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In negotiations with Dubai and wonder if we charge vat,jean,

Customer Question
Hi there in negotiations...

Hi there in negotiations with Dubai and wonder if we charge vat,jean

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

As before

Accountant's Assistant: Is there anything else the Accountant should be aware of?

It is only software - nothing tangible, jean

Submitted: 7 months ago.Category: Tax
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Answered in 5 minutes by:
12/7/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,655
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

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.

...

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

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Customer reply replied 7 months ago
not sure this is working for us - too long - we need quick answers so will wait 4 more minutes, jean
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 months ago

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

...

The mandatory registration threshold is Dh375,000.

...

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.

....

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

...

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.

...

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

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 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

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 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

...

Lane

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Customer reply replied 7 months ago
you haven't mentioned Dubai
Customer reply replied 7 months ago
please cancel this service - waste of time!
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 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

...

This is ALL about Dubai

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 months ago

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

...

I bill out to clients a 250hr.

...

This an EXCELLENT value for you

...

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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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 months ago

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

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