When filing your VAT return, you would have noticed a question asking if VAT was charged under the profit margin scheme. Do you know what it is, or what to answer in your tax return?

Under the profit margin scheme in UAE, VAT is chargeable on profit margin only. Here the profit margin is the difference between the purchase price of the Goods and the selling price of the Goods, and the profit margin shall be deemed to be inclusive of Tax.

#tax #uae #dubai #vat #fta #profitmarginscheme #profit #taxreturn #taxfiling #vatfiling #abudhabi #business #entrepreneur #businessgrowth #secondhand #antiques #collectors
To read in detail - https://www.msiauditors.com/what-is-t...

Timestamp
0:00 Intro - Profit Margin Scheme Explained!
0:50 What is the Proft Margin Scheme? UAE VAT
1:04 How is the profit margin scheme calculated in the UAE?
1:29 What goods are eligible for the profit margin scehem in UAE?
2:04 What are the conditions for the profit margin scheme in the UAE?
2:34 What records need to be maintained for the profit margin scheme in the UAE?
3:36 Outro - Profit margin scheme in the UAE

To have a quick free consultation you can get in touch with us at +971 4 2650789 or +971 55 6460108, during our office hours. Alternatively, you can get in touch with us at [email protected]

Website- https://www.msiauditors.com/

Facebook-   / msialnomanandravi  

Linkedin-   / msi-alnoman-&-ravi  

Instagram-   / msiauditors  

Twitter-   / msiauditors  

Tik Tok- https://www.tiktok.com/@msiauditors?l...


We are one of the oldest audit firms based out of UAE, with over 30 years of experience. This makes us one of the pioneering audit firms in the UAE. We are experts in Audit, Accounting, Taxation & Consultancy related services. Get in touch with us for more professional advice on your company's VAT compliance requirements in UAE.



Audio credit-
Music: Soft Corporate by NewHOfTechnology
  / ewfechnolohy  
Video Link:    • NewHOfTechnology - Soft Corporate [Co...