Accounting for Advance Payments and Deemed Supply in the UAE

Analytical articles from Real Law service

1. VAT Registration for Taxpayers in the UAE
2. VAT Exemption for Taxpayers in the UAE
3. VAT Accrual in the UAE
4. VAT Refund in the UAE 
5. Determining the Tax Base When Operating in Free Zones, Foreign Jurisdictions, and Combined Operations Involving Them 
6. Import VAT and Determining the Place of Supply
7. Tax Groups for VAT in the UAE
8. VAT return and Payment Procedure with the FTA
9. VAT Deregistration in the UAE

10. VAT Refund for Tourists in the UAE

11. Tax Agent in the UAE and Their Role in VAT Matters

12. Determining the VAT Tax Base Date in the UAE

13. Accounting for Advance Payments and Deemed Supply in the UAE

14. Tax Audits and Fines under VAT in the UAE

Review by Real Law

In the UAE VAT system, advance payments and deemed supply are regulated by Federal Decree-Law No. 8 of 2017 (the "Law") and the Executive Regulation (Cabinet Decision No. 52 of 2017). Under these provisions, taxpayers shall adhere to specific requirements when accounting for VAT, particularly in relation to prepayments and transactions deemed as supplies even in the absence of actual payments.

Advance Pa...