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Public Clarification on Tax Invoices

All the public clarifications issued by the Federal Tax Authority aim to ensure that the tax system is implemented in the most transparent and people-friendly way. The clarification on Tax Invoices VATP006 discusses the contents of the tax invoice and the situation in which the tax invoice should be issued.

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Public Clarification on Tax Invoices

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  1. PUBLIC CLARIFICATION ON TAX INVOICES

  2. A L L T H E P U B L I C C L A R I F I C AT I O N S I S S U E D BY T H E F E D E R A L TA X A U T H O R I T Y A I M T O E N S U R E T H AT T H E TA X S Y S T E M I S I M P L E M E N T E D I N T H E M O S T T R A N S PA R E N T A N D P E O P L E - F R I E N D LY WA Y. T H E C L A R I F I C AT I O N O N TA X I N V O I C E S VAT P 0 0 6 D I S C U S S E S T H E C O N T E N T S O F T H E TA X I N V O I C E A N D T H E S I T U AT I O N I N W H I C H T H E TA X I N V O I C E S H O U L D B E I S S U E D. W H AT I S A N I N V O I C E ? I N V O I C E S S E R V E A S L E G A L LY E N F O R C E A B L E A G R E E M E N T S B E T W E E N A B U S I N E S S A N D I T S C L I E N T S , A S T H E Y P R O V I D E D O C U M E N TAT I O N O F S E R V I C E S R E N D E R E D A N D PA Y M E N T O W E D. I N V O I C E S A L S O H E L P B U S I N E S S E S T R A C K T H E I R S A L E S A N D M A N A G E T H E I R F I N A N C E S .

  3. Why Should One Obtain and Keep Tax Invoices? The tax invoice is beneficial to the supplier and the customers as they remain valid proof that there existed an official business between the parties over certain goods or services during a particular period. Some benefits of obtaining and keeping tax invoices are the following For the supplier, the tax invoice dictates the time of supply, and he could easily determine the tax period output tax should be calculated. For the customer, the receipt of the tax invoice ensures transparency of the VAT amount charged, and it acts as evidence to support the recovery of VAT incurred on purchase as input tax. Keep your business organized and professional. Enhance the trust of your brand among the customers. It helps you to get paid on time without any bargaining. A i t th li t t ll t th h hi t ft ti

  4. TAX INVOICE A GOOD HABIT FOR FINANCIAL DISCIPLINE en though invoices are transformed from printed documents to digital records, the best accounting firms in UAE suggest that the habit of issuing and accepting improves the transparency of the business and indirectly develops financial discipline among the people. When we have a proper record of the money we exchanged, there would not be any unnecessary wastage of wealth to purchase unwanted goods or services. All firms and companies should promote invoices for small-scale to large-scale products to create financial awareness and keep a check on cash flow. Please contact us for any VAT related services and assistance.

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