Intricacies of Designated Zone in UAE and it's VAT and Customs Obligations. Buy Now!!

Profit Margin Scheme

In case of supplies under Profit Margin Scheme, is it required to be shown tax base and the VAT amount separately on the Tax Invoice? Or it needs to  be present the figures as  inclusive of vat only  on the Tax Invoice? 

SAJITH NAIR22/09/2021 14:16:32

As per Article 29(6) of ER, the tax invoice should not specify VAT amount on the invoice. Further it should specify that the Tax was charged with reference to the profit margin.

0 Like  
Nusrat Abbas22/09/2021 15:58:18

Thanks Sajith.

0 Like  

Reply :

Login to reply. click here


Submit Query