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متابعة

Need help regarding upcoming VAT will there be any schemes for VAT like cash accounting or accrual accounting?

I need to know if the consumer are able to use accruals or cash accounting when submitting there VAT Returns.

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تم إضافة السؤال من قبل Habib Ahmed , Director , Ideal Payroll and Bookkeeping LLC
تاريخ النشر: 2017/03/06
Rana Ali Raza
من قبل Rana Ali Raza , Manager Tax , Ernst & Young

Both accrual and cash accounting is allowed under the GCC VAT Framework.

Muhammad Naveed Yar Khan
من قبل Muhammad Naveed Yar Khan , Senior Tax & Treasury Accountant , SAIPEM PORTUGAL COMMERCIO MARITIMO

There are three types of schemes of VAT:

1. Cash Accounting Scheme

2. Flat Rate Scheme

3. Annual Scheme