VAT - Value Added Tax Implementation in UAE Infonet Institute
Value added tax is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services. It is a consumption tax because it is borne ultimately by the final consumer. It is not a charge on businesses as it is charged as a percentage of price, which means that the actual tax burden is visible at each stage in the production and distribution chain. It is collected fractionally, via a system of partial payments whereby taxable persons (i.e., VAT-registered businesses) deduct from the VAT they have collected the amount of tax they have paid to other taxable persons on purchases for their business activities. This mechanism ensures that the tax is neutral regardless of how many transactions are involved.
VAT is paid to the revenue authorities by the seller of the goods, who is the "taxable person", but it is actually paid by the buyer to the seller as part of the price. It is thus an indirect tax.
This course is no longer available.
Course details
Value added tax is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services. It is a consumption tax because it is borne ultimately by the final consumer. It is not a charge on businesses as it is charged as a percentage of price, which means that the actual tax burden is visible at each stage in the production and distribution chain. It is collected fractionally, via a system of partial payments whereby taxable persons (i.e., VAT-registered businesses) deduct from the VAT they have collected the amount of tax they have paid to other taxable persons on purchases for their business activities. This mechanism ensures that the tax is neutral regardless of how many transactions are involved.
VAT is paid to the revenue authorities by the seller of the goods, who is the "taxable person", but it is actually paid by the buyer to the seller as part of the price. It is thus an indirect tax.
Updated on 17 July, 2019Course Location
About Infonet Institute
Infonet Institute, a leading Educational and Training Organization in Dubai, UAE is a Management & Soft Skills Training Centre Established in the Year 1999. The Institute has a thrust on Professional Short Term Management Courses aimed at working Professionals. The Company also has a significant business in the Institutional segment where it offers learning solutions to corporate and individuals. The Institute has consistently redrawn educational paradigms, introducing new facets to educational courseware, delivery and certifications.
Member of American Institute of Business & Management
VAT Related Questions
- Basic Business Finance Apex LearningAED 82
AED 771Duration: Upto 1 Hour - Online VAT John AcademyAED 90Duration: 7 To 8 Hours
