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What will be the impact of VAT/ Excise duty on the goods (Subject to VAT/FED) destroyed by the unintentional/ unforeseen event and goods expired?

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VAT Tax Tax Analysis
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Question added by Zubair Mayo , Senior Auditor , Meralis's Chartered Accountants
Date Posted: 2017/10/23
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Naeem Aslam
by Naeem Aslam , Group Tax Consultant , Tech Group PJSC

There will be no impact most probably, because you have already claimed VAT on your purchases.

Mohammed Saqib
by Mohammed Saqib , Chief Accountant , Al Rumaithy Establishment

For damaged goods, you may try to sell at discounted value then VAT will be liable as per normal sale transaction on it.

For the expired goods, since you may end up write-off of the worthless stock, results in no VAT due on the same.  

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