Post by joita9789 on Feb 13, 2024 6:04:54 GMT
The Definition of taxpayer It should also be noted that the Act expands the concept of taxpayer specified in Art. VAT Act, including legal persons, organizational units without legal personality and natural persons purchasing scrap metal if the person delivering it is the taxpayer referred to in Art. not benefiting from the exemption referred to in Art. paragraph and the delivery is not covered by the exemption referred to in Art. paragraph pts . The change in the system of calculating and deducting tax on goods and services in the trade in scrap means that a scrap supplier who is a VAT payer and makes a supply.
To another VAT-payer entrepreneur will not report the Dubai Email List tax due on this transaction. For this purpose, a VAT payer supplying scrap metal will still be obliged to issue a VAT invoice, but it will not include the VAT rate and the amount of tax due, a change pursuant to Art. paragraph and the VAT Act. The delivery of goods for which the taxpayer is the buyer will be reported to the seller in item VAT declaration. VAT settlement by the buyer As already mentioned, the taxpayer who will be obliged to settle VAT on the supply of scrap metal will be the taxpayer who purchased the scrap metal.
VAT settlement will consist in issuing an internal invoice in which he will specify the tax base and charge VAT, then indicating it in the VAT declaration in field and . At the same time, in accordance with Art. paragraph point of the VAT Act, the amount of tax due on the supply of goods for which the taxpayer is the buyer is deductible. If he exercises this right, the tax will be neutral for the buyer. The nature of settling transactions according to the new rules can therefore be compared to the method of settling foreign transactions.
To another VAT-payer entrepreneur will not report the Dubai Email List tax due on this transaction. For this purpose, a VAT payer supplying scrap metal will still be obliged to issue a VAT invoice, but it will not include the VAT rate and the amount of tax due, a change pursuant to Art. paragraph and the VAT Act. The delivery of goods for which the taxpayer is the buyer will be reported to the seller in item VAT declaration. VAT settlement by the buyer As already mentioned, the taxpayer who will be obliged to settle VAT on the supply of scrap metal will be the taxpayer who purchased the scrap metal.
VAT settlement will consist in issuing an internal invoice in which he will specify the tax base and charge VAT, then indicating it in the VAT declaration in field and . At the same time, in accordance with Art. paragraph point of the VAT Act, the amount of tax due on the supply of goods for which the taxpayer is the buyer is deductible. If he exercises this right, the tax will be neutral for the buyer. The nature of settling transactions according to the new rules can therefore be compared to the method of settling foreign transactions.