Sri Lanka struggled to contain the flow of runs in sunny conditions after lunch as Latham cruised to his 29th Test half-century
cricket2 hours ago
The UAE's Federal Tax Authority (FTA) on Saturday clarified whom between suppliers and end-consumers should pay value-added tax (VAT) on goods and services delivered in 2018.
As per the FTA's statement, the only case where consumers are directly responsible for paying VAT on services are those that were delivered fully or partially after VAT went into effect from January 1 and it stated that the amount due is exclusive of tax.
According to the FTA's statement, suppliers will be liable for VAT in two cases: if the contract states that the amount received against the good or service is inclusive of VAT; or if the contract issued to the consumer did not refer to VAT.
In the latter case, if the goods or services recipient is registered for tax, the amount due is treated as exclusive of tax. So the supplier has to ascertain whether the recipient is registered and the recipient ability to recover tax as per Article 70 of the VAT Executive Regulations.
The authority stressed that in all cases, the supplier remains liable for accounting for the tax and paying it to the FTA.
- waheedabbas@khaleejtimes.com
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