бұрын
is VAT applicable on Personal Account?
@bilalabbas26726 жыл бұрын
Great video! but still, need to the clear the sales transaction between to DZF to a mainland. I guess the DFZ company will issue an invoice without VATand mainland company treat as import and record under RCM. Please confirm if is it correct?
@sagardhawan94876 жыл бұрын
Yes, correct
@NaffarHussainOfficial4 жыл бұрын
Yes agreed
@HALLIAN4223 жыл бұрын
Yes agreed, but in his presentation he said VAT will be collected and paid to FTA
@khaqanbutt48646 жыл бұрын
sir, If sales from Designated zone to UAE Main land company, RCM is applied? Does this purchase information automatically appear in FTA site under row no 6 under the heading GOODS IMPORTED INTO THE UAE
@vatcentricltd83306 жыл бұрын
It would not automatically apply- you would need to manually enter the amount under 7 Adjustments to goods imported into the UAE*
@rahulr97625 жыл бұрын
in my knowledge as the mainland company clears the goods to mainland there name will appear in the customs records and this will appear in FTA site automatically. RCM is applicable to them.
@NaffarHussainOfficial4 жыл бұрын
@@rahulr9762 Correct
@maqsoodtareen33556 жыл бұрын
So my question is I will have to pay VAT only when I am selling within UAE if I sell it outside UAE I dont have have to pay VAT. and secondly when I import from Japan to UAE. I dont have to pay VAT?
@vatcentricltd83306 жыл бұрын
So long as goods don't enter mainland UAE or are used , then the VAT would not apply.
@theviper42046 жыл бұрын
Sir, we (UAE Company) are getting purchase bill from FZ company with TAX. & same amount also shown in FTA site, column number 6 goods imported into UAE. how we adjust vat while filling vat return as we already paid vat to the supplier at the time of import to local from FZ ?
@sagardhawan94876 жыл бұрын
FZ company should not charge VAT on the bills issued to Mainland. It can also be possible that FZ company does not fall into the category specified by FTA Cabinet. Your company can take the input credit of VAT charged by supplier(as you are paying the same). Now, the FTA site will also be showing the import as the FZ co. must have imported the goods in your Import code. You can reverse that amount in the FTA site itself Cloumn No 10
@rahulr97625 жыл бұрын
In my knowledge FZ company should not charge tax . As mainland company clears goods to mainland from FZ there name will appear in the FTA and Customs records. However you can take the tax credit for the vat charged by FZ co. as it collected by the FZ co. Also for the import appearing in the FTA site you can claim as per RCM.
@ratheeshkr76496 жыл бұрын
sir, our company situated in a designated zone and we purchase material from the same designated zone.First, I need to know that vat applicable in this case or not, if not how it would be showing in the vat return filing.
@sagardhawan94876 жыл бұрын
No vat should not be charged. Also it will not be shown in VAT return as it is out of scope
@vatcentricltd83306 жыл бұрын
although there are conditions for it to remain as outside the scope.
@irfanahmed81476 жыл бұрын
Sir, if Desingated zone (DZ) company sold goods to mainland company then it must be without vat and reverse charge is applicable. Please clear this confusion as from this video you said that they (DZ) will charge VAT. Waiting for you reply. Thanks
@sagardhawan94876 жыл бұрын
yes
@khaqanbutt48646 жыл бұрын
Sir, when sales from DZ to Mainland company, Does it automatically appear in ROW No 6 under the heading GOODS IMPORTED INTO THE UAE ( RCM ) or purchaser have to account for VAT it self.
@sagardhawan94876 жыл бұрын
@@khaqanbutt4864 no it will not upload automatically You have to book the entry for output as well as input
@sajukrishnan92035 жыл бұрын
Can you please explain the VAT Applicability of a Company in Main Land and another in DFZ ( Case : If the company in main land got an order from a company in DFZ and the mainland company purchase it from Outside GCC and directly supplied to the company is DFZ .whether the company in Main land to charge VAT to the DFZ . Thanks in advance for the advise
@Emiratescagroup5 жыл бұрын
Dear Saju, if you are purchasing from outside UAE and the goods is not coming under reverse charge mechanism, then it will be outside the scope of VAT. But if these supplies is coming under reverse charge mechanism, then you have to charge VAT.
@Kottakkalajman6 жыл бұрын
Sir, we (UAE Company) are getting purchase bill from Designated Zone (UAE) without TAX.
@shamraizihsan35586 жыл бұрын
Your right mibin no vat will be charged by designated zone company if he sells goods in the mainland. You need to records the goods under reverse charge mechanism as it will be treated as import.
@muhammadjavediqbal63206 жыл бұрын
Excellent
@Emiratescagroup6 жыл бұрын
Thank you Sir.
@jawharshaw4326 жыл бұрын
Emirates Chartered Accountants Group said
@prafulsahu7 ай бұрын
Can an Individual register for VAT?
@zeeshanashraf44957 ай бұрын
Yes as a Sole proprietorship (Natural person)
@itsmefa15 жыл бұрын
Hi thank you for sharing such Informative videos. Could you please clarify my below doubt, If a company in a designated zone pays for the purchase from a company which is outside the UAE, and then before the goods reaches UAE it issues a sales invoice and sells the goods to another company which is in the UAE Mainland. The customer ( mainland company ) pays the customs and clears the goods by themself. In this case, does the designated Zone company has to issue 5% tax invoice or no.
@rahulr97625 жыл бұрын
In my knowledge as the mainland company clears the goods to mainland there name will appear in the customs records and RCM is applicable to them. The Designated zone company need not collect tax.
@MaqAD-6f2 жыл бұрын
Not clear pic with example
@visionplacement36252 жыл бұрын
Sir if we have problem in vat return we could with you by whatsapp masg