VAT Update

Federal Tax Authority Urges Consumers to Ask for Invoices for all Products and Services to Prevent prices manipulations
(Abu Dhabi, March 18, 2018)

Abu Dhabi, March 18, 2018 – The Federal Tax Authority(FTA) has urged all consumers in the UAE to ask for the tax invoices from retailers when purchasing products or services subject to Value Added Tax (VAT), in order to prevent attempts to manipulate the tax system

The Authority urged all taxable businesses to issue tax invoices when providing any supply, in order to avoid administrative penalties. In a new awareness message issued today, and as part of the FTA’s consumer awareness campaign “Be Aware of Your Rights”, the Authority stressed that failure to issue a tax invoice or alternative document when making any supply will expose the taxable business to an administrative penalty of AED5,000 for each tax invoice or alternative document. Similarly, failure to issue a tax credit note or alternative incurs an administrative penalty of AED5,000 for each notice or alternative document.

The FTA urged consumers to verify the VAT amount on prices displayed in tax invoices. The Authority had launched online instruments and services to enable consumers to easily verify the value of the tax – namely, the VAT Calculator, launched in January – as well as to ensure that the issuer of the invoice is actually registered with the FTA, through the TRN Verification service.

The services were launched to protect consumer rights and prevent attempts to take advantage of the UAE tax system to manipulate prices, the Authority explained, adding that these services – which were developed in collaboration with all relevant authorities – can be accessed on a 24/7 basis through the FTA website: www.tax.gov.ae





DubaiCityGuide.com is owned and managed by Cyber Gear






We accept guest posts. Contact us now!
Interesting Links

www.dubairestaurantsguide.com
Bayzat - Health Insurance UAE
Corporate Gifts
Middle East News

GuestPosts