Quiz: Do you understand what Value Added Tax (VAT) means in the United Arab Emirates? | AD SME

Quiz: Do you understand what Value Added Tax (VAT) means in the United Arab Emirates? 

By: M S [Advisory | Tax | Accounting]
Accounting

Do you understand what the Value Added Tax (VAT) means in the United Arab Emirates?

Are you aware of what your business needs to do to comply with the  Federal Tax Authority (FTA)’s requirements?

Take the quiz to test your knowledge on the matter!

 

What is the 'Value-Added Tax' (VAT)?

1 / 6

True or False: when calculating VAT, value addition only considers the output as it directly generates revenue.

2 / 6

What is the payable tax?

3 / 6

Your coffeeshop has incurred an input tax of 0.75 AED on a bottle of milk. Your customer paid 1.00 AED as VAT. How much is your payable tax to the government?

4 / 6

True or False: it is only mandatory to register for VAT if you exceeded AED 375,000 in revenue over the last 30 days.

5 / 6

What is the main factor to consider when registering for VAT in the UAE?

6 / 6

You might also like