Taxability of ‘recharges’, typically applicability of VAT is a subject matter of debate and interpretation across the VAT jurisdictions. The term ‘recharge’ also commonly known as ‘recovery of cost’ is generally not defined in the legal statues but has gained significant importance from a VAT determination viewpoint, purely because it is not clear whether a recharge in itself involves any supply of goods or services attracting VAT.
Source: khaleejtimes.com
Latest Posts in "United Arab Emirates"
- FTA Clarifies VAT Adjustments Following Exit from a VAT Group
- UAE Defines E-Invoicing Scope and Implementation Timeline via Two Ministerial Decisions
- FTA Publishes First Standalone Education Sector VAT Guide (VATGED1): Zero-Rating Sharpened, Ancillary Supplies Recalibrated
- VAT IT listed as a Pre-Approved e-Invoicing Service Provider (ASP) by the UAE Ministry of Finance
- Comarch Approved as an E-Invoicing Provider in UAE
