Should I consider using a VAT agent to help with my VAT returns and credit claims?

Following the 2018 VAT Credit Refund Reform, enterprises became entitled to refunds on excess input tax credits, as is standard in a conventional VAT system. Where the amount of input tax exceeds the amount of output tax, a Taxable Person is entitled to a refund of VAT from the FTA. Page 7. 7. VAT User Guide | ... The two most prevalent methods are the credit-invoice method and the subtraction method, also known as a business transfer tax. (There is also a third type, the ... Aug 26, 2021 ... Hi Laura, If you have added VAT on the original invoice then there should be VAT on the Credit Note. The net VAT payable or credit. VAT, NHIL and GETFL returns and payment (if any) are due by the last working day ... Jul 2, 2024 ... Output VAT Credit on Uncollected Receivables. A seller can deduct VAT on unpaid receivables from their VAT obligations in the next quarter, ... corresponding credits as well as the tax returns that will be required under the value added tax (“VAT”) regime. In order to make it more easy to explain and ... Mar 13, 2025 ... To make the VAT neutral, registered businesses can claim a credit, deduction, or refund for the “input VAT” they pay on goods or services ... Feb 15, 2025 ... ... VAT credits available to offset against the VAT due on a transaction. If the supplier has sufficient VAT credits, the payment service ... Jan 8, 2024 ... The credit memo is not deemed as a payment - it is just a reduction in the invoice amount and should therefore be excluded from the calculations.