How to prepare VAT Invoices in the UAE?

Tax Service in UAE

How to prepare VAT Invoices in the UAE?

VAT is expected to be implemented in the UAE with effect from 1st January 2018. While the VAT Registration in the UAE awaits let us get clarity on how VAT Invoices should be maintained for every business in the UAE as per the latest information by the Federal Tax Authority (FTA). According to the  FTA, there will be two kinds of invoices for VAT in the UAE. Supply for less than the specified amount will be considered to maintain a simplified VAT invoice – specifically for supermarkets and retail industry. However, supply for more than the specified amount will have to make a detailed invoice.

A simplified VAT invoice for supply less than the specified amount should consider the below:

  • “tax invoice” in a prominent place
  • Name, address & TRN of supplier
  • Date of issue
  • Description of goods or services
  • Total amount payable
  • Total VAT chargeable

The VAT invoice for supplies above than the specified amount should consider the below:

  • “tax invoice” in a prominent place
  • Name, address & TRN of supplier
  • Name, address & TRN of recipient (where they are a registrant)
  • A sequential or unique identifying number
  • Date of issue
  • Date of supply if different to the date of issue
  • Description of goods or services
  • Unit price, quantity or volume supplied, rate of tax and amount payable in AED
  • Value of any discount offered
  • Gross value payable in AED
  • Tax amount payable in AED
  • Statement relating to reverse charge if applicable

Emirates Chartered Accountants Group offers TAX Services in the UAE to the clients by giving them proper guidance and assisting them to comply with the new TAX provisions in the UAE. For VAT Agent, VAT Registration, VAT Implementation, VAT Return Filing Services in the UAE please contact our below representative:

  Note: This blog is prepared from the latest information obtained from the discussion/briefing done by the Federal Tax Authority.

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