Export of goods & Milestone Invoicing
In case of goods exporting from UAE to a foreign customer, Invoice are issued on a milestone basis based on progress of manufacturing of material but physical goods(final product) is moved out of country upon completion of manufacturing (Which in some cases requirer 6 months or a year). Zero rate supplies to be declared after actual export(goods moved out of country) or at the time of issuing milestone Invoices?? In case of time of actual export, how should milestone Invoices be treated (Zero rated/Taxable)?
24/05/2021 19:32:24
Replies
Ujjwal Pawra07/06/2021 00:51:52
DOS is upon issuing the invoice. Post issuing invoice for exports, goods should physically move outside with 90 days. In case of a delay, an approval is required.
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