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This course provides a thorough understanding of input tax regulations in the UAE, covering laws, recoverable conditions, adjustments, and guidelines for entertainment services and employee expenses. Participants learn to navigate input tax effectively, ensuring compliance and maximizing recoverability while avoiding common mistakes.
Module Outline:
1. Relevant Laws and Legislations : Federal Decree and Executive Regulations Federal Decree Law No. 18 of 2022
- Article 1 - Definition of Input Tax
- Article 54 - Recoverable Input Tax
- Article 55 - Recovery of Recoverable Input Tax in the Tax Period
- Article 56 - Input Tax Paid before Tax Registration
- Article 11 - Deemed Supply
2. Executive Regulations
- Article 53 - Non-recoverable Input Tax
- Article 55 -Apportionment of Input Tax
- Article 56 - Adjustment of Input Tax Post-Recovery
- Article 57 - Capital Assets Scheme
- Article 58 - Capital Assets Scheme
3. Value Added Tax (VAT) Public Clarifications by the FTA
- Entertainment Services
- Mobile Phones, Airtime, and Data Packages Made Available to Employees for Business Use
- Time-frame for recovering Input Tax
4. Practical Case Studies
6. Key Learnings
- Input Tax Recovery Conditions
- Document Retention
- Business Purpose
- Non-Recoverable Scenarios
- Regular Assessment
- Time Sensitivity
- Input Tax Reversal
7. Common Mistakes
- Input Tax Recoverability Conditions
- Inadequate Record-Keeping
- Missing Documentation
- Incorrect Categorization
- Late Recovery
- Inaccurate Apportionment
ABOUT THE TRAINER
Chirag Agarwal
Chirag Agarwal, co-founder and Managing Director of Earningo Accounting & Tax Consultancy, leverages over a decade of Chartered Accountancy experience from India and Dubai. He spearheads services in Corporate Outsourced CFO, Risk Advisory, and VAT Consultancy. Chirag also plays a key role in Trade Reboot Limited, a Blockchain tech startup.