- Air Cargo & Sea Cargo Services
Helping Businesses Grow with Smart Accounting
- Air Cargo & Sea Cargo Services
Air Cargo & Sea Cargo Services
IFRS – Bookkeeping
- IFRS 15 – Transportation service revenue
- IAS 21 – Foreign currency transactions
- Accruals for freight, port & handling charges
VAT (FTA)
- International transportation → Zero-rated
- Local transport services → 5% VAT
- Input VAT recovery on fuel, port charges, logistics
Corporate Tax
- FX gains/losses taxable/deductible
- Inter-company charges subject to transfer pricing
- Contracts define revenue recognition timing
