What is VAT?*

Is the following an example of an input or an output? Making a supply of services to a business in Abu Dhabi*

Is the following an example of an input or an output? Buying goods from a distributor to be sold by your organization *

When making a supply to a customer of something that you have bought to re-sell, the VAT rate on the input is always the same as the VAT rate on the output:*

When making a supply to a customer of something that you have bought to re-sell, the VAT charged to the customer is calculated by reducing the output tax due to be charged by the input tax incurred in purchasing the goods:*

Business A” buys goods from VAT registered Business B. Business A does not pay the invoiced amount (net amount + VAT) before he files his VAT Return. Will Business A be in a positive cash position when he files his VAT Return?*

Which of these is not a rate of VAT in the UAE?*

Abdullah Enterprises is a UAE VAT registered business. Abdullah Enterprises has engaged a consultant in the UAE (also a UAE VAT registered business) that will provide business development services and sales leads. The consultant has an office in the Abu Dhabi and is only VAT registered in the UAE. In the course of his business activities, the consultant makes phone calls from the UAE to potential customers in the UAE and the GCC, and to Non-GCC businesses. He will also physically travel around the GCC and to non-GCC countries to meet with potential customers and clients. Should the UAE consultant be charging VAT on all of his services?*

What is a reverse charge?*

What is the appropriate evidence for deducting VAT on a domestic purchase?*

A UAE Business must only issue invoices in English language:*

VAT is charged on:

At which percentage is VAT levied in UAE?

Zero-rated supplies form part of:

An entity (Al Moosvi Traders) purchases an item of inventory for AED570 (including VAT) and sells the item for AED1500 (excluding VAT). You may assume that Al Moosvi Traders International is a registered VAT vendor.

The input VAT amount that can be claimed back is:

An entity (Al Moosvi Traders) purchases an item of inventory for AED570 (including VAT) and sells the item for AED1500 (excluding VAT). You may assume that Al Moosvi Traders International is a registered VAT vendor.

The output VAT amount payable would be:

What is the value of the cost of inventory (for Al Moosvi Traders) when purchased and the value of the sale when the item is sold?

Zero-rated supplies are no different to exempt supplies.

When preparing the statement of profit or loss, the amounts reflected under both expenses and income will be the consideration paid of the item bought or sold.

All financial records should be kept for a period of