Reverse Charge Mechanism (RCM) Practical Explanation | Imports of Goods / Services | VAT UAE FTA TAX

Reverse Charge Mechanism is a treatment of VAT that comes into play in the case of an import of service or goods. This may be a bit confusing for businesses especially start-ups who face challenges when filing their VAT returns.

Bottom Line - Reverse charge mechanism or RCM is mostly only for disclosures however, Filing VAT returns correctly is important to avoid penalties. Being compliant with the tax regulations is important.

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Timestamp
0:00 Intro on Reverse charge Mechanism
0:57 Simple explanation of Reverse Charge Mechanism (RCM) in the UAE
2:03 How to disclose RCM When filing VAT returns
2:57 Example of an actual tax impact of RCM
3:40 Outro on RCM

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