United Arab Emirates Tax Codes
Tax codes determine how much tax is charged on each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for the United Arab Emirates are set up correctly.
For more information on tax codes, see Tax Code Properties and Creating Tax Codes.
Tax Code Provisioning for United Arab Emirates
To benefit from the automatic tax code provisioning feature, you must first install the International Tax Reports SuiteApp (Bundle ID: 43003) in your account before you create subsidiaries.
For more information on how to install the International Tax Reports SuiteApp, see Installing and Setting Up International Tax Reports.
If the United Arab Emirates subsidiary and nexus have already been created before the SuiteApp is installed, you can create the United Arab Emirates tax codes by running the Create Tax Code SS script.
To run the Create Tax Code SS script, you need to have an Administrator role.
To create tax codes for United Arab Emirates using a script:
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Go to Customization > Scripting > Script Deployments.
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On the Script Deployments page, click the Edit link next to the Create Tax Code SS (customdeploy_create_taxcodes_ss) script.
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On the Parameters subtab, select the United Arab Emirates in the Tax Code Nexus field.
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Click Save and Execute in the Save button dropdown menu.
Important:If you already have created tax codes in the UAE subsidiary, the script will check for duplicates, and will not provision or overwrite the existing tax code.
After performing these steps, the tax codes for the United Arab Emirates are automatically created. To check and view the United Arab Emirates tax codes, go to Setup > Accounting > Tax Codes.
Important Things to Note
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The International Tax Reports SuiteApp only supports 139 unique tax codes per tax period for each country.
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You can use more than 139 tax codes for each country if these tax codes are not used in the same tax period.
Tax Code Table for the United Arab Emirates
The tax code names or letters presented in the table are suggested names or default system preferences. You can rename the tax codes. Tax reports identify transactions by looking at the tax code properties, not the tax code names.
On the Tax Code page, check the boxes of the properties that apply to the tax code.
If the tax code is to be used for Intra GCC trading, you must check the GCC Member State box on the Tax Code page
For more information about tax code properties, see Tax Code Properties.
|
Tax Code |
Description |
Property |
Rate |
Notional Rate |
Available On |
|---|---|---|---|---|---|
|
EX-UAE |
Zero Rate -Exports |
Exports |
0% |
— |
Sales |
|
IMG-UAE |
Standard Rate -Imports (Goods) |
Imports |
5% |
— |
Purchases |
|
IMS-UAE |
Standard Rate -Imports (Services) |
Imports Reverse Charge Code Applies to Service items |
0% |
IMG-UAE |
Purchases |
|
IMZ-UAE |
Zero Rate -Imports (Goods and services) |
Imports Reverse Charge Code |
0% |
IMG-UAE |
Purchases |
|
No_Tax-UAE |
Out of Scope |
Exclude from VAT Reports |
0% |
— |
— |
|
RCP-UAE |
Reverse Charge -Purchases |
Reverse Charge |
0% |
S-UAE |
Purchases |
|
RCS-UAE |
Reverse Charge -Sales |
Reverse Charge |
0% |
— |
Sales |
|
S-UAE |
Standard Rate -Domestic |
— |
5% |
— |
Both (Sales and Purchases) |
|
X-UAE |
Exempt |
— |
0% |
— |
Both (Sales and Purchases) |
|
Z-UAE |
Zero Rate -Domestic |
— |
0% |
— |
Both (Sales and Purchases) |
|
ZS-GCC |
Sales to tax registered customers in GCC states |
GCC State -Checked by default Reverse Charge Code -Checked |
0% |
S-UAE |
Sales |
For more information about Setting Tax Preferences and Setting Up Tax Periods, see Setting Tax Preferences and Setting Up Tax Periods.