New

Simplified guide on E-invoicing requirements | Time Limit for Claiming Refund of VAT by Tourists | Clearance of consignments through Courier Companies | List of Excise goods updated by NBR | Public Clarification on deficient or missing Excise goods | Role of the tax invoice in input tax recovery – remarks de lege ferenda in the UAE VAT system | UAE Supreme Court orders cancellation of tax penalties for re -submission of returns | UAE extends deadline for submission of FATCA/CRS reports till July 20, 2022 | ZATCA carries out inspection visits on various retail shops, cafes, restaurants, etc. | FTA issues Public Clarification on “Gold Making charges” | UAE Businesses Need to Look Closer at ‘Fringe Areas’ in Corporate Tax Regime | ZATCA issues simplified Guidelines for Agriculture, Real Estate, Construction and InfoComm sectors | Tax Policy: Structuring a Tax Payer's Feedback | Oman Tax Authority issues Guide on “Financial Services Sector” | UAE – Administrative Penalties | UAE – Voluntary Disclosure Guide | UAE: What are the legal risks investors need to watch out for when investing in digital assets? | VAT treatment on Transfer of goods from one Designated Zone to another | Input VAT Recovery on missed tax invoices? | Introduction of Corporate Tax in UAE | New Rules on Retrospective Tax Penalty Waivers, Installments, Tax Litigation, and Class Actions | KSA publishes Guidelines on Contracting Sector in Arabic | NBR of Bahrain issues FAQs in relation to VAT rate change transitional rules | Bahrain issues VAT Rate Change Transitional Provisions Guide | NBR of Bahrain starts rolling out email to taxpayers for proposed change in VAT rate | FTA updates VAT User guide for Registration, Amendments and De-registration | FTA issues reminder on amending provisions of Administrative Penalties for Violation of Tax | Bahrain's Shura Council has approved draft amendment bill to increase VAT rate | FTA issues Public Clarification for recovery of input tax on Phones, Airtime, and Packages | Bahrain Parliament receives draft amendment bill to double the VAT rate | Parliament House of Bahrain approves increase in VAT rate | KSA issues guide to develop FATOORAH compliant QR Code | Bahrain publishes updated manual on “Change of VAT return filing frequency” | UAE announces 'Reconsideration Requests Service' to be available on e-services portal | UAE issues “Reconsiderations User” guide | UAE releases user guide on Excise Tax | UAE issues Public Clarification on “Amendment of Tax Procedures Law” | KSA releases second version of "Input Tax Deduction" guide in Arabic | VAT law under consideration in Qatar, at drafting stage | UAE updates Turnover Declaration Letter | UAE updates Payment User Guide | UAE revises “VAT Refund User” guide | ZATCA issues second edition of "General VAT" guide in Arabic | KSA releases second version of “Professional services” guide in Arabic | UAE links Tax Registration Number with Customs Registration Number | UAE issues Public Clarification on “Goods supplied in Designated Zone and Connected Shipping or Delivery Services" | UAE amends “Federal Decree Law on Tax Procedures” | UAE amends “Executive Regulations” of Federal Decree Law on VAT | ZATCA suggests taxpayers to expedite preparations with requirements of first phase of E-invoicing | Oman Tax Authority releases English version of 'Real Estate' guide | FTA conducts workshop to review procedures for recovering input tax |

Understanding Reverse Charge Mechanism

21 Dec, 2020

Reverse Charge Mechanism (“RCM”) is a tool through which a tax authority ensures that VAT is rightfully paid. It requires that in certain circumstances wherein VAT cannot be charged to the supplier, it is instead charged to the recipient of the supply.

This story is available exclusively to subscribers of taxsutraquasar.com.
Sign In to access the full content.
Not subscribed yet? Please get in touch with us for enquiries, free trials and subscriptions.