- Personal Shopping Services
Helping Businesses Grow with Smart Accounting
- Personal Shopping Services
Personal Shopping Services
IFRS – Bookkeeping
- IFRS 15 – Service-based revenue
- Clear separation of reimbursements vs service fees
- Commission income recognized when service completed
VAT (FTA)
- Service fees subject to 5% VAT
- Reimbursements treated carefully (may still attract VAT)
- Proper agreements required to support VAT treatment
Corporate Tax
- Service income taxable
- Personal expenses must not be claimed
- Documentation critical to avoid disallowances
