• Perfumes & Cosmetics Trading

Helping Businesses Grow with Smart Accounting

  • Perfumes & Cosmetics Trading

Helping Businesses Grow with Smart Accounting

  • Perfumes & Cosmetics Trading

Perfumes & Cosmetics Trading

IFRS – Bookkeeping

  • IFRS 15 – Revenue recognition (sale of goods, discounts, returns, promotions)
  • IAS 2 – Inventory valuation (cost or NRV, expiry/obsolete stock)
  • IAS 1 – Proper classification of revenue & expenses
  • Track import duties, freight & customs as inventory cost
VAT (FTA)

  • Standard-rated supplies at 5% VAT
  • VAT on imports via reverse charge mechanism
  • Input VAT recovery on purchases, marketing, logistics
  • Proper tax invoices & stock movement records
Corporate Tax

  • Taxable income based on IFRS-adjusted profits
  • Inventory write-offs must be commercially justified
  • Related party pricing must follow arm’s length principle