1. Charities & Govt entities will benefit from a new threshold exemption for deemed supply where total output tax does not exceed. AED 250000 over a 12 month period.
2.Profit margin scheme-purchase price includes any incidental costs incurred in acquisition of goods.
3.Exports need to maintain additional documentation, such as customs declaration &shipping certificates to prove that goods are under customs suspension.
4.Service related to international transport for both passengers & goods will be zero related provided they are supplied directly to the service provider. This includes services like repays & maintenance performed on board.
5.Input VAT related to health insurance particularly employees & their dependents can no longer be recovered.
6.Simphfid tax invoices must be issued on the date of supply & summary tax invoices must be issued within 14 days of the end of the supply month.