WebMay 31, 2024 · Contrary to an earlier decision of 2024, the Court ruled in two cases that the transfer of a property which was leased out for a short term by a developer qualified as a … WebApr 15, 2024 · “Going concern” implies that the company is unlikely to face bankruptcy or foreclosure in the coming 12 months. The company portrays the ability to satisfy its financial obligations without the need for debt restructure or the disposal of assets outside the normal running of business.
UAE Federal Tax Authority issues VAT guidance on transfer of
WebAn entity acquiring a business as a TOGC must consider the turnover of the business prior to transfer when assessing their liability to register for VAT. When the transfer of a business constitutes a TOGC, the supply is disregarded for VAT purposes so that no VAT is payable on the transfer of the assets. WebJul 6, 2014 · Apparently, there’s some sort of big poker event going on Las Vegas today but to the 95 players who have returned for Day 2 of the Asia Pacific Poker Tour event here in Manila, it will be of no concern. It’s probably the goal of many a player to play in the Main Event of the World Series of Poker, but equally important are tours like the ... clare laycock discovery
VAT issues of a sale of a going concern – Matrix Tax School
WebAug 28, 2024 · August 28, 2024. FTA has recently issued a clarification that discusses the conditions that have to be met for a transfer to qualify as a ‘’transfer of a going concern’’ under Article 7 (2) of the Decree-Law. As per Article 7 (2) of the Federal Decree-Law No. (8) of 2024 on VAT, the transfer of whole or an independent part of a business ... WebJun 13, 2024 · A disposal of a business or part of a business capable of separate operations by a registered operator as a going concern is deemed to be a supply made in the furtherance or course of the operator’s trade. The seller should account for output tax on the disposal, but with proper planning no VAT is payable, the disposal can be zero rated. WebJan 10, 2024 · VAT is the liability of the supplier of the goods or services – usually the seller or landlord in property transactions - rather than the person to whom the supply is made. … clare leafaircommunity.org