FTA has issued a VAT guide on Director’s Services in Arabic and English has been saved
FTA has issued a VAT guide on Director’s Services in Arabic and English
The guide discusses the VAT treatment of Director services including why Director’s services are subject to VAT, where the place of supply is, the manner of the imposition of VAT, the recovery of input tax and the treatment of Directors’ fee and special scenarios among other key topics.
Clearly this is a sensitive topic for numerous senior business people.
Given that many Directors that are affected may be faced with a requirement to register (albeit late) for VAT before 30 April in order to preempt being subject to penalties for late registration, it is an issue that needs to be addressed as a matter of urgency.