What about VAT paid to my suppliers?
Businesses outsource some of their work and goods to other companies, which creates a complicated global web of transactions. New tax law requires that any company that provides goods on these transactions must collect the VAT, on behalf of the buying company. This is called input TAX.
Also Read,
- What is VAT rate in Northern Emirates?
- Zero Tax Category in the UAE
- Tax in other countries
- VAT in GCC countries
- When was the New Tax Law started in UAE?
- How VAT is calculated?
- Exempted Categories of goods and services