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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 15831
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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In negotiations with Dubai and wonder if we charge vat,jean,

Customer Question

Hi there in negotiations with Dubai and wonder if we charge vat,jean
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: as before
JA: Is there anything else the Accountant should be aware of?
Customer: it is only software - nothing tangible, jean
Submitted: 11 months ago.
Category: Tax
Expert:  Lane replied 11 months ago.

Hi Jean. My name's Lane

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, on three continents, since 1986.

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Please bear with me for a minute while I type your response ..

Customer: replied 11 months ago.
not sure this is working for us - too long - we need quick answers so will wait 4 more minutes, jean
Expert:  Lane replied 11 months ago.

Part of the answer depends on whether the company you do business with is VAT registered.

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The mandatory registration threshold is Dh375,000.

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This means that anyone with a turnover of Dh375,000 or more is required to register their business for VAT, the Federal Tax Authority (FTA) and Ministry of Finance (MoF) said in the recently release regulations.

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The voluntary registration threshold is Dh187,500, with companies of that size or above able to register for VAT too.

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If your customer IS a business that is VAT registered, you reverse charge 0% (no VAT) YOU must have their VAT number and a detailed invoice.

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If your service is VAT exempt, then you ...

Expert:  Lane replied 11 months ago.

If your [product or service] is exempt, vat doesn't apply ... and if you're not exempt and your customer ISN'T a business then you must charge VAT according to their residence, provide a detailed invoice showing VAT, and file VAT return

Expert:  Lane replied 11 months ago.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating, using the stars on your screen, and then clicking “submit" – That’s the only way I’ll be credited for the work

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Lane

Customer: replied 11 months ago.
you haven't mentioned Dubai
Customer: replied 11 months ago.
please cancel this service - waste of time!
Expert:  Lane replied 11 months ago.

Those thresholds I gave you WERE specific to Dubai, also the Dh should have alerted you, ALSO Ministry of Finance should have alerted you

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This is ALL about Dubai

Expert:  Lane replied 11 months ago.

I took your question at 10:34 and gave you a very specific, accurate and thorough answer at 10:37.

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I bill out to clients a 250hr.

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This an EXCELLENT value for you

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I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, on three continents, since 1986

Expert:  Lane replied 11 months ago.

you have your answer. I'd appreciate your rating me positively so that JustAnswer will compensate me