Administration Team A

What is the primary responsibility of the Federal Tax Authority (FTA) in the UAE?

• Collecting corporate tax only

• Administering and enforcing VAT laws

• Setting VAT rates for each emirate

• Issuing VAT refunds to all businesses automatically

What is the standard period for VAT return submission in the UAE for most businesses?

• Monthly

• Quarterly

• Annually

• Bi-annually

Which of the following is NOT a mandatory requirement for a valid tax invoice under UAE VAT law?

• The word “Tax Invoice” clearly stated

• Supplier’s VAT registration number

• The recipient’s bank details

• A sequential invoice number

When must a tax invoice be issued under UAE VAT law?

• Before the supply of goods or services

• Within 14 days from the date of supply

• At the end of the tax year

• Only if requested by the customer

In which situation should a tax credit note be issued?

• When a customer requests a duplicate invoice

• When the VAT rate changes

• When there is a decrease in the price of a previously issued tax invoice

• When a business receives VAT refunds from the FTA

Which of the following is a mandatory detail on a tax credit note under UAE VAT law?

• The reason for issuing the credit note

• The supplier’s bank account details

• The customer’s national ID number

• The VAT return submission date

How long must VAT records and tax invoices be retained under UAE VAT law?

• 2 years

• 5 years

• 10 years

• Indefinitely

Which of the following is NOT considered a valid VAT record for compliance purposes?

• Tax invoices

• Accounting records

• Emails discussing VAT rates

• VAT returns submitted to the FTA

If a business issues both a tax invoice and a tax credit note for the same transaction, how should the VAT impact be recorded?

• The VAT from the tax invoice remains unchanged

• The tax credit note reduces the VAT liability for the supplier

• The tax credit note increases the VAT liability for the supplier

• The VAT should be claimed twice by the customer

If a taxable person fails to maintain VAT records properly, what is the potential consequence?

• Immediate business suspension

• A fine imposed by the FTA

• The VAT registration being canceled

• Automatic VAT refund rejection