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November 17, 2017, 11:05 am
VAT is expected to be implemented in the UAE with effect from 1st January 2018. While the VAT Registration in the UAEawaits let us get clarity on how VAT Invoices should be maintained for every businesses in the UAE as per the latest information by the Federal Tax Authority (FTA).
According to the FTA, there will be two kinds of inovices for VAT in the UAE. Supply for less than the specified amount will be considered to maintain a simplified VAT invoice – specifically for supermarkets and retail industry. However, supply for more than the specified amount will have to make a detailed invoice.
Simplified VAT invoice for supply less than the specified amount should consider the below:
The VAT invoice for supplies above than the specified amount should consider the below: