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Need help regarding upcoming VAT will there be any schemes for VAT like cash accounting or accrual accounting?

I need to know if the consumer are able to use accruals or cash accounting when submitting there VAT Returns.

Accounting VAT Cost Accounting Cash Management Financial Accounting
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Question added by Habib Ahmed , Director , Ideal Payroll and Bookkeeping LLC
Date Posted: 2017/03/06
Upvote (0) Views (7) Followers (2) Answers (2) Report Question
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Rana Ali Raza
by Rana Ali Raza , Manager Tax , Ernst & Young

Both accrual and cash accounting is allowed under the GCC VAT Framework.

Muhammad Naveed Yar Khan
by Muhammad Naveed Yar Khan , Senior Tax & Treasury Accountant , SAIPEM PORTUGAL COMMERCIO MARITIMO

There are three types of schemes of VAT:

1. Cash Accounting Scheme

2. Flat Rate Scheme

3. Annual Scheme

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