Page 15 - Focus Group

Q2: When should one apply the input tax apportionment formula?
• In each VAT return (‘Regular Apportionment’); and

• Then for said Tax year, an annual wash-up adjustment as per below table:

Annual Washup for concerned Tax
Tax Year will be as
If Tax Period [VAT Return Period] is: year required in First VAT Return of
below:
its subsequent Tax year as below:
Monthly January to December January
Quarterly
[Jan to Mar, Apr to Jun, Jul to Sep, Oct to Dec] April to March April to June
Quarterly February to January February to April
[Nov to Jan, Feb to Apr, May to Jul, Aug to Oct]
Quarterly
[Dec to Feb, Mar to May, Jun to Aug, Sep to Nov] March to February March to May
Yearly [January to December] J anuary to December January to December
Any Other Period [Like Half-yearly]

Q3: Which are the input tax apportionment methods specified by FTA?

The Institute of Chartered Accountants of India (Dubai) Chapter NPIO TAX JOURNAL 2020 15